Geffen Sells Pollock To Raise Cash For LA Times?

Written by Betty Melnikoff. Posted in Art, Business, Showbiz

Geffen Sells Pollock To Raise Cash For LA Times?

Published on November 06, 2006 with No Comments

Pollock painting No 5, 1948Is David Geffen soon to add newspaper mogul to his list of been there, done that and got the t-shirt to prove it.

The 63-year-old king of rock who founded Geffen Records and gave the world John Lennon’s last album as well as releases by Guns N Roses, Nirvana, Cher and tons of other artists has been busy selling various works of arts which some are saying is to give him enough cash to mount a bid for ownership of the Los Angeles Times.

Last week, Boro Park-born Geffen sold Pollock painting No 5, 1948 for a world record price of $140m and last month, he made £143.5m by selling two paintings by Jasper Johns and de Kooning.

According to reports, Geffen is worth $4.5bn making him the 45th wealthiest man in America which he achieved through various showbiz deals including selling his record labels.  His positive work ethic comes from his mother, Batya, who following the death of his father Abraham when he was just 17, set up a clothing store – Chic Corsetry by Geffen.

Over the last decade, Geffen is said to have given away more than $200m to various charitable causes.

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