Latest news with #DavidGeffen
Forbes
3 days ago
- Business
- Forbes
Did David Geffen Really Risk Billions By Skipping A Prenup?
Contributing author: Morgan Fraser Mouchette David Geffen is a triple threat—a record executive, film producer, and talent agent—but was he a threat to his own multibillion-dollar empire when he tied the knot without a prenup? In March of 2023, Mr. Geffen married his personal trainer, David Armstrong. It was a union that drew intense speculation, due to their 50-year age gap—Mr. Geffen was 80 to Mr. Armstrong's 30—as well as rumors about Mr. Armstrong's past and evidence that he had changed his name several times (Mr. Armstrong also goes by Donovan Michaels). Still, love is love, and the couple enjoyed a lifestyle befitting Mr. Geffen's extreme wealth, at least until they didn't. Two years later, in February of 2025, they separated, and Mr. Geffen officially filed for divorce in Los Angeles, CA, in May 2025, citing irreconcilable differences. Though the shock factor of this May-December relationship had worn off, news of the divorce brought a surprising twist—that the couple had not signed a prenuptial agreement. Thanks to a vast business empire including DreamWorks Pictures, Asylum Records and Geffen Records, Mr. Geffen's net worth is valued at over $8 billion. However, it is unlikely that Mr. Armstrong will be entitled to a substantial percentage of that fortune in their divorce. California is a community property state that generally divides marital property equally upon divorce, but most of Mr. Geffen's wealth was accumulated at the height of his career—long before his marriage to Mr. Armstrong. Thus, the bulk of his assets would likely be considered separate property. As he is no longer involved in the day-to-day operations at his labels, his current income is primarily earned via his role at Geffen Advisors and through prior investments, which significantly limits the assets his soon-to-be ex-spouse could be entitled to. From my experience working with high-net-worth and ultra-high-net-worth individuals, I would speculate that Mr. Geffen's wealth may have also been secured through irrevocable trusts prior to marriage, another way of shielding assets from divorce. This strategy is common for many reasons: the reduction of estate taxes, privacy of financial records, and protection from legal proceedings such as divorce. Given that Mr. Geffen was 80 years old, his estate and assets may have long ago been structured to account for divorce and death, mitigating the need for a prenup. Due to the aforementioned factors, the most likely entitlement for Mr. Armstrong would be spousal support. However, since this marriage was only two years long, the support would be temporary or rehabilitative, confined by law to one year rather than lifelong alimony. In accounting for the luxurious lifestyle enjoyed by the couple, the courts will likely provide Mr. Armstrong with a small percentage to adapt in his post-divorce transition. All told, this would amount to just a sliver of Mr. Geffen's total wealth, though it could still be considered quite a payday for the former fitness instructor who, reportedly, also spent time as a go-go dancer in Miami. Mr. Armstrong has responded to the divorce petition, stating, 'The exact nature and extent of separate property assets and obligations are unknown at this time.' He further stressed that he 'reserves the right to amend this Response when the same is ascertained,' which leads me to believe that he may push back in an attempt to gain a higher payout. Anonymous statements from an alleged ex-girlfriend of Mr. Armstrong have added to this speculation, expressing that his intentions have historically been driven by the desire for money and fame, which were certainly within his reach during this marriage. Mr. Geffen is a titan of empire and likely would have recognized that prenuptial agreements are standard business practice, begging the question: why would he opt out? For starters, Mr. Geffen may have felt confident that his exposure upon divorce or even death was already limited. Other common reasons for foregoing a prenup include the desire to maintain privacy, an underestimation of financial risks in a marriage, or simply being too blinded by love. In this particular case, the couple's age gap could have also been a factor, as Mr. Geffen may have felt the need to demonstrate trust to Mr. Armstrong. Conversely, he may have had confidence in his control over their relationship dynamics. With the divorce proceedings ongoing, it remains to be seen whether Mr. Geffen's lack of a prenup will work in his favor. Even if he comes out relatively unscathed, it should be noted that such an outcome is an exception, not the rule. A relationship is akin to a business investment, and regardless of financial status, should be treated like one. Working with a matrimonial attorney and a holistic financial advisory team is the only foolproof way to safeguard your legacy in the event of divorce. Morgan Fraser Mouchette, Partner in the New York City office of Blank Rome and Vice Chair of the Matrimonial and Family Law Group, handles complex matrimonial matters for high-net-worth and high-profile clients. She provides individuals and families with tailored and strategic support to navigate and move on from life's most difficult outcomes, including divorce.
News.com.au
6 days ago
- Entertainment
- News.com.au
Family breaks silence on music mogul David Geffen's ex-husband's secretive past
Shocking new details about David Geffen's estranged husband, David Armstrong, have been revealed by his family and ex-girlfriend. The former go-go dancer's adoptive father, Patrick Armstrong, claims he learned about his son's forthcoming divorce from the billionaire businessman, 82, from the media. 'I don't know where he (David) is, or what the situation is, first I heard about it (was) one of my sons saw it on TV,' he told the Daily Mail. 'We kinda didn't even know about the marriage. But 50 years is a big age gap,' Patrick, 68, added of the couple's huge age difference. 'I don't know how you expect it to work out. My soon-to-be former son-in-law is older than me.' Patrick told the outlet that he wasn't invited to David and the film producer's 2023 nuptials and that he last saw his son two years ago at a family reunion. At the time, however, the 32-year-old allegedly didn't mention he had gotten married. 'For some reason, I Googled his (my son's) name, and that's when it came up,' Patrick shared. 'I never expected I could Google one of my kids' names and have them show up.' Patrick revealed that he had never met Geffen, but also looked him up on the internet. 'Some of the stuff I looked up, it kind of sounds like Geffen is a little overbearing. But you can't believe everything you read. I can't really have an opinion of him.' Patrick told the Daily Mail that he allegedly had to go through Geffen's business secretary to contact his son by phone and then 'David (would) get back to us.' Though he said David regularly kept in touch with his older sisters, Patrick claimed his son 'got quiet' a few months ago. Patrick — who adopted David and 13 other kids with his wife after they had two biological kids — said the model's siblings 'were happy' for his marriage. 'Evidently, it looks like it didn't work out, which would have been my thing at the beginning, because it's too big an age difference,' he said. 'I don't know how you can fall for someone 50 years older than you, because you don't even have the same stuff in common, stuff you grew up with.' Patrick admitted that he was 'surprised' his son even got with Geffen, noting that David 'didn't seem to be interested in boys.' The dad of 16 told Daily Mail he's unsure if David will reach out amid the divorce. 'We're just kind of waiting now to see if he mentions it, bring it up on his own terms,' he explained. David's ex-girlfriend also shared some insight into their past. The woman, who remains anonymous, told the outlet that she believes David's romance with Geffen was 'kind of typical.' 'I just think he got what he was looking for. He cared a lot about the money, in my eyes. He always wanted to become rich and famous,' she claimed. 'He wanted the name brand stuff — the cologne, the sunglasses, the shoes. He wanted to be a public figure. He had big dreams,' David's ex alleged. The woman said she was surprised by news of the divorce because there was 'quite an age gap.' 'I sure as hell am not marrying someone 50-60 years older than me, so I can watch them die,' she shared, adding that she was 'proud' of Geffen for divorcing David before he passed away to prevent him from getting his 'entire (fortune).' Earlier this month, TMZ reported that the record company founder, who has a net worth of more than $9 billion ($A14bn), filed for divorce from David after two years of marriage — with no prenuptial agreement in place. Geffen cited irreconcilable differences as the reason for the split and has hired attorney Laura Wasser to represent him in the split. Though Geffen has amassed his wealth through founding several record companies, including Asylum Records, DreamWorks Records, DGC Records and Geffen Records, he has been retired for 15 years and most of his income now consists of equities and stocks. TMZ reported that California law states dividends from stocks are separate property, which means David may not get much in the divorce.
Daily Mail
7 days ago
- Entertainment
- Daily Mail
EXCLUSIVE Shocking true story about David Geffen's boy toy husband, 32... from his family and ex GIRLFRIEND... as he prepares to collect millions in no prenup divorce from 82-year-old
The adoptive father of billionaire David Geffen's much younger estranged husband reveals he was surprised to learn his son had married a man, and why he believes their marriage was never going to last, in exclusive comments to the Daily Mail. Patrick Armstrong, 68, said he first learned of the 82-year-old media mogul's marriage to his son David Armstrong, 32 - and their impending divorce - when it made headlines last week.
New York Times
22-05-2025
- Entertainment
- New York Times
Without a Prenup, David Geffen's Divorce Could Get Interesting
For a man whose name is affixed to concert halls, medical programs and drama schools, David Geffen probably never wanted his name where it landed last week: on divorce papers. Mr. Geffen, 82, was the instigator in a divorce petition filed on Friday in Los Angeles, signaling a split from his husband of two years, David Armstrong, a 32-year-old dancer he married in March 2023. While the legal grounds were familiar to anyone with a passing knowledge of divorce — 'irreconcilable differences,' according to the petition — the circumstances of the dissolution raised some eyebrows because of one detail: The petition also indicates that Mr. Armstrong did not sign a prenuptial agreement with Mr. Geffen, the entertainment mogul whose net worth has been estimated at more than $8 billion. Whether that will lead to financial distress for Mr. Geffen remains to be seen, say experts in California divorce law. The filing last week shows that Mr. Geffen intends to pay spousal support, which — considering the brevity of the marriage — is generally disbursed over a period equal to about half the length of a marriage. Still, that support could be sizable considering the luxurious world in which Mr. Geffen — and, until recently, Mr. Armstrong — resided. Samantha Bley DeJean, a family law attorney in San Francisco, said she would guess that the couple's lifestyle 'was fairly significant,' though she also noted that Mr. Geffen could probably afford whatever the court deemed support to be. 'No matter how nice their lifestyle is, his net worth is so significant that I could imagine that any spousal support that he'd be ordered to pay probably will not make a dent for him,' said Ms. Bley DeJean. What led to the breakup is unclear, though the two men had very different public personas and were separated by a half-century age gap. Mr. Armstrong, who The New York Post described as 'a former go-go dancer with a murky past,' has a limited social media presence, though he posted several selfies — some shirtless — on Instagram in 2017 and 2018. He has also used the name Donovan Michaels, per court papers. Mr. Geffen rose from modest beginnings in Brooklyn to become one of the world's best producers, in multiple mediums, including rock 'n' roll, where he was central to the careers of the Eagles and Jackson Browne and worked with Bob Dylan, Joni Mitchell, and Crosby, Stills, Nash and Young. (Known as a sometimes bruising boss, Mr. Geffen had falling-outs and legal battles with some of those figures.) He dated Cher and Marlo Thomas before coming out as gay in 1992. Mr. Geffen's credits also include the films 'Risky Business' and 'Beetlejuice,' as well as the original Broadway production of 'Cats.' In 1994, he formed DreamWorks Pictures with Steven Spielberg and Jeffrey Katzenberg; the company was sold to Paramount for $1.6 billion 12 years later. In 2008, at 65, he effectively stepped away from the business. In recent years, Mr. Geffen has been more likely to be found on his yacht, the Rising Sun, or at one of his homes, which include an estate in the Hamptons. Mr. Geffen's relative lack of current business ventures — and the briefness of his marriage — may actually work out in his favor financially, lawyers say. Under California law, Mr. Armstrong would be entitled to half what was earned by Mr. Geffen through the broad terms of 'time, skill and effort' during the marriage, said Ms. Bley DeJean, but not from more passive means like residuals or dividends. Moreover, that so-called community property is limited to the moment you marry until the moment 'of separation,' which is roughly defined as when the relationship was over. (In Mr. Geffen's case, he put that date in late February, though he didn't file for divorce until mid-May.) That's only about 23 months of income for Mr. Geffen. What could be more problematic is public perception, said Ms. Bley DeJean, who has represented celebrity clients like Angelina Jolie and Claire Boucher, the singer who is known professionally as Grimes. 'They have all the same issues and problems that you and I have, usually with a lot more zeros,' she said. 'And their life is under a microscope.' It's not clear why Mr. Geffen, known as a tough and savvy negotiator, did not apparently have a prenup. Mr. Geffen's lawyer, Laura Wasser, did not return requests for comments; Mr. Armstrong also could not be reached for comment. But Susan Myres, a family law specialist in Houston and a former president of the American Academy of Matrimonial Lawyers, said that some couples were reluctant to make such an agreement because of the message it could send. 'One reason he might not have insisted on one is he didn't want his husband to think he didn't trust him,' Ms. Myres said. 'That is a huge trigger for a lot of people: 'You're planning our divorce!'' Early indications are that the Geffen-Armstrong divorce is amicable thus far — there have been no tabloid tell-all interviews, no accusations in court or elsewhere. And Ms. Myres said that, in her experience, it often behooved 'high-wealth, high-profile people' to be civil, despite the stakes involved. 'It doesn't do either of them any good to go all vitriolic,' she said. 'So if they're keeping things close to the vest, great for them,' she added. Still, while the marriage was brief, Mr. Myres also said that Mr. Armstrong probably wouldn't be hurting for money any time soon. 'If he plans well,' she said, 'he could be nicely set up.'
Yahoo
20-05-2025
- Entertainment
- Yahoo
Billionaire David Geffen, 82, divorcing David Armstrong, 32, with no prenup: Who is the former go-go dancer?
Billionaire David Geffen has filed for divorce from David Armstrong after two years of marriage — with no prenuptial agreement in place. On May 16, 2025, TMZ reported that the film producer, who has a net worth of more than $9 billion, cited irreconcilable differences as the reason for the split and has hired attorney Laura Wasser to represent him in the divorce. Though Geffen has amassed his wealth through founding several record companies, including DreamWorks Records, Asylum Records, Geffen Records and DGC Records, he has been retired for 15 years and most of his income now consists of equities and stocks. TMZ reported that California law states dividends from stocks are separate property — meaning Armstrong may not get much in the divorce. Find out more about Armstrong below. The Post reported in 2023 that Armstrong is a former go-go dancer with a murky past who has changed his name a number of times. By the time he moved to Florida in 2014, he began going by Brandon Foster and started dancing and promoting parties at Miami's gay clubs, including 'clothing optional' pool parties. When Armstrong left Florida around 2016 or 2017 to become a model in NYC, he adopted the name Donovan Michaels. The pair reportedly met in 2020 when Armstrong served as a personal trainer for Geffen. In December 2021, Geffen posted a now-deleted photo of himself with Armstrong celebrating Christmas on a boat. The pair reportedly tied the knot in a private ceremony in Beverly Hills, Calif., in March 2023. Showbiz411 reported at the time that the couple was married in a ceremony attended by only two other couples. In April 2023, Geffen was photographed wearing a gold wedding band when he and his much-younger husband were seen touching down at a New York City heliport. One of Armstrong's sisters would not confirm — nor deny — reports that her brother got hitched to the music mogul when contacted by The Post. Armstrong's former girlfriend, who asked to remain anonymous, told The Post in 2023 that she only knew her ex to date women but said she wasn't shocked by the news of his nuptials. 'I wouldn't be surprised. I mean, he's very attractive. He would tell me people just assumed that he was into guys from what he posts on Instagram,' she said. 'I know that he was getting comments like that from gay men, that he was really attractive and in really good shape.' Armstrong was active on his Instagram account up until 2018. The last post he made was of him working out in the gym, with him writing, 'shed some light,' as the caption. Armstrong also has an X account. TMZ reported that Armstrong will receive spousal support — but only for one year. Under California law, the receiving spouse gets spousal support for half the length of the marriage. The outlet reported that the amount of spousal support was not listed on the divorce document. The record executive stated in the docs that he will also cover his ex's attorney fees.
