David Geffen celebrates Jeff Bezos real estate deal with $30M Hockney painting purchase
The Amazon founder paid $165M for Geffen's Beverly Hills estate
Amazon’s Jeff Bezos has purchased the most expensive house in Los Angeles and Facebook’s Mark Zuckerberg is calling for new regulation on big tech. FOX Business’ Susan Li with more.
Music and media mogul David Geffen celebrated the $165 million sale of his home by spending $30 million to reclaim a coveted piece of artist David Hockney’s work, according to a report.
David Hockney's "The Splash" is unveiled at Sotheby's on Feb. 7, 2020, in London, England. (Tristan Fewings/Getty Images for Sotheby's)
Geffen bought Hockney’s "The Splash" — London’s auction season’s priciest painting — last week, just days after the Wall Street Journal reported the 76-year-old had sold his sprawling property, the Warner Estate, to Amazon founder and billionaire Jeff Bezos, according to Bloomberg.
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The property spans 9 acres and includes a golf course, a tennis court and a pool.
Jeff Bezos' reported new $165 million home in Beverly Hills. (Google Maps)
Geffen, who Forbes has estimated is worth just more than $9 billion, had previously owned the 1966 piece of art but sold it in 1985, the outlet reported, citing Sotheby’s. Prior to the most recent sale, "The Splash" was owned by Chinese billionaire and art collector Joseph Lau.
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Lau, a fugitive and convicted felon, bought Hockney’s piece for $2.78 million in 2006, according to the report.
David Geffen on Nov. 19, 2019, in New York City. (Paul Bruinooge/Patrick McMullan via Getty Images)
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Geffen, a prominent art collector, founded Geffen Records, Asylum Records and DGC Records and co-founded DreamWorks Animation, Forbes reported.