Mogul David Geffen Donates $25 Million to Planned LA Museum
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David Geffen, a native of Brooklyn, has donated $25 million to the Academy Museum of Motion Pictures in Los Angeles.
The museum, slated to open in 2016 on the campus of the Los Angeles County Museum of Art, will “explore the art, science, and magic of the movies; examine their impact on culture; and inspire and delight legions of movie lovers,” according to the museum’s website.
Geffen is well known for his production and roles in a range of movies and television series in the ’80s and ’90s, including Bettlejuice, and the Little Shop of Horrors. He also founded DreamWorks Pictures, along with Steven Spielberg and Jeffrey Katzenberg.
“This is an exciting opportunity to be part of the creation of an iconic architectural space and cultural institution that will combine the best of the old and the new and provide a permanent public home for the Academy’s rich tradition of honoring the shining stars of the cinematic arts,” said Geffen in a statement.
Bob Iger, chair of the Academy of Motion Picture Art, said the Geffen’s support of the project is transformative.
“It takes a large and diverse group of supporters to build a project on the scale of the Academy Museum,” said Iger. “David joins an esteemed group of individuals, companies, and foundations who are leading the charge.”
The capital campaign for the museum, launched by the academy, started in 2012 and has already secured more than $150 million of the estimated $300 million goal. Annette Bening and Tom Hanks are co-chairing the campaign.
In recognition of the gift, the academy will name the theater in the museum after Geffen.