Marvin Davis Net Worth

Marvin Davis Jr. net worth is
$5.8 Billion

Marvin Davis Jr. Wiki Biography

Marvin H. Davis was born on the 31st August 1925 in Newark, New Jersey USA. He was a well-known businessman, recognized as the chairman of Davis Petroleum and the owner of various entities including 20th Century Fox, Pebble Beach Golf Links, and the Aspen Skiing Company. He passed away in 2004.

As of mid-2017, Marvin Davis’ net worth was estimated to be $5.8 billion, earned through his diverse and successful career.

Marvin Davis Net Worth $5.8 Billion

Marvin was born to Jack Davis, a fashion buyer who would later establish the Davis Oil company, and Jean Spitzer. He was raised in a Jewish household alongside his younger sister, Joan. After completing high school, Marvin pursued a Bachelor of Science degree in Engineering from New York University in 1947.

Following his university education, Marvin joined his father’s company and eventually took over, renaming it Davis Petroleum in 1986. He played a pivotal role in the creation of the oil deal known as “third for a quarter,” which provided a safeguard for oil drilling investments. In 1997, Marvin’s son Gregg assumed the position of president at Davis Petroleum and Davis Offshore.

Capitalizing on the success of his firm, Marvin expanded into real estate development with a focus on the Denver area, acquiring a shopping center and office complex.

In 1981, Marvin, along with financier Marc Rich, acquired 20th Century Fox for $722 million. He later bought out Rich’s stake in 1985, becoming the sole owner of Fox and its assets. However, he subsequently sold Fox Plaza and other properties, eventually selling his entire stake in Fox to Rupert Murdoch for $575 million.

In 1986, he purchased the Beverly Hills Hotel for $135 million and later sold it to the Sultan of Brunei, Hassanal Blkiah, for $200 million, further adding to his wealth.

Marvin was married to Barbara Levine from 1951 until his death, and the couple had five children. In 1993, they were subjected to a robbery in France, losing $10 million in jewels and $50,000 in cash. Marvin passed away on the 25th of September, 2004, in Beverly Hills, California.

Marvin was also known for his philanthropy and support of the Democratic Party. He and his family initiated the Children’s Diabetes Foundation in support of his daughter Dana, who suffers from type-1 diabetes. Thanks to his generous donations, a research facility at Cedars-Sinai Medical Center has been named after Marvin.

Marvin was laid to rest in the Westwood Village Memorial Park Cemetery in Los Angeles.

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