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THE RICH LIST

8 Mega-Wealthy Gays: Who Are They, How’d They Make Bank, And Are They Single?

By DAN AVERY April 6, 2012 at 6:07am · Updated on August 29, 2012

Last month, Forbes magazine released its list of the richest people in the world. (Mexican telecom giant Carlos Slim Helu topped the chart again with a cool $64 billion.) So, as we’re all scraping our nickels together to send to the IRS in time for Tax Day, we thought it might be interesting to take a look at a few of the wealthiest gays on the planet. Aside from all being white dudes, the folks in our roundup are pretty diverse: There’s self-made men and children of wealthy families, flamboyant entertainers and brainy Internet whizzes (like Facebook’s Chris Hughes, above), cryptic conservatives and bleeding-heart liberals. Of course, this list will engender debate over who was left off: There are those whose public profile and influence outstrip what’s in their wallets, like talk-show host Ellen DeGeneres and Rep. Barney Frank. Then there are those people whose net worth couldn’t be confirmed, like former Proctor & Gamble exec Susan Arnold and Hollywood super-producer Scott Rudin. And lastly, there are people who’ve never officially come out, like entertainment honcho Sandy Gallin and Apple CEO Tim Cook. We’ll be revisiting power gays in the future, but for now it’s all about the Benjamins! Do you model yourself after one of our picks? Did we miss a well-moneyed ‘mo? Drop a dime in the comments. Click through to meet eight of the wealthiest gay people in the world Photo via Facebook

Elton John, 64 Estimated net worth: $200 million How he made his money: Music Pet cause: The Elton John AIDS Foundation Who would have guessed that this pinball wizard would grow up to become one of the wealthiest gay entertainers of our day? A pop superstar since the 1970s, John truly struck gold with his singing and composing duties on Disney musicals like The Lion King. Of course his love of shopping has put a dent in his net worth: At the start of the new millennium, John admitted to spending £30 million ($47 million) in just under two years. In 2001, he auctioned off 20 cars at Christie’s, admitting he never got the chance to drive them. And, more recently, he sold the entire contents of his home in Holland Park in order to turn it into a contemporary art museum. (John is believed to have one of the largest private collections of photography in the world.) He might be a material girl, but Sir Elton has been giving back to the community for years, from “That’s What Friends Are For,” the charity song he recorded with Dionne Warwick and Gladys Knight, to his annual over-the-top White Tie & Tiara Ball, which raised more than $7.3 million in one evening.   These days Elton spends his days with husband David Furnish and their 2-year-old son, Zachary. But his bad-boy days are hardly over, as he proved in his recent catfight with Madonna over the Golden Globes. Even though Madge nabbed the Best Original Song award, with half-a-billion in the bank, Elton is the true Queen of Pop. And with his tastes in expensive trinkets, we’re sure he has the tiara to prove it. Photo by David Shankbone
Tim Gill, 58 Estimated net worth:  $400 million How he made his money: Computer software Pet causes: The Gill Foundation, Gill Action Fund Tim Gill filled his coffers in the first computer-boom era by founding Quark with a $2,000 loan from his parents. (A fact you might want to remind Mom and Dad of the next time you hit them up for cash.) As a software provider, the Colorado-based company was highly successful but it took a serious nosedive when it tried to expand into other areas. (Gill was forced to lay off half his employees.) The introduction of QuarkXPress in 1987 put the company back on track and made Gill a millionaire many times over. He sold his interest in Quark in 2000 and began focusing full time on philanthropy and gay activism.   It was the passage of Colorado’s Amendment 2, which outlawed laws banning discrimination against gays, which sparked Gill’s interest in LGBT advocacy in the early 1990s.  Since then, he has funneled nearly $200 millions toward gay causes with the charitable Gill Foundation and the political-orientated Gill Action Fund. In 2003, Gill created Connexion.org as a social-media tool to connect gays and lesbians in political action. (He closed the company in 2011.) Wealthy, active and community minded? He’s certainly a catch. But, sorry fellas, Gill is taken: He and banker Scott Miller married in Massachusetts in 2009. Photo: The Gill Foundation  
Jann Wenner, 66 Estimated net worth: $700 million How he made his money: Magazine publishing Pet cause: Rock & Roll Hall of Fame Foundation Unlike some on this list who inherited wealth or made their fortunes with one huge public offering, magazine magnate Jann Wenner built his media empire page by page over more than 40 years. In 1967 he started Rolling Stone magazine, helping to launch the careers of later luminaries like Hunter S. Thompson, Annie Leibovitz, Cameron Crowe and Tom Wolfe. Today, Wenner Media also includes Men’s Journal and the successful celebrity tabloid US Weekly. Wenner has made some enemies along the way, too, including former employees who claim he runs RS by fiat, and musicians who say his involvement in the Rock & Roll Hall of Fame has kept numerous artists from being honored. Wenner’s ex-wife, Jane, might not be his biggest fan either: The two married in 1968 (after Jann borrowed $7,500 from her family to start Rolling Stone), but split in 1995 when he came out as bisexual. Since then he has been partnered with model/designer Matt Nye, with whom he raises son Noah and twins Jude and India Rose. Photo: Mark Seliger
 

Chris Hughes, 28 Estimated net work: $700 million How he made his money: The Internet Pet causes: Jumo, New Republic Back in 2003, Chris Hughes teamed up with fellow Harvard undergrad Mark Zuckerberg to start a website they called “The Facebook.” Nearly a decade later, the company that practically is the Internet has given Hughes and fiancé Sean Eldridge a more-than-comfortable nest egg. But Hughes didn’t just rest on his laurels: He served as president-hopeful Barack Obama‘s social-media point person in 2008 and, in 2010, founded the charity-networking site Jumo.  In March 2012, Hughes became the new publisher of The New Republic after buying a majority share in the magazine. He didn’t make the move to accrue more wealth because, well, no one’s gonna make money on a print magazine these days. “Profit per se is not my motive,” Hughes told The New York Times about the new venture.  “I believe in the type of vigorous contextual journalism that—we in general as a society—need.” You can bet this towheaded Internet wunderkind will be throwing his editorial weight into the upcoming presidential race. Photo via USV

Michael Kors, 52 Estimated net worth: $780 million How he made his money: Fashion Pet causes: Council of Fashion Designers of America, amfAR, cancer research We all love Kors as the delicious bitchy tangerine that helps auf designers on Project Runway, but the Long Island schmatta merchant started his career in fashion at the tender age of 19. Just three years later, he launched a womenswear line at Bloomingdales, Saks, Neiman Marcus and other luxury department stores, and has put frocks on the back of Jennifer Lopez,  Michelle Obama, Runway pal Heidi Klum and Catherine Zeta-Jones.  Kors is also credited with restoring French luxury brand Celine as one of the major European couture houses. In December 2011, Michael Kors Holdings filed with the SEC to raise $751 million in its initial public offering. But don’t put your gold-digging heels on just yet: Kors married longtime partner (and former intern) Lance LePere in August 2011. Photo via Ed Kavishe
Jon Stryker, 54 Estimated net worth: $1.2 billion How we made his money: Family wealth, investments Pet cause: The Arcus Foundation The grandson of medical-supply pioneer Homer Hartmen Stryker, Jon Stryker has added to his substantial family fortune with a successful career as an architect and building rehabber. But he’s big on philanthropy, too, donating almost $250 million toward his two passions—gay rights and primate preservation. (The Myanmar snub-nosed monkey was named Rhinopithecus strykeri in his honor.) His biggest charitable effort is the Arcus Foundation, which recently endowed Kalamazoo College with more than $23 million for the creation of the Arcus Center for Social Justice Leadership. Stryker’s personal life is a little complicated: Though he was married and has two children, he came out as gay after his divorce. Currently, he’s tri-coastal (sort of), with homes in Kalamazoo,  Palm Beach and New York (in the ritzy Time Warner Building, no less). We haven’t dug up any reports of a significant other, so if you’re a power gay in one of those cities, feel free to look him up. Photo: Jurek Wajdowicz  

Peter Thiel, 44 Estimated net worth: $3 billion How he made his money: The Internet Pet causes: Ron Paul’s presidential campaign, Singularity Institute for Artificial Intelligence, The Committee to Protect Journalists Peter Thiel made the majority of his billions with a few very smart investments—mainly in two little start-ups called PayPal and Facebook. As the co-founder of PayPal, Thiel helped make the company the go-to source for online payment, eventually selling to eBay. After that, he famously served as Facebook’s angel investor, betting $500,000 that the social-networking site would take off. Now his stock in Mark Zuckerberg’s company is currently worth an estimated $1.7 billion. Can you say “jackpot”? This German-born super-investor is a tough nut to crack: Openly gay, he’s also a noted conservative who identifies as a libertarian. He donated $1.7 million to Ron Paul’s presidential campaign and hosted a “HomoCon” fundraiser with gay nemesis Ann Coulter in his New York apartment. So even though Thiel is supposedly single, we’re not so sure tying the knot is one of his top priorities. For a closer look at Peter Thiel read Queerty correspondent John Gallagher’s analysis of his connection to Ron Paul. Photo via the Thiel Foundation  

 

David Geffen, 69
Estimated net worth: $5.5 billion
How he made his money: Film and music
Pet causes: GMHC, UCLA School of Medicine

David Geffen has been slowly building his multi-billion-dollar fortune for more than 40 years, first as a record producer (he discovered The Eagles), then in films (he discovered Tom Cruise), and finally as a studio mogul. (Along with pals Steven Spielberg and Jeffrey Katzenberg he co-founded DreamWorks SKG.)

A previous Forbes Rich List honoree, Geffen (above at center) has allegedly promised to donate whatever money he makes from now on to charity. Geffen gave $200 million endowment to the UCLA School of Medicine in 2002, donated $5 million to what is now the Geffen Playhouse and has made notable contributions to New York’s Gay Men’s Health Crisis, Barack Obama‘s presidential campaign and the fight against California’s Proposition 8

Though he didn’t publicly reveal he was gay until later in life, Geffen did date Cher back in the ’70s—which might as well count as  coming out, right?  And, having recently ended a 6-year romance with 27-year-old model/DJ Jeremy Lingvall, Geffen is easily the most eligible bachelor in all of gaydom. You hear that boys? He’s single!

 

 

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33 Comments*

  • fagburn

    Tim Cook?
    Calvin Klein?

  • fagburn

    Oops. You did TC in the intro – apologies.

  • tj

    David Geffen should be ashamed of himself every time I see that picture I want to vomit
    If you want to have a side piece thats fine I guess but for god sakes commit to someone
    above 40 at least. What a disgraceful embarassing picture. UGh

  • ron

    I wonder what it’s like to literally “come” into money…..

  • Bi-Coastal

    Wait-wait-wait: Judging from all of the OWS support on this site, I was under the impression that rich people are evil “one percenters”—but that’s unless they’re gay, apparently. I guess in the world of gay politics, sexuality trumps ideology. Lesson learned.

  • Clockwork

    The GLBT wealth that matters – All the small households of couples or singles:

    Did quite well thanks to the employment gains, promotion and opportunities in management, equity and bond gains (including stock options), business entrepreneurship, home ownership and real estate ->

    From around 1982 throughout the 1980’s, 1990’s ( a fab decade for gay wealth), and of course the Greenspan Fed gay bubble in home equity of the 2000’s.
    The past 5 years have been a giant sucking sound of losses in wealth for many Americans,
    gays included. I don’t expect much improvement in making new GLBT $10,000, $100,000, and
    millionaires in this economy of wealth squashing Obama-nomics.

  • troy

    Such a silly inaccurate list. Would be different if we all knew who was actually gay or not…

  • Kirk

    @Clockwork: So true. My husband and I played by the ‘rules’ during the 90s/early 2000s, worked hard, accumulated wealth, etc. Now we are doing whatever we can to shelter, hide, protect what we’ve legally earned and accumlated so that it is not taken away from us to cover folks that made bad decisions during that period. My god, if not for social issues, we’d easily be republicans!

  • Kamikapse

    Always fun to read how paranoid republicans like No. 6 & 8 are with their conspiracy theories how everyone is out to get them and their money.

  • Clockwork

    >@Kamikapse:
    >conspiracy theories how everyone is out to get them and their money.

    Nice try dude, but I have no idea where you get conspiracy from:

    Obama’s economic performance is sub-par that of Reagan, Bush 1, Clinton,
    and even Bush to 2006.

    Obama’s GLBT equality record is unmatched by anyone.

    No conspiracy there…just the truth

  • Mark Snyder

    @Clockwork: Get your facts right. Reagan increased taxes on the rich too.

  • Zach2

    @tj: Ashamed?, heck ,I’m envious.

    (There is always some troll posting who is bitter about some others gays life.)

  • Clockwork

    @Mark Snyder:

    I didn’t mention taxes fool. I’m not even sure what rates you are taking about.
    Maybe you meant Clinton.
    Anyway it’s about more than taxes.

    Either way you slice it;
    Obama’s economic results are very poor compared to Reagan, Bush 1, and Clinton.

  • Alan Brickman

    Such control queens on here…David Geffen can date whoever he likes….isn’t that an equal right too?…

  • Alan Brickman

    And also women are dating younger too I notice….

  • Bipolar Bear

    Shame that this thread has degenerated into a political shitfight. I found this list really inspiring, not because of the wealth these guys have accumulated, but because what some of them have accomplished.

    Starting Facebook and Paypal? Rolling Stone magazine?

    And I always think Elton John doesn’t get enough recognition for the fact that he has made some of the greatest music in the history of rock’n’roll. While we’re busy idolising Kylie and Madonna, we don’t bother namechecking this guy unless he’s had a hissy fit in public. Real talent, and he’s one of ours.

  • EvonCook

    @tj: This is a real queeny and bitchy remark.

  • EvonCook

    @Clockwork: Largely because Obama kept the same pathetic financial people in positions of power advising him.

  • EvonCook

    Always wonder why the super rich gay Koch brother is never mentioned. His straight brothers get all the attention and support such hate and monstrous conservative causes. Also hope none of these guys supports the New York charity Housing Works which pretends to be gay but is very corrupt and financially mismanaged. One more “gay” organization screwing our community.

  • Roddie

    @Kamikapse: I love it when poor insecure queens use labels to cover thier own insecurities about their station in life.

  • adam

    boring, boring, who cares?, and boring.

    btw, why didn’t the gay co-founder or whatever of facebook show up in the movie “the social network”? was zuckerberg an insufferable prick to him, too, as he was portrayed to be toward every other character in the movie?

  • TGC

    @Bi-Coastal: I was going to ask if these folks “pay their fair share” (whatever the hell that means).

  • TGC

    @Bipolar Bear: Inspiring, yes. But my question is where’s the inspiration and the motivation from the left to work hard and make wealth of any amount? There’s very little if any. All you hear about is how eeeeeeeevil the rich are and how coporations are so bad for sitting in their corporate offices and acting all corporationy. Plus, where’s the motivation to work hard and do something great or provide something the market wants when you can get a check for sitting at home and watching Martha?

    Perhaps we could have more wealthy gays and more wealthy Americans generally if so many weren’t taught that you’re an evil bastard for succeeding.

  • Watching

    “Aside from all being white dudes, the folks in our roundup are pretty diverse.”

    That is hilarious. Queerty, you should be on stage. To quote Tom Lehrer, “Apart from that Mrs Lincoln, how did you enjoy the play?”

    I’m glad #8 put his overriding concern so honestly and succinctly. That despite other people having completely different life circumstance, gosh, if it weren’t for those SOCIAL issues, he had his husband would be Republicans! I’ve often said that. So many gay men would be Republicans if it weren’t for that petty little annoyance of being homes that stops them from being fully privileged–you know, the way they deserve to be.

    It’s worth seeing the documentary “Vito”. He said it better than I can here. It’s a shame there aren’t more gay activists like him today concerned with real inclusivity and the commonality of so many marginalisations.

  • GBro

    Haha… Forbes…
    http://outweek.net/pdfs/ow_38.pdf

  • Kyle412

    I guess wealth can’t buy looks. Not a very attractive crowd.

  • seaguy

    If you think that is bad, then surely you will not like Calvin Klein and his boytoy!
    @tj:

  • samirluz

    @troy: please add my yahoo like talk you ; [email protected]

  • Bryan

    Where’s Tim Cook on this list? CEO of Apple and highest paid CEO in 2011…

  • Schlukitz

    @Kyle412:

    Um…where is your picture posted so that we can make unflattering comments about it as you have just done with others?

    Commenting on political differences, social differences and financial differences is fair game.

    Personally attacking people for their appearance is really below the belt. It’s right up there with ageism, misogyny, homophobia and racism.

  • Randall

    @Kyle412:

    Jerk, you don’t know much about Economics. A President’s ability to change a bad economic situation is pretty limited, especially when he does not control both Houses of Congress. Besides Economics have become so international that any one country, however big, can’t unilaterally change the status quo. And what moronic President got us into this mess anyway? He seems to be hiding out in Texas and giving few, if any interviews. He should have been tarred and feathered on his way out of Washington.

  • NYfather

    Sheldon Addelson, Slim Helu, and Sumner Redstone are gay but closeted. All three have had gay lovers.

  • enlightenone

    I’ll take the handsome Black man, the most powerful in the free world! The millions will come! I know he’s heterosexual, but I’m “versatile” – my definition of the word. Lol!

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