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Marvin DavisBillionaire who created 20th Century Fox studios
Date of Birth: 25.08.1925
Country:  USA |
Content:
- Marvin Davis: Billionaire Entrepreneur and Philanthropist
- Early Life and Business Success
- Philanthropy and Political Involvement
Marvin Davis: Billionaire Entrepreneur and Philanthropist
Marvin Davis, the billionaire oil magnate and creator of 20th Century Fox studios, passed away at the age of 79 in Beverly Hills after a long battle with illness. He died surrounded by his family, as confirmed by his representative, Allan Mayer. Davis was also the owner of Pebble Beach Co. and the Beverly Hills Hotel. Known as "Mr. Risky Speculator," he began his business career in the oil and gasoline industry before branching out into real estate and entertainment.
In the early 1980s, Davis purchased 20th Century Fox studios. In 1984, he hired Barry Diller, who had previously headed Paramount, to lead the company. The following year, Davis sold Fox to Rupert Murdoch. After the sale, Davis built and sold the second iteration of the 20th Century Fox Plaza, this time located in Century City.
A year later, Davis attempted to buy CBS, NBC, and Metro-Goldwyn-Mayer. In 2002, he made his last bid to enter the entertainment business by attempting to purchase Vivendi Universal, which included Universal Studios, for $15 billion. However, the deal was not finalized.
In the late 1990s, Davis also made an unsuccessful attempt to bring an NFL franchise back to Los Angeles. Abandoning the bid, as the league required his family to divest its gambling interests.
Early Life and Business Success
Marvin Davis was born in 1925 in Newark, New Jersey. He graduated from New York University in 1947 and joined his father's company, Davis Oil Co., where their lucrative oil drilling activities brought them billions of dollars.
In 1980, Davis and his family relocated from Denver to Beverly Hills, where he started his second career in real estate. An avid golfer, Davis owned the Pebble Beach Co., a prestigious California resort that included four renowned golf courses. In 1990, he sold the company for $841 million to a group of Japanese investors, once stating that Pebble Beach was the closest he had ever come to falling in love with an asset.
Philanthropy and Political Involvement
Davis was not only a successful businessman but also a dedicated philanthropist. In 1977, he and his wife, Barbara, established the Children's Diabetes Foundation after their daughter, Dana, was diagnosed with diabetes. They continued to support the foundation with their financial resources.
Furthermore, Davis actively fundraised for Democratic Party candidates, with one of his close friends being Bill Clinton.
