Once it was one of the most important and influential record labels in the music industry. Now, after many years away, Geffen Records is officially back in business. Geffen Records was created in 1980 by music industry titan (in the making) David Geffen, and the company wasted no time in making sure it led the charts and moved culture with many groundbreaking releases. Geffen Records reportedly sold for about $800 million, and since then the man who started it all has gone on to become a billionaire philanthropist. The name Geffen still stands as a part of Interscope Geffen A&M, an extremely powerful label conglomerate that works with many of the biggest and most successful artists in the music industry.

Source: Forbes March 23, 2017 14:15 UTC