Music Mogul Geffen Set for $500 Million From a Warner Bros. Sale

David Geffen, the billionaire media mogul, stands to reap more than $500 million in profit from the expected sale of Warner Bros. Discovery Inc.

Geffen, 82, purchased about 30 million shares of Warner Bros. at roughly $7 to $8 a share, according to people with knowledge of the matter who asked not to be identified.