Peter Guber Early Life
Peter Guber was born on March 1st, 1942, in Boston, Massachusetts, United States. He went to Syracuse University after high school. Tara, his future wife, met him at Syracuse. In 1964, they exchanged vows.
After graduating from Syracuse University, Guber went on to get a law degree from New York University. He obtained a management trainee position at Columbia Pictures around the time of his graduation.
During his time at Columbia, Peter implemented a computerized filing and tracking system that replaced the company’s outdated paper records. He rose quickly through the ranks to become the director of American production. As vice president of worldwide production in 1973, he received a promotion. When he was elevated to the position of vice president, he was just 26 years old. In his stint at Columbia, Guber oversaw the production of “Shampoo,” “Taxi Driver,” and “The Way We Were,” among others.
In certain ways, “Shampoo” was influenced by the life of Jon Peters, a man who would go on to play a significant role in Gubers’ own.
Records/Filmworks of Casablanca Records
Filmworks was the name of Peter’s new company when he left Columbia. It was in 1977 that he developed “The Deep” on his own. The movie made nearly $100 million on a $9 million budget, making it one of the biggest box office hits of the year.
Neil Bogart owned Casablanca Records, which Peter acquired in 1976. It’s safe to say that Casablanca Records is most recognized for its work with Kiss and Donna Summer. In 1982, Humphrey Bogart died.
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In 1979 Peter linked up with fellow producer Jon Peters and created Polygram Productions. “Caddyshack,” “An American Werewolf in London,” “Flashdance,” and “The Color Purple” were all produced by the Guber-Peters collaboration, which later became known as Guber-Peters Entertainment.
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The next step was for Peters and Guber to leverage their success into a production deal with Warner Brothers, which was one of the most lucrative ever. With a $35 million budget and a worldwide gross of $400 million, “Batman” was Jon and Peter’s most successful film while working for Warner Brothers. Guber and Peters initially accepted a multi-million dollar contract offer from Warner Brothers because of this great accomplishment.
Guber-Peters Entertainment was purchased by Sony for $50 million just a few weeks after signing their contract, making the duo Co-Chairmen of Sony Pictures. It just so happened that they still had a deal with Warner Brothers.
A breach of contract lawsuit against the duo and Sony was filed by Warner against them for 1 billion dollars. A $500 million settlement was reached between Sony and Warner Brothers to end the two companies’ contracts. Consequently, Sony Pictures’ co-chairmen Jon Peters and Peter Guber were named co-chairmen. This was their first foray into the world of running a huge studio.
Peters and Guber oversaw the creation of scores of high-profile and expensive films during their time at Sony, many of which were box office duds. The Peters-Guber era saw Sony lose more than $3 billion in production and other costs due to their oversight of $8 billion in expenditures. Peter and Jon left Sony in the mid-1990s with severance packages totaling $30-50 million each.
Investments in sports
Joe Lacob was one of the investors who purchased the Golden State Warriors in 2010 with Peter Guber for $450 million. Guber serves as the team’s co-executive chairman and co-manager. Besides the Los Angeles Dodgers, Guber owns a small stake in the soccer team Los Angeles Football Club.
Peter Guber’s Net Worth
Peter Guber is an American film producer, sports team owner, and investor who has a net worth of $800 million. The 1970s saw the rise to prominence of Peter Guber in the entertainment business. Mandalay Entertainment Group, the multimedia entertainment firm he created in 1995, has Guber as its Chairman and CEO. Guber transformed Mandalay into a major player in the film, television, and sports entertainment industries. It’s not hard to find a few notable Mandalay films, like “The Kids Are All Right,” “Soul Surfer,” and “Bernie.”
While at Sony Pictures and Polygram Entertainment he was also the Chairman and CEO. Casablanca Record & Filmworks and Columbia Pictures were among his previous roles. Rain Man, Batman, The Color Purple, Midnight Express, Gorillas in the Mist: The Story of Dian Fossey, The Witches of Eastwick, Missing, and Flashdance were all produced or executive produced by Guber. At least 50 Academy Award nominations have been made for his films, which have grossed more than $3 billion worldwide.
Peter’s 2011 book “tell to Win” was a New York Times best-seller, and he now holds the position of number one. He has also written several additional works.
Peter is perhaps best recognized now as one of the owners of the Golden State Warriors NBA franchise. The Warriors were purchased by a consortium of investors in 2010 for $450 million, led by Peter and Joe Lacob. The team had just a few months ago drafted a rookie player by the name of Stephen Curry. The squad has won three NBA titles under the leadership of Lacob and Guber. The current market value of the Warriors is estimated at $6 billion.