House Artwork Nailing “Cannibal” Armie Hammer: Father’s Foundations Have Over $100 Million in Belongings,…

EXCLUSIVE You might pay attention to this winter’s sizzling story: younger, good trying actor Armie Hammer, well-known from “The Social Community” and “The Lone Ranger,” is being described within the tabloids as a cannibal. Sure, the sort that eats folks. Ex girlfriends are lining as much as inform horrifying tales of Armie’s predilections for carving his initials into their thighs and suggesting he roast their not so spare ribs.

Armie, it’s fairly clear, is Christian Gray with no secure phrase.

However he’s additionally advised just a few of those gals that he’s exhausting up for cash, and so they believed him. One drove 1,400 miles with him from Los Angeles to Dallas as a result of he mentioned he couldn’t afford the aircraft fare.

Effectively, that will not precisely be true. Armie is the good grandson of deceased quarter billionaire Armand Hammer, the person who began Occidental Petroleum. When he died 30 years in the past, Hammer was regarded as value $200 million, which might be about $400 million right now. Michael inherited (together with his sister, Casey) a large chunk of that cash, in addition to two artwork galleries and two foundations.  The galleries are gone. The foundations collectively have internet property of over $100 million.

Grandfather Armand was a fairly dangerous man, in line with biographer Edward Jay Epstein. His son, Julian, was a loser with an arrest document, so all the pieces went to Julian’s son –and Armie’s dad — Michael Hammer. Michael’s declare to fame is that two years in the past he settled a multi-million case introduced in opposition to him and the 146 12 months previous Knoedler Artwork Gallery, which Michael inherited from his  grandfather. At Knoedler, Michael paid himself $400,000 a 12 months in wage and took a 20% fee on gross sales– despite the fact that he was hardly ever there.

Beneath Michael’s aegis. Knoedler — based in 1865 — was liquidated in 2011 beneath the cloud of fraud and forgery.

The demise of the famed Knoedler Artwork Gallery in artwork circles is known. Michael managed to stroll away from accusations of fraud however needed to pony up for years of creating hundreds of thousands from promoting cast work to rich patrons.

Michael Hammer used Knoedler as a private piggy financial institution. Armie’s dad, as described in US District Courtroom Choose Paul G. Gardephe’s determination (see beneath), purchased very costly vehicles (together with a Rolls Royce value over $450,000) had the gallery reimburse him, after which offered them for a revenue that he pocketed. He additionally took a number of journeys and claimed all of this as enterprise bills.

Armie benefited from all of it. From the choose’s determination:

“[Michael] Hammer frequently used a company bank card to pay for his enterprise bills
and his private bills. He additionally offered company bank cards to his ex-wife, Dru Hammer, and to his sons, Viktor and Armie Hammer, all of whom used these bank cards to pay for each enterprise and private bills. In whole, the Hammers charged $2.7 million to their company playing cards between 2005 and 2014.”

However what nailed Hammer wasn’t his wild spending. What introduced down Knoedler was the massive ticket cast artwork offered by means of the gallery for years. Michael Hammer efficiently persuaded the choose to consider he didn’t know what was happening in his personal enterprise. As a substitute, an affiliate named Ann Freedman took the autumn.

Nonetheless, all these hundreds of thousands spent by the Hammers got here from proceeds of these artwork gross sales. In the long run, Michael Hammer needed to settle hundreds of thousands with the defrauded patrons.

Within the Epstein e book about Armand Hammer known as “File: The Secret Historical past of Armand Hammer,” printed in 1996, Michael was married to spouse Dru, mom of his two sons. a Born Once more Christian from Dallas who the writer was advised was attempting to wrangle your complete Hammer fortune. She began a basis for Christian efforts beneath the title of her father, Douglas Mobley. It was Mobley, Epstein mentioned, who introduced the loss of life of Armand Hammer in 1990.

Michael Hammer had just about rejected his grandfather’s Jewish heritage, it was famous. He was donating massive sums to Christian organizations. However in 2012, Michael and Dru divorced. She’s been described by the tabloids because the sort of Christian who “lays on fingers” and “speaks in tongues.” However a supply tells me, “She’s not that dangerous.” She started her personal ministry, Hammeredheart.org, described as “serving to girls and youngsters who’ve gone by means of troublesome instances by means of divorce and abuse.”

Years in the past, Michael Hammer moved his younger household to the Cayman Islands, and that’s the place Armie is now together with his quickly to be ex spouse Elizabeth Chambers, and their two kids. They’re HQd in Cayman as a result of it’s a tax shelter, not for the great training or the meals. The Hammer Artwork Gallery, separate from Knoedler, in Manhattan closed final June due to the pandemic.

The Armand Hammer Basis carries on. On the finish of 2018, the truthful market worth of the Basis, in line with their tax submitting, was over $103 million. Michael paid himself a wage of $305,000. Its greatest asset listed within the tax return is Artwork Work valued at $66 million.

However he additionally paid a consulting price of $750,000 to a neighborhood guide known as Bull Canyon, Inc. owned by Mark Alfano, a transplanted New Jersey storage mechanic who takes care of Hammer’s 27 fancy vehicles. (The quantity comes from the choose’s abstract of the case.) Alfano, 33, has additionally been recognized recognized in a neighborhood Santa Barbara, California web site as chief of workers of the Armand Hammer Basis.

The second greatest asset famous on their Kind 990 of the Armand Hammer Basis is $4.2 million owed to them by Hammer Worldwide, a separate, second basis with property of $6 million run by… Michael Hammer. In 2018, Hammer Worldwide’s solely donation was $337,875 to the First Meeting of God– so Michael’s nonetheless a believer. Whole bills got here to $183,000 together with $11,804 for journey. Definitely, Michael Hammer would have given his film star son aircraft tickets for a go to to see mother on the vacations.

As for Armand Hammer’s authentic enterprise: it has nothing to do with Arm & Hammer baking soda. The unique firm, Occidental Petroleum, nonetheless exists though it’s unclear if Michael Hammer has something to do with it. He says in his biographical materials that he has an extended affiliation with them. However his title isn’t listed wherever on their web site.

Learn the 2019 Knoedler determination:

Knoedler MSJ Determination by showbiz411

 

 

Writer

Roger Friedman started his Showbiz411 column in April 2009 after 10 years with Fox Information, the place he created the Fox411 column. His film critiques are carried by Rotten Tomatoes, and he’s a member of each the film and TV branches of the Critics Alternative Awards. His articles have appeared in dozens of publications through the years together with New York Journal, the place he wrote the Intelligencer column within the mid 90s and lined the OJ Simpson trial, and Fox Information (when it wasn’t so loopy) the place he lined Michael Jackson. He’s additionally the author and co-producer of “Solely the Robust Survive,” a number of the Cannes, Sundance, and Telluride Movie festivals, directed by DA Pennebaker and Chris Hegedus.

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