Last Sunday, November 20, Michael Armand Hammer, father of actor Armie Hammer and American tycoon, died. Hammer died of cancer at the age of 67, and his death was confirmed by TMZ and People.
Hammer worked at the investment banking firm of Kidder, Peabody & Co. in New York before becoming involved with Occidental Petroleum, the company that Armand Hammer, his grandfather, managed for many years. Apart from this, he was also responsible for Hammer Productions, the Armand Hammer Foundation, the Hammer Galleries and the Hammer International Foundation.
Michael Armand Hammer has been involved in various controversies throughout his life. Casey Hammer, the mogul’s sister, told Vanity Fair in 2021 that her father, Julian, had inherited just $250,000 of the $40 million from her grandfather, Armand Hammer. It was Michael, his grandson, who received much of his estate, including two businesses and two art galleries.
Also, Hammer was also involved in a fraudulent business involving the sale of counterfeit paintings. In 2011 one of the tycoon’s inherited art galleries, the Knoedler Gallery, was sued by hedge fund executive Pierre Lagrange, who sued the gallery and its former director, Ann Freedman, for selling him a painting Jackson Pollock fake valued at $17 million. The allegations surfaced in 2009 and revealed that an art counterfeiting ring had existed since 1994 and had raised up to $70 million from the sale of counterfeit paintings.
A life marked by controversy
The oil tycoon was lucky and was not personally charged in connection with the fraud ring, but Several testimonies confirmed that he had used the gallery fund for his personal expenses, such as a trip to the French capital and the purchase of two luxury cars.
Due to all the controversy that has surrounded the Hammer family, not only the tycoon, but also his son, actor Armie Hammer, Discovery+ has made a documentary series for this year, titled “The Hammer Saga: Scandal and Perversion”, which exposes various scandals that have occurred in the family of billionaires, uncovering the Hammers’ dark secrets. It is available in Spain via HBO Max.
Source: E Cartelera
Bernice Bonaparte is an author and entertainment journalist who writes for The Fashion Vibes. With a passion for pop culture and a talent for staying up-to-date on the latest entertainment news, Bernice has become a trusted source for information on the entertainment industry.
