Michael Armand Hammer, businessman and actor Armie Hammer’s father, died on Sunday (November 20) after a long battle with cancer. He was 67 years old. On Tuesday (November 22), sources close to the family told TMZ that Michael had been ill and had been fighting cancer for years.
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The businessman rose through the ranks of Occidental Petroleum, which was founded by his grandfather, industrialist Armand Hammer. Throughout the years, he also oversaw the Armand Hammer Foundation, Hammer Galleries, and the Hammer International Foundation.
Age and place of birth
Hammer was born on September 8, 1955, in Los Angeles, California, to Glenna Sue Ervin and Julian Armand Hammer. In 1978, he graduated from the University of San Diego, and in 1982, he received his MBA from the Columbia University Graduate School of Business.
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Family and Net Worth
Hammer had two children with his ex-wife Dru Ann Mobley: actor Armie Hammer, 36, and businessman Viktor Hammer, 34. From 1985 to 2012, he and Mobley were married for 27 years. Michael is estimated to have a net worth of $1.5 million, according to All Famous Birthday.
Hammer was well-known for his work with Occidental Petroleum Corporation, the company founded by his late grandfather, oil magnate Armand Hammer. He was also in charge of the Hammer International Foundation, Armand Hammer Foundation, Hammer Galleries, and Hammer Productions.
Prior to joining Occidental Petroleum in 1982, he worked in various capacities at the New York investment banking firm Kidder, Peabody & Co. Michael’s sister Casey Hammer revealed to Vanity Fair in 2021 that their father Julian received only $250,000 of their grandfather’s $40 million fortune. Michael received the lion’s share of the estate, which included two art galleries and two foundations.
Knoedler Gallery, one of Hammer’s inherited art galleries, became embroiled in a massive art scam in 2011 when hedge fund executive Pierre Lagrange sued the gallery and its former director Ann Freedman for selling him a fake Jackson Pollock painting for $17 million. These allegations, which first surfaced in 2009, alleged a $70 million forgery ring that had been selling counterfeit paintings since 1994.
Although Hammer was not personally charged with any wrongdoing in connection with the fraud ring, testimony in court claimed that he had used the gallery’s funds for personal expenses such as a trip to Paris and two luxury vehicles. The Discovery+ docuseries “House of Hammer” focused on the Hammer family, revealing numerous scandals in the family’s history.
