Hugh Hefner Net Worth

Hugh Hefner net worth:$50 a million

Hugh Hefner was an American entrepreneur and founding father of Playboy Journal who had a net worth of $50 million at the time of his death in September 2017.

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Early Life:

Hugh Hefner was born in Chicago, Illinois on April 9, 1926. He was the primary little one of Glenn Lucius Hefner and Grace Caroline Hefner. They have been from Nebraska and labored as an accountant and an instructor, respectively. He has one youthful sibling, Keith. Hefner attended Sayre Elementary School and Steinmetz High School. After high school, Hugh served from 1944-1946 as a U.S. Army author for an army newspaper. Hefner graduated from the University of Illinois at Champaign-Urbana in 1949. He earned a Bachelor of Arts in Psychology and a double minor in Creative Writing and Art in simply two and a half years. He did one semester of graduate lessons in Sociology at Northwestern however dropped out Hugh Hefner Net Worth:

Playboy Magazine:

In 1952, Hefner was working as a copywriter for Esquire Journal. He inquired about a couple of $5 elevate and when he was denied, he stop his job. In the following 12 months, he took out a mortgage of $600 and raised $8,000–together with $1,000 from his mom–from traders to launch a gentleman’s journal with the notorious centerfold, Playboy (initially, he was going to name the journal Stag Party.) The first situation was revealed in December 1953, nearly 12 months to the date after he stop Esquire. The first cowl and centerfold was Marilyn Monroe, taken from her 1949 nude calendar shoot.

The situation bought over 50,000 copies and bought for 50 cents apiece. Hefner had produced the journal in his Hyde Park Kitchen.

Hefner served because the chief inventive officer of Playboy Enterprises, which is the publishing group that operates the journal. Hugh promoted a lifestyle of luxury in his journal and within the tv reveals he hosted, Playboy’s Penthouse from 1959-1960 and Playboy After Dark from 1969-1970.

In June 1963, Hefner was arrested for selling obscene supplies after publishing a difficulty of Playboy that includes nude photographs of Jane Mansfield on a mattress with a person. The case went to trial and the end result was a hung jury.

Other Work:

Hugh created “private key” golf equipment that has been racially numerous throughout the civil rights movement. In 1966, Hefner despatched Alex Haley (an African American man) to interview George Lincoln Rockwell, who had based the American Nazi Party.

Brando ended up profitable an Emmy Award for his portrayal of Rockwell. Haley additionally interviewed Malcolm X in 1963 and Martin Luther King Junior in 1966. Strangely, all three interviewees had been assassinated by 1968.

Hence, the journal has continued to publish brief tales by well-known novelists equivalent to Arthur C. Clarke, Ian Fleming, Chuck Palahniuk, Roald Dahl, Margaret Atwood, Shel Silverstein, and numerous others.

Although the journal reached its peak within the ’70s and moved from a month-to-month journal to a quarterly one in 2019, it nonetheless continues to take pleasure in reputation and circulation.

Playboy Mansion:

The 21 thousand sq. foot Playboy Mansion in Los Angeles, California is the place Hugh lived from 1974 till his death in 2017. The mansion grew to become well-known within the 70s for the lavish events Hugh would throw, attended by celebrities and socialites. The mansion boasts an astonishing 29 rooms, a wine cellar, a movie show, three zoos, tennis and basketball courts, a waterfall, and a number of swimming pools. Interestingly, most individuals assume Hugh himself truly owned the well-known Playboy mansion, however, the truth is he didn’t. Playboy Enterprises owned the home and Hefner paid an annual charge to cowl the lease and different bills like meals and events.

In typical years, that lease got here to around $1 million. And sure, that additionally consists of the room and board for Hefner’s live-in girlfriends. In January 2016, Playboy Enterprises introduced that it had put the mansion up on the market for $200 million. A comparable home in the identical neighborhood would probably be worth $60 – $80 million, so it is a hefty premium. However, there’s just one Playboy Mansion on this planet! The mansion was purchased in June 2016 for $110 million by Daren Metropoulos. Daren, who was 32 at the time of Hefner’s death, is the son of billionaire businessman C. Dean Metropoulos. Hence, his father is well-known for reviving sagging manufacturers like Hostess, Bumble Bee Tuna, Pabst, and Chef Boyardee. As of April 2020, the Playboy Mansion is in the present process of intensive renovations.

Personal Life:

Hefner married high school sweetheart Mildred Williams in 1949. He has stated publicly that the admission was devastating. Reportedly, Mildred allowed him to sleep with different girls out of guilt for her personal infidelity. Hence, the two were cut up in 1959. They had two youngsters collectively, Christie and David. After the divorce, Hef remade himself as a “man about town”, in keeping with the approach to life he promoted in Playboy.

Hence, he admitted to being concerned with eleven out of twelve months’ worth of Playmates. They had two sons, Marston and Cooper.

Appearances:

Hugh Hefner voiced himself in a 1993 episode of The Simpsons, Krusty Gets Kanceled. Hefner additionally visitor starred as himself in a 2000 episode of Sex and the City. In 2005, he guest-starred on Entourage and Curb Your Enthusiasm. Other tv visitor appearances embrace Robot Chicken, Family Guy, and Miss March. He has made a number of visitor appearances in movies as properly. From 2005 to 2010, Hugh created and appeared typically in actuality present about his life and his many girlfriends who lived with him in the Playboy Mansion: The Girls Next Door.

Net Worth:

At the height of Playboy, Hefner’s net worth was over $200 million. Unfortunately, the corporate didn’t carry out properly over the past 10-15 years as journal gross sales have diminished quickly. So, in the interval between 2000 and 2010, Playboy’s inventory value fell by 80%. Another non-public fairness agency referred to as Rizvi Traverse finally purchased Icon. At the time of his death, Hefner owned 35% of the Playboy Model and 100% of the particular journal.

Here is how Hefner broke down his personal funds in a court docket submitted again in 2009:

Monthly earnings:

• Salary from Playboy: $116,667
• Social Security: $1,896
• Dividends and curiosity: $121,099
• Rental property: $17,058
• Income from HMH Productions: $15,808
• Pensions and retirement: $413
• Other miscellaneous earnings: $17,639

Total month-to-month earnings: $290,580

Other Assets:

• $306,548 in money
• $36,802,558 in shares and bonds
• $6,122,990 in a joint account with an unnamed individual

Total belongings (together with Playboy inventory and property): $43,232,096

And this is how Hugh spends his hundreds of thousands monthly:

• Rent (together with groceries, the family provides, utilities, mobile phone, and e-mail): $53,593
• Food (approximate): $18,000
• Entertainment: $25,000
• College bills for teenagers: $10,130
• Health care: $3,215

Related Post: How a lot do Playboy Playmates make?

Death:

On September 27, 2017, Hugh died at his house in Holmby Hills, Los Angeles. He was 91. He by no means met Marilyn Monroe, however in 1992 he bought the crypt subsequent to hers at the Westwood Village Memorial Park Cemetery to the tune of $75,000. Hefner is buried there. He had instructed the Los Angeles Times in 2009: “Spending eternity next to Marilyn is an opportunity too sweet to pass up.”