What Was Hugh Hefner’s Net Worth at the Time of His Death?

Hugh Hefner was {a magazine} writer and entrepreneur, finest referred to as the founder and former editor-in-chief of Playboy journal. Hefner was born on April 9, 1926, in Chicago, Illinois, to Glenn Lucius Hefner and Grace Caroline (Swanson) Hefner. After college schooling, Hefner turned a U.S. Military author for a army newspaper from 1944 to 1946. He then attended the College of Illinois at Urbana–Champaign and graduated in 1949 with a Bachelor of Arts diploma in Psychology and a double minor in Inventive Writing and Artwork. In the identical yr, Hefner married Mildred Williams, his first wife, and the couple divorced in 1959.

Hefner married mannequin and actress Kimberley Conrad in 1989 and the couple divorced in 2010. He then married mannequin Crystal Harris in 2012. He fathered 4 youngsters — Christie and David in his first marriage and Marston and Cooper in his second. The favored writer, whose saga is depicted within the A&E present ‘Secrets and techniques of Playboy,’ died on September 27, 2017, at 91. If you’re inquisitive about Hefner’s profession and internet value on the time of his dying, think about us your ally!

How Did Hugh Hefner Make His Cash?

After graduating, Hugh Hefner labored in Esquire as a copywriter until January 1952. When he was denied a increase, Hefner left the journal to start out his personal publication. He managed to boost $8,000 from 45 traders, together with his and his mom’s contribution. In December 1953, Hefner launched the primary difficulty of Playboy that featured {a photograph} of the long-lasting Marilyn Monroe, which he acquired from a 1949 nude calendar shoot the actress did beneath a pseudonym. Stunning himself, the problem bought greater than 50,000 copies, establishing the journal.

The success of the journal impressed Hefner to increase his model. In 1959, he hosted ‘Playboy’s Penthouse,’ a spread/discuss present that ran in syndication until March 1961. Together with the journal, he based Playboy Enterprises, which owned a series of nightclubs and resorts referred to as the Playboy Membership. The corporate operated forty such golf equipment and resorts from 1960 to 1986. In 1991, the operation of the golf equipment ceased. Hefner’s firm additionally operated quite a few casinos in america, England, and the Bahamas, which had been closed finally. In 1963, he additionally revealed a ebook titled ‘The Playboy Philosophy.’

In 1969, Hefner’s firm returned to indicate enterprise with ‘Playboy After Darkish,’ which concluded in 1970. Together with the Playboy Golf equipment and the journal, Hefner’s firm diversified its manufacturing with sexual wellness merchandise, vogue gross sales, gaming and life-style merchandise, and sweetness and grooming merchandise, including to its income. Throughout the Nineteen Nineties and 2000s, Hefner voiced and acted in a number of productions that vary from ‘The Simpsons’ to ‘Curb Your Enthusiasm.’ In 2005, he created and carried out within the actuality sequence ‘The Ladies Subsequent Door.’

Hefner’s Playboy Enterprises generated sizeable income via licensing the Playboy title, the Rabbit Head design, and different pictures, emblems, and art work of the corporate. In 2013, the corporate’s model worth created 65% of its income. In 2011, Hefner joined fingers with non-public fairness agency Rizvi Traverse to purchase his personal firm to make it non-public for about $217 million. Slightly than receiving the cash, he transferred his shares to Rizvi for a minority stake within the new firm, a $1 million annual wage, and Playboy Mansion for a lease of $100 every year.

As per studies, Hefner purchased a 5,900-square-foot home within the Hollywood Hills in 2013, for his wife Crystal Hefner. In 2016, Hefner bought the Playboy Mansion for $100 million, however he seemingly didn’t obtain the cash. Because the mansion was owned by the corporate, the cash wasn’t included in his belongings. Hefner didn’t even care to retain the manufacturers of the corporate, whose income wasn’t transferred to Hefner post-sale with Rizvi.

After the sale of the corporate, Hefner reportedly owned roughly 36.7% of Playboy Enterprises Worldwide. Hugh Hefner died on September 27, 2017, within the Playboy Mansion in Holmby Hills, Los Angeles, California. His belongings had been apparently inherited by his daughter Christie Hefner and sons David, Marston, and Cooper Hefner. Studies additionally recommend that he left part of his belongings to the College of Southern California Movie Faculty and different charities.

Hugh Hefner’s Net Worth

Hugh Hefner’s internet value on the time of his dying was estimated to be round $50 million. Upon his firm’s sale, Hefner’s belongings and value decreased significantly and he didn’t personal a lot actual property throughout his final days.

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