As the founder of Playboy magazine, it’s no surprise that Hugh Hefner accumulated a large sum of money over the course of his accomplished life. Recent estimates suggest that the businessman had an estimated net worth of about $50 million at the time of his death.
Read on to learn more about Hugh Hefner’s net worth.
1. His Net Worth Was Reportedly over $200 Million at Playboy’s Peak
Hefner is said to have launched Playboy after asking for $8,000 in loans from friends, relatives, and the bank. He, himself, contributed just $600 to the magazine’s premiere publication. The first issue of Playboy hit newsstands in December 1953. According to INC, nationwide sales of the first issue reached 50,000.
By 1971, Playboy was selling 7 million copies each month.Gazette Review reports that Playboy was making $12 million a year at the time– the equivalent of $70 annually today.
2. The Playboy Mansion Was Sold for $100 Million in August 2016
In August 2016, Hefner sold the famous Playboy mansion to 33-year-old Daren Metroupoulos for $100 million. Metroupoulos, the son of billionaire investor C. Dean Metropoulos and principal at the investment firm Metropoulos & Co, purchased the home under the condition that Hefner would be allowed to remain in the residence for the remainder of his life, according to the LA Times. The outlet reported that Playboy Enterprises agreed to pay $1 million a year to lease the property.
The estate was initially listed for $200 million. It was acquired in 1971 for about $1.1 million.
3. He Had a Modest Upbringing
Hefner came from humble beginnings. Born in Chicago on April 9, 1926, he was the first child of Grace Caroline and Glenn Hefner, who were both teachers and strict Protestants.
In high school, Hefner filled his time illustrating cartoons for the school newspaper. During WWII, he served as a writer for a military newspaper in the Army. Hefner graduated from the University of Illinois at Urbana Champaign in 1949 with a BA in Psychology and a double minor in creative writing and art.
4. Playboy Stock Prices Fell Drastically Between 2000 and 2010
Playboy reached its peak in the mid 1970s. Over the last 15 years, however, magazine sales have decreased dramatically, threatening the Playboy empire.
According to data from the Publishers Information Bureau, the magazine sold 765 ad pages in 2000, and only 311 in 2009. That same year, the magazine reduced its circulation schedule to 11 issues a year. In 2011, a leveraged buyout resulted in Hefner losing about 80 of his shares in Playboy, according to Coed.
5. He Has Donated Money to the Democratic Party, Film Schools, and Autism Research
While he made a great deal of money, Hefner also donated large sums to a variety of causes. In 2016, he donated $2 million to the University of Southern California’s School of Cinematic Arts. Three years prior, Hefner and Jenny McCarthy raised money to fund Autism research.
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