Hugh Hefner was a publication author and also entrepreneur, best understood as the owner and also former editor-in-chief of Playboy publication. Hefner was birthed on April 9, 1926, in Chicago, Illinois, to Glenn Lucius Hefner and Grace Caroline (Swanson) Hefner.
Hefner married model and starlet Kimberley Conrad in 1989 and the couple divorced in 2010. He after that wed version Crystal Harris in 2012. He fathered 4 children– Christie and also David in his very first marriage and also Marston as well as Cooper in his second. The popular author, whose legend is portrayed in the A&E program ‘Secrets of Playboy,’ passed away on September 27, 2017, at 91. Consider us your ally if you are curious regarding Hefner’s profession and net worth at the time of his death!
How Did Hugh Hefner Make His Money?
After finishing, Hugh Hefner worked in Esquire as a copywriter till January 1952. When he was rejected a raise, Hefner left the publication to begin his own publication. He handled to increase $8,000 from 45 capitalists, including his and his mom’s contribution. In December 1953, Hefner launched the first problem of Playboy that included a photograph of the iconic Marilyn Monroe, which he got from a 1949 naked calendar fire the starlet did under a pseudonym. Shocking himself, the problem marketed greater than 50,000 duplicates, establishing the publication.
The success of the magazine inspired Hefner to expand his brand. Along with the publication, he founded Playboy Enterprises, which possessed a chain of hotels and also nightclubs recognized as the Playboy Club. Hefner’s company likewise ran various gambling enterprises in the United States, England, and also the Bahamas, which were shut at some point.
In 1969, Hefner’s company returned to reveal company with ‘Playboy After Dark,’ which wrapped up in 1970. Along with the Playboy Clubs and also the publication, Hefner’s business diversified its production with sex-related wellness products, fashion sales, video gaming and also lifestyle items, and charm and also pet grooming products, including to its earnings.
Hefner’s Playboy Enterprises produced large profits via certifying the Playboy name, the Rabbit Head style, and various other photos, trademarks, as well as artwork of the firm. In 2013, the firm’s brand worth developed 65% of its revenue. In 2011, Hefner joined hands with personal equity company Rizvi Traverse to buy his own company to make it exclusive for regarding $217 million. Rather than getting the cash, he transferred his shares to Rizvi for a minority risk in the new firm, a $1 million annual salary, as well as Playboy Mansion for a rental fee of $100 per annum.
As per records, Hefner bought a 5,900-square-foot home in the Hollywood Hills in 2013, for his partner Crystal Hefner. Hefner really did not also care to preserve the brands of the business, whose revenue had not been transferred to Hefner post-sale with Rizvi.
After the sale of the firm, Hefner apparently possessed approximately 36.7% of Playboy Enterprises International. His assets were evidently acquired by his child Christie Hefner and also children David, Marston, and Cooper Hefner.
Hugh Hefner’s Net Worth
Hugh Hefner’s total assets at the time of his fatality was estimated to be around $50 million. Upon his business’s sale, Hefner’s assets and worth decreased considerably and also he did not very own much realty during his last days.