Hugh Hefner, Net Worth, Money and More
Net Worth : $43 million
Founder and the chef creative officer of Playboy Enterprise, Hugh Hefner has an estimated net worth of $43 million.
Life & career
Hefner the finding father of playboy was born in Chicago into a working class family. Hefner along with his younger sibling grew up in Chicago it self. Hefner has described his family to be conservative and Methodist. Hefner attained his early education from Steinmetz High School and later graduated from University of Illinois with bachelors in psychology and attained double minor in art and creative writing. Hefner Initially worked for a United States military newspaper within the Army from 1944 to 1946. His first step into the actual media industry was when he started working as a copywriter for Esquire, However Hefner demanded a raise of $5 in salary which was denied and hence Hefner left the job. It was in the year 1953 that Hefner got idea to launch Play Boy. To launch it he needed funds and in order to raise funds, Hefner pawned his furniture and asked for money from investors. Hefner managed to generate $8000 to launch playboy which was initially going to be called “Stag Party”. Hefner’s venture’s first issue was published soon the same year, and became a hit. First issue of playboy magazine sold over 50,000 copies. It featured Marilyn Monroe’s nude pictures from her calendar shoot in 1949. the same year Hefner published a science fiction short story by Charles Beaumont in his magazine. The story focused on homosexuality. the magazine received many angry letters from the readers as well as from critiques. however, Hefner said, ” If it was wrong to prosecute heterosexuals in a homosexual society then the reverse was wrong too.” Apart from this controversy, Hefner has found himself in controversies time n again due to erotic and obscene pictures in his magazine. At an instance, Hefner’s secretary was found dead in a hotel in Chicago because of Cocaine overdose. Her boyfriend was a drug dealer. Hefner was deeply moved by her death and called a press conference in which he blamed narcotics agents and federal officers of driving his secretary to commit suicide. He claimed that government has intentionally did this to bring down is Successful magazine playboy because its Philosophy is in favor of liberal drug laws. Hefner has been awarded with a Star on the Hollywood Walk of fame because of phenomenal success of Playboy magazine. Apart from this Hefner has produced several TV shows which includes his most famous TV series “The girl Next Door” which was on air for six seasons. His phenomenal success had turned him into a multi millionaire. His huge stake of wealth comes from being the majority stake holder of “Play boy enterprise” and his annual income is in the range of $4 million to $5 million. A few years back, Hefner had a net worth of over $200 million, but it came down to $43 million because of 80% breakdown in Playboy share value in a short span.
Renowned as the luckiest guy on the planet, Hugh Hefner the emperor of American adult magazine playboy is surrounded by several wives and live-in partners. Hefner first married in 1949 to Mildred Williams. The couple together has two children, daughter Christie and son David. when married to Williams, Hefner slept with several other women. Because of this their marriage could not last for long, and 10 years after getting married,in 1959 the couple got divorced.
Later Hefner had relationship with almost all of his playmates. Few of his many lovers like Lillian Muller, Shannon Tweed, Karen Christy, and Donna Michele also filled a legal suite against Hefner for $35 million.
Hefner decided to get married again, and this time with his Playmate of the year Kimberley Conrad. the couple got married in 1989 at a lavish ceremony held in Playboy mansion. The couple together has two son named Cooper Bradford and Marston Glenn. however the couple decided to part ways and got divorced in 1998. The following year Hefner got back to his normal life and several young women once again surrounded him. Post marriage Hefner even dated seven girls at once. The girls net door series was based on three out of his seven girlfriends. However they soon decided to leave the mansion. But this didn’t stop Hefner, within no time Hefner began dating his new girl Crystal Harris along with 20 year old twin sisters.
Hefner decided to get married once again in the year 2011 to his new play mate Crystal Harris, however crystal called off the wedding just five days before the scheduled wedding date. They reconciled and got married a year later in 2012. at the time of marriage Hefner was 86 years old and Harris was 26 years old. In 2012, Hefner announced that his son Cooper could be the next face of Playboy.
Playboy magazine founder and major stake holder Hugh Hefner has an estimated net worth of $43 million. Few years back his net worth was over $200 million but 80% stock rate of Play boy declined and so does Hefner’s wealth. Hefner earns his wealth from Playboy, and by producing TV series on his and his playmate’s life.
Hefner resides in the most Iconic and most loved Playboy Mansion located in the upmarket and celebrity favorite Beverley Hills, California. The mansion is famous all around the globe because of its lavish and exotic parties which is a frequent score by Playboy models. The mansion is worth $54 million. On contrary to popular assumption, Hugh Hefner does not own Playboy mansion. The mansion is owned by Playboy Enterprise and Hefner has to pay annual rent to cover his expenses and expenses of his lavish parties.
Hefner gets a monthly salary of $116,667 from Playboy. apart from this he gets $2000 from social security each month. He receive dividends and interests of over $130,000 each month on his saving bank balance and his shares. He receives monthly rent from his property which he has rented out for $17000. In total Hefner earns $290,580 every month. Apart from this Hefner has $306548 in cash deposit, $36,802,558 in stocks and bonds, and has a sum of over $6,122,990 in a joint account with an unknown person.
Hefner pays a monthly rent of $53593 for playboy mansion which includes all his expenses apart from his parties.
Hugh loves to drive around in luxury cars. His garage safes luxury cars like Cadillac, Porsche and BMW with combined worth of over $400,000.
Apart from spending his wealth on luxury, Hefner donates part of his wealth to a organisation which he started called “The Hugh Hefner Foundation” the foundation works towards the promotion of civil rights and citizen liberties.