Net Worth Ranker
What Was Hugh Hefner’s Net Worth?
At the time of his death in September 2017, American entrepreneur Hugh Hefner had a net worth of $50 million. This figure represents the culmination of a career spanning several decades in the publishing and entertainment industries.
Hugh Hefner’s Wealth History and Playboy Enterprises
Hugh Hefner’s financial journey experienced significant fluctuations throughout his career. While his net worth at the time of his death was $50 million, it’s important to note that in the mid-1990s, his worth was estimated to be around $200 million. This demonstrates the impact of various economic factors and shifts within the media landscape on his overall wealth.
The peak of Playboy Enterprises’ success occurred in the late 1960s and early 1970s. During this period, the business generated tens of millions of dollars in profit, thanks to a thriving empire that included clubs and casinos. This era represented the height of the Playboy brand’s cultural influence and commercial success.
However, the company faced challenges in adapting to the digital world and the decline of physical magazines. This led to a decline in Playboy’s financial performance in the later years of Hefner’s life. Between 2000 and 2010, Playboy’s stock price experienced a significant drop of 80%. In 2011, the company was taken private by Hefner and private equity firm Icon Acquisition Holdings. Later, another private equity firm, Rizvi Traverse, acquired Icon’s stake.
At the time of his death, Hefner owned 35% of the Playboy brand and 100% of what remained of the print magazine. In August 2018, his estate sold the 35% stake in Playboy for $35 million.
Contrary to popular belief, Hugh Hefner did not personally own the Playboy Mansion. Instead, the mansion was owned by Playboy Enterprises, and Hefner paid an annual fee to cover rent and other expenses, including food and parties. This annual rent amounted to approximately $1 million.
The Playboy Mansion was sold in June 2016 to Daren Metropoulos for $100 million. The original listing price for the mansion was $200 million. One of the conditions of the sale was that Hefner would be allowed to reside in the mansion for the remainder of his life.
Inheritance and Estate Details
Hugh Hefner was married three times throughout his life. His first marriage, which ended in 1959, produced two children: a daughter named Christie and a son named David. His second marriage, to Playmate Kimberley Conrad, lasted from 1989 to 2010 and resulted in two sons: Cooper and Marston Hefner. At the time of his death, Hefner was married to Crystal Harris since 2012. They did not have any children together.
Details regarding the exact distribution of Hefner’s estate remain private. However, it is likely that each of his children received a portion of his wealth, along with an equal share of what remained of Playboy. It was also reported that Hefner earmarked $3 million in his will for former girlfriend Holly Madison, although this information has not been officially confirmed.
Hefner’s estate benefited his widow, Crystal, as well as his four children: Christie Hefner, David, Marston, and Cooper Hefner. His trust included a clause that stipulated that any heir who became dependent on illegal drugs to the point of being unable to manage their own lives would have their access to the Hefner trust fund suspended.
Early Life and Career Beginnings
Hugh Marston Hefner was born on April 9, 1926, in Chicago, Illinois. His parents, Glenn Lucius Hefner and Grace Caroline Hefner, were from Nebraska and worked as an accountant and a teacher, respectively. Hugh had one younger sibling, Keith.
Hefner attended Sayre Elementary School and Steinmetz High School. From 1944 to 1946, he served as a U.S. Army writer for a military newspaper. In 1949, he graduated from the University of Illinois at Champaign-Urbana with a Bachelor of Arts in Psychology and a double minor in Creative Writing and Art. He completed his degree in just two and a half years. He pursued graduate studies in Sociology at Northwestern University for one semester before dropping out.
The Launch of “Playboy” Magazine
In 1952, Hefner was employed as a copywriter for “Esquire” magazine. After being denied a $5 raise, he resigned from his position. The following year, he secured a mortgage loan of $600 and raised $8,000 from investors, including $1,000 from his mother, to launch his own magazine, “Playboy.” Initially, he had planned to call the magazine “Stag Party.”
The first issue of “Playboy” was published in December 1953. It featured nude photos of Marilyn Monroe that were taken several years earlier, without her permission. The issue sold over 50,000 copies at 50 cents apiece. The magazine was produced in Hefner’s Hyde Park kitchen.
Hefner served as the chief creative officer of Playboy Enterprises, the publishing group that operated the magazine. He promoted a lifestyle of luxury in his magazine and in the television shows he hosted, including “Playboy’s Penthouse” (1959-1960) and “Playboy After Dark” (1969-1970).
In June 1963, Hefner was arrested for promoting obscene materials after publishing an issue of “Playboy” that featured nude photos of Jayne Mansfield in bed with a man. The case went to trial, but the jury was unable to reach a verdict.
During the civil rights movement, Hefner created racially diverse “private key” clubs. In 1966, he sent Alex Haley, an African American man, to interview George Lincoln Rockwell, the founder of the American Nazi Party. Rockwell had agreed to the interview only after being assured that Haley was not Jewish. The interview was reenacted in the television series “Roots: The Next Generations” in 1979.
“Playboy” magazine also published short stories by renowned novelists such as Arthur C. Clarke, Ian Fleming, Chuck Palahniuk, Roald Dahl, Margaret Atwood, and Shel Silverstein. Ray Bradbury’s novel “Fahrenheit 451” was serialized in the magazine in 1954.
The Playboy Mansion
Hugh Hefner resided in the 21,000-square-foot Playboy Mansion in Los Angeles, California, from 1974 until his death in 2017. The mansion became known for the lavish parties hosted by Hefner, which were attended by celebrities and socialites.
The mansion featured 29 rooms, a wine cellar, a movie theater, three zoos, tennis and basketball courts, a waterfall, and multiple pools. As previously mentioned, the mansion was owned by Playboy Enterprises, and Hefner paid an annual rent of approximately $1 million to cover expenses.
In January 2016, Playboy Enterprises put the mansion up for sale for $200 million. It was eventually sold for $100 million to Daren Metropoulos, the son of billionaire businessman C. Dean Metropoulos. As of April 2020, the Playboy Mansion was undergoing extensive renovations.
In 2022, the “Secrets of Playboy” docuseries premiered on A&E, featuring allegations of systematic sexual misconduct, manipulation, blackmail, videotaping without consent, rape, and illegal sex with minors by Hefner and his associates.
Personal Life and Relationships
Hefner married his high school sweetheart, Mildred Williams, in 1949. They divorced in 1959 and had two children together: Christie and David. After the divorce, Hefner adopted a “man about town” persona, aligning with the lifestyle promoted in “Playboy.”
After experiencing a minor stroke in 1985, Hefner toned down his lifestyle and married Kimberley Conrad, who was 36 years his junior. They had two sons, Marston and Cooper Hefner, and officially divorced in 2010 after being separated for over a decade. He married Crystal Harris in 2012, and they remained together until his death.
In July 2023, it was revealed that Hefner’s widow, Crystal Harris, would be publishing a memoir titled “Only Say Good Things,” in which she would share details about the “toxic” reality of the Playboy Mansion.
Appearances in Media
Hugh Hefner made several guest appearances in television shows and films, often portraying himself. He voiced himself in a 1993 episode of “The Simpsons” titled “Krusty Gets Kancelled.” He also appeared in episodes of “Sex and the City” (2000), “Entourage” (2005), “Curb Your Enthusiasm” (2005), “Robot Chicken,” “Family Guy,” and “Miss March.”
From 2005 to 2010, Hefner created and appeared in the reality show “The Girls Next Door,” which chronicled his life and the lives of his girlfriends who resided with him at the Playboy Mansion.
2009 Net Worth Estimate and Financial Details
According to court filings from 2009 related to a divorce, Hugh Hefner estimated his net worth to be $43 million. This was a significant decrease from his peak net worth of over $200 million during the height of “Playboy’s” success.
Here’s a breakdown of Hefner’s finances as of 2009, based on the court filings:
- Monthly Income:
- Salary from Playboy: $116,667
- Social Security: $1,896
- Dividends and interest: $121,099
- Rental property: $17,058
- Income from HMH Productions: $15,808
- Pensions and retirement: $413
- Other miscellaneous income: $17,639
- Total monthly income: $290,580
- Other Assets:
- $306,548 in cash
- $36,802,558 in stocks and bonds
- $6,122,990 in a joint account with an unnamed person
- Total assets (including Playboy stock and property): $43,232,096
- Monthly Expenses:
- Rent (including groceries, household supplies, utilities, cell phone, and email): $53,593
- Food (approximate): $18,000
- Entertainment: $25,000
- College expenses for kids: $10,130
- Health care: $3,215
Death and Burial
Hugh Hefner passed away on September 27, 2017, at the Playboy Mansion in Holmby Hills, Los Angeles, at the age of 91. The cause of death was sepsis, resulting from an E. coli infection.
Hefner is entombed in a crypt at the Westwood Village Memorial Park Cemetery, located next to the crypt of Marilyn Monroe. In 1992, he paid $75,000 for the right to be buried next to Monroe, stating that it was an “opportunity too sweet to pass up.” It is worth noting that Hefner and Monroe never met in person.
