“Life’s too short to be living somebody else’s dream” quoted Hugh Hefner, 91, founder of Playboy Enterprises, passed away at his Chicago residence on Thursday. He died of natural causes and was surrounded by his loved ones at the time of his death. Hefner was worth $50 million at the time of his death.
American Icon and Playboy Founder, Hugh M. Hefner passed away today. He was 91. https://twitter.com/hashtag/RIPHef?src=hash&ref_src=twsrc%5Etfw">#RIPHef https://t.co/tCLa2iNXa4">pic.twitter.com/tCLa2iNXa4
— Playboy (@Playboy) https://twitter.com/Playboy/status/913240335358111744?ref_src=twsrc%5Etfw">September 28, 2017
Good old days
He started the magazine in 1953 by taking a loan of $600 against his furniture and investments from family members with a total of $8000. The magazine instantly picked up and became a hot topic among news headlines when the magazine published the nude picture of Marilyn Monroe. And then there was no looking back and the magazine went on to become a multimillion-dollar entertainment empire. Rabbit silhouette became one of the best-known logos in the world which was introduced by the Playboy magazine.
In the 1960s, Playboy entertainment enterprise created a fan base by selling nearly one million magazines in a month and by 1970s, the magazine earned $12 million profit. During this period, Hefner’s net worth was to be near $200 million.
In 1985, Hefner was left temporarily partially paralyzed after suffering a stroke where he was not able to speak as well. After recovering, he stepped down from as the CEO and handed over the business operations to his daughter Christie.
In the last 15 years, the magazine witnessed a steep downfall and in 2016, one of Hefner’s neighbours Daren Metropoulos, son of a billionaire C. Dean Metropoulos, bought the playboy mansion for $100 million but he let Hefner stay in the mansion where he breathed his last.
(Inputs from DNA and Agencies)
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