Is Hugh Hefner going broke? Playboy
Hugh Hefner has a net worth at $43 million this year. He recently filed for divorce from his wife whom he has not lived with in over a decade.
[His net worth has taken a pretty heavy hit as Playboy’s stock has lost over 80% of its value.]
Interestingly, most people assume Hugh himself actually owns the famous Playboy mansion, but in fact he does not. Playboy owns the house and Hugh pays an annual rent to cover his expenses (including his girlfriend’s). Here is how he breaks down his own finances in a recent court filing:
– 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
– $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
[I think his cash is way too low and he still has too much vested in stocks]
And here’s how Hugh spends his millions per month:
– 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
What happens if everything about Playboy goes belly up? Diverge your money Heff and convert some of that personal money out of Playboy if it has already lost 80% of its value. Not a good sign!
The internet has not been kind to Playboy as far as naked women are concerned. People don't need to pay to see naked women anymore, especially random women. While the "Girls of the Big Ten" issue might still be a big seller, it won't save Playboy.
Playboy needs to go the route of Victoria's Secret. Just send it to people who sign up for it and make money off of advertising.
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