How Hugh Hefner turned Playboy from a pipe dream at his kitchen table to an iconic brand reportedly worth $500 million

Playboy Editor-in-Chief and Chief Creative Officer Hugh Hefner

Playboy founder Hugh Hefner died Wednesday at the age of 91.

In 2016, it was estimated that the playboy and mogul's lifestyle magazine and its "bunny-branded licensing assets" could sell for up to $500 million, according to USA Today. At the time of his death, Hefner owned 100% of the magazine and 35% of the overall brand, according to Business Insider.

Wealth-X, a market research firm, estimates Hefner's net worth was at least $110 million at the time of his death, with $45 million in liquid assets.

So how did Hefner build his iconic and controversial media empire? It all started with $8,000 and some naked photos of Marilyn Monroe.

Here's a look at the Playboy mogul's career:

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During World War II, the Chicago native served as an infantry clerk. He spent the war drawing cartoons for several military newspapers.

Source: NJ.com, Forces.net



According to NJ.com, his artistic skills — or lack thereof — earned him a rebuke from colleague and future Popeye cartoonist Hy Eisman, who told him that "he'd better have a job waiting for him after the war."

Source: NJ.com, Forces.net



Instead, Hefner went back to school. He graduated from the University of Illinois at Urbana Champaign in 1949 and headed to Northwestern University to earn a graduate degree in sociology. He wrote a paper on laws pertaining to sex in the US, but left after a semester.

Source: HMH Foundation



See the rest of the story at Business Insider

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