Billionaire Club USA

What Happens To The Playboy Mansion After The Death of Hugh Hefner?

Hugh Hefner, the founder of Playboy magazine, lived in the Playboy Mansion until he died last September 27, 2017 at the age of 91.

The popular 20,000 square foot mansion where Hefner inhabited for more than 40 years will be under a new ownership soon. The Playboy Mansion was sold for $100 million in 2016 which was truly expensive. It was also listed as the most expensive for-sale house in USA in the same year.

The Playboy Mansion was located near Los Angeles Country Club in Holmby Hills which was between Westwood and Beverly Hills. It has a four-bedroom guesthouse and a main mansion which consisted of 29 rooms. The design of the mansion was Gothic Tudor and Hefner’s empire lived there for over a half-century.

The prestigious house was sold to the neighbor next-door named Daren Metropoulos. He was a former co-CEO of Pabst Brewing Company and the current principal of the private-equity firm Metropoulos & Co.

Based on technicalities, the Playboy Mansion was never owned by Hefner because the Playboy Enterprises bought the mansion for about $1 million 45 years ago. It was leased to Hefner and according to some reports, he paid only $100 a year to live in the mansion under an agreement with the Playboy Enterprises.

However, Hefner have life rights to the house. As a stipulation to the sale, he could live in the mansion forever and as long as he wanted but he would pay $1 million a year.

Metropoulos said that he wanted to combine the Playboy Mansion and his property, which he bought for $18 million in 2009.

“I feel fortunate and privileged to now own a one-of-a-kind piece of history and art. I look forward to eventually rejoining the two estates and enjoying this beautiful property as my private residence for years to come.” Metropoulos said in a press release.