Monday, October 27, 2008

Hugh Hefner

Wait! Don't stop reading! Whether or not the company Hugh Hefner founded, Playboy Enterprises Incorporated, has enriched your life personally, Hefner truly fits the definition of a Hero of Capitalism. He used private property to produce wealth.

Born in 1926, Hefner graduated from the University of Chicago at Urbana-Champagne after serving in World War II. He started his career in publishing as a copy editor at Esquire Magazine. Hefner started "Playboy" magazine, the most popular of Playboy Enterprises subsidiaries, in 1953 with the centerfold Marlyn Monroe kicking off the now very successful magazine. According to Wikipedia, one of his first investors was his mother. Though she did not approve of his overall vision, she believed in him. The company website states, "As of December 31, 2007, there were a total of 33.3 million shares of [Playboy Enterprises Inc] outstanding, which resulted in a market capitalization of approximately $305 million."

Today we honor Hugh Hefner for founding and ongoing contributions to Playboy Enterprises Inc. This ability to see a market opportunity has created wealth through private ownership.

Hugh Hefner on Wiki
Playboy Enterprises on Wiki
Playboy Enterprises Corporate Website

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