Hugh Hefner Files for Divorce
Playboy magazine founder Hugh Hefner recently filed for divorce from his estranged wife, former Playmate Kimberley Conrad, 47, citing irreconcilable differences. The couple was married in 1989, but have been separated since 1998. Hefner’s divorce action follows a $5 million lawsuit filed by Conrad against the Playboy founder over the sale of a house next door to the Playboy Mansion they once owned together.
Conrad and Hefner have two sons together who have been living with their mother since 1998. Conrad and Hefner did have a prenuptial agreement in place, but since there was never a divorce, Conrad and her two sons lived together in the house after the split. Conrad filed suit immediately following Hefner’s decision to put the house in question up for sale.
Hugh Hefner’s publishing empire began when he founded Playboy magazine in 1953. The magazine magnate’s assets are currently reported to be more than $43 million, and it is estimated he spends nearly $43,000 a month on food and entertainment alone. Hefner has volunteered spousal support payments to Conrad of $20,000 a month, claiming he has already given her $12 million since they separated over a decade ago.
Profits from Hefner’s Playboy Enterprises Inc. have withered in recent years due to heavy competition from the Internet and a sharp decline in advertising. Today, the 83-year-old Hefner is still editor-in-chief of Playboy magazine.