About Larry Flynt
One of the richest CEOs in the world is known to be Larry Flynt. It has been reported that the estimate of Larry Flynt net worth reaches 400 million dollars. Born in 1942, Larry Flynt is known as an owner of Larry Flynt Publications to many people. Also, it is known to be one of the most important sources of Larry Flynt net worth. The company is known for producing a lot of videos and books aimed at adult audiences, such as probably one of the most popular productions of the company, Hustler. Also, the company Larry Flynt Publications is known to receive an annual profit of 300 million dollars.
In 1965, Larry Flynt started his career as an investor, when he bought his mother’s bar for 1.800 dollars, which he had in savings. The bar started to function very well, with making 1 thousand dollars per week. Larry Flynt realized that it might be the start of his career as a businessman and bought several more bars using the money got from his mother’s bar. Therefore, his owning bars started to add bigger sums of money to Larry Flynt net worth.
In 1968, Larry Flynt established the first Hustler Club.
The club was known for naked staff working in it who was also dancing. Soon, he opened several more clubs in different cities in Ohio. The clubs started to make from 260 thousand to 520 thousand dollars annually. In 1972, the businessman developed the first newsletter, which was intended to promote his Hustler clubs. The first newsletter consisted of four pages and by the end of the year, it was made of sixteen pages.
In 1973, when the oil crisis happened, Larry Flynt was forced to decide whether he was going to file for bankruptcy or refinance his clubs. Therefore, Larry Flynt decided to expand Hustler Newsletter in making it a magazine aimed at adult audiences. Thus, in 1974 the first version of the magazine was published. In the end of summer of 1975, it was claimed that around 1 million copies of the magazine were sold in one month. The magazine started to bring millions of dollars to Larry Flynt net worth.
Currently, the businessman is known to be paralyzed from waist down and he uses a wheel chair in order to appear in the public. The wheel chair is made of gold worth 80 thousand dollars.