Greek-American businessman Daren Metropoulos has purchased the Playboy mansion. According to the Wall Street Journal (WSJ) his contract allows him to take full tenancy of the property only after the death of its current resident, Hugh Hefner who is 90-years-old and has lived there since he purchased the mansion in 1971.
Daren Metropoulos, a billionaire heir, is the son of Greek immigrant and billionaire businessman C. Dean Metropoulos. He is a principal at the private-equity firm Metropoulos & Co, a firm primarily known for turning around sinking companies particularly in the food industry. One of Metropoulos & Co’s most notable accomplishments was bringing back Twinkies snack company which they jointly own with Apollo Global Management.
In 2009 Daren Metropoulos bought the adjacent property to the Playboy mansion and has said that he plans to join the two properties together.
“The heritage of this property transcends its celebrity, and to have the opportunity to serve as its steward would be a true privilege,” Metropolis told the WSJ.
The Los Angeles mansion is said to have sold in the nine digits and sets a record for the highest priced residential sale in the city according to the WSJ who quoted Jeffrey Hyland, the president of luxury real estate firm Hilton & Hyland.