Howard Hughes was well-known business magnate from America. He was also a philanthropist film director, record-setting pilot, and investor. In the late 1920s, Hughes got prominence in Hollywood and went on to be known as a film producer. In 1932, he founded the Hughes Aircraft Company. His legacy is maintained today by Howard Hughes Corporation and Howard Hughes Medical Institute. Now let’s have a close look on Howard Hughes’s net worth.
Howard Hughes Early Life
Howard Robard Hughes Jr. was born on September 24, 1905, in Humble, Texas to his parents Allene Stone Gano and Howard R. Hughes Sr.
At the age of 14, he took his first flying lesson and went to Massachusetts’s Fessenden School. Hughes has also attended Caltech. After completing his schooling, he attended the University of St. Thomas.
In 1925, Howard Hughes got married to Ella Botts Rice. He filed for divorce in 1929. He dated many popular names like Katharine Hepburn, Gene Tierney, Janet Leigh, Ava Gardner, Billie Dove, and Rita Hayworth. From 1957 to 1971, he was married to Jean Peters.
Hughes died of kidney failure on April 5, 1976. He was 70 at the time of his death. He was buried in Houston’s Glenwood Cemetery.
Howard Hughes Career, Awards & Achievement
After moving to Los Angeles recruited Noah Dietrich for his tool company. He then made two financially successful movies ‘Two Arabian Nights’ and ‘Everybody’s Acting’. In 1928, he produced the film ‘The Racket’. In 1930, he produced ‘Hell’s Angels’.
In 1932, Hughes became the founder of Hughes Aircraft Company. Following that, he created a record of 352.46 M.P.H in September 1935 as the fastest plane in the world. Two years later, he made the longest speed flight in the world.
He made another record in 1938 by flying across the world in three days and 19 hours. A year later, he bought stocks worth $7 million of TWA. He then went on to create Hughes XF-11 for the United States Air Force.
Hughes created the Hughes H-4 Hercules which was popularly known as Spruce Goose. However, the project was later aborted. After gaining the control of RKO Pictures, he sold the company in 1955 for $25 million to General Tire and Rubber Company.
Howard Hughes found immense success in his business career. In 1972, he sold a division of his company. He also found success in real estate. In 1953, he launched Howard Hughes Medical Institute.
Awards & Achievements
In 1936 and 1938, Howard Hughes was conferred with the Harmon Trophy. He won the Collier Trophy in 1938. He is also the winner of the Congressional Gold Medal in 1939. In 1973, he was inducted into the National Aviation Hall of Fame. In 1940, he was bestowed with the Octave Chanute Award. He was also inducted into the Nevada Business Hall Of Fame posthumously.
Net Worth of Howard Hughes
Howard Hughes had an estimated net worth of more than $1.5 billion. The same amount would have been equivalent to $6.31 billion today. This fortune came from his career by venturing into several businesses. His estate was called “Mormon Will” and was given to many charitable organizations. He also gave $156 million to William Lummis and another $156 million equally to his two wives. Another $156 million was received by Melvin Dummar. His estate worth $2.2 billion was distributed among his 22 cousins.
Howard Hughes is considered one of the most popular businessmen in the world. He found considerable success by venturing into several businesses. His estate was given to several charitable organizations and his legacy still continues by his act of philanthropy. Many individuals received his estate.