Playboy’s Hugh Hefner donates $900,000 to save the iconic Hollywood sign
April 27th, 2010 - 8:35 pm ICT by Aishwarya Bhatt
Hollywood, Apr 27 (THAINDIAN NEWS) Playboy’s Hugh Hefner came to the rescue of the iconic Hollywood sign. He donated a whooping $900,000, which was needed to keep the sign and the land on which it is based, intact. It may be recalled that a group of Chicago investors had purchased the Cahuenga Peak from Howard Hughes estate in 2002. They had planned to build luxury homes there. However since then the city officials and residents have been worried that if this happens, then the iconic letters would be scarred forever. So a nonprofit group- ‘Public Trust for Lands’ made a plan to purchase the neighboring Cahuenga Peak for around $12.5 million. They had raised almost the full amount, but they were short of around $900,000. So Hugh Hefner stepped in as Santa Claus and did the needful.
“It would have been a real shame after having restored it if it wound up sold. It’s become something iconic and represents not only the town but represents Hollywood dreams, and I think that’s something worth preserving. I was aware of the fact that they were raising the money, but I only learned about a week ago that they were running out of time. They only had about a week and a half left to go, ” Hugh Hefner said to the PEOPLE magazine.
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Tags: 5 million, cahuenga peak, city officials, hollywood, hollywood dreams, hollywood sign, howard hughes, hugh hefner, hughes estate, investors, luxury homes, money, needful, nonprofit group, people magazine, playboy, public trust, running out of time, santa claus, shame
