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<em>Penthouse</em> Founder Bob Guccione Dead At 79
By
Jen Carlson
Published Oct 21, 2010
Modified Oct 21, 2010
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By
Jen Carlson
Published Oct 21, 2010
Modified Oct 21, 2010
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Bob Guccione, founder of Penthouse magazine and one-time owner of "one of the biggest private houses in Manhattan," died yesterday at the age of 79 from throat cancer, which he had been battling for years—the NY Times notes that he "did not drink, smoke or use drugs." Guccione was born in Brooklyn, but was living in Texas at the time of his death.
Once named one of the wealthiest people by Forbes (with a net worth of $400MM in 1982), he eventually lost his fortune; one of his major financial losses was in 1979—just 10 years after bringing Penthouse to the States—when he invested $17.5 million in the X-rated film Caligula. Over a decade later Internet pornography grew increasingly competitive, causing more financial strain for Guccione's empire.
Along with his fortune he lost his Manhattan mansion (located at 14-16 East 67th Street), which NY Mag said he had been living in like a "near-recluse." He moved out in 2006, three years after his company General Media filed for bankruptcy and he resigned as chairman of Penthouse, and 26 years after he bought a $1MM+ Picasso at Sotheby's because he "was in the mood to buy something."
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Jen Carlson
Jen Carlson is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
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