Mark set out to sell his very first product, a protein shake, from the trunk of his car. Unfortunately for Alex, he wouldn't be able to touch the money until he turned 35, in the year 2027. His mother had always been concerned about her weight which is why she had been suckered into taking the dangerous diet pills that helped caused her death. Scott Carrier, of the Los Angeles County Coroner's Office, said final autopsy results found that Hughes, 44, had ingested a toxic combination of alcohol and Doxepin, an antidepressant he was taking to help him sleep. He died in 2000 at the age of 44. The trustees LENT money to a man named Charles Dickens, who had absolutely no experience in real estate development, so he could buy the property from them with their money for $23.75 million. Orders New Trustees of Herbalife Founder's Fortune", https://en.wikipedia.org/w/index.php?title=Mark_R._Hughes&oldid=981939974, Burials at Westwood Village Memorial Park Cemetery, All Wikipedia articles written in American English, Creative Commons Attribution-ShareAlike License, This page was last edited on 5 October 2020, at 08:26. The death last month of Mark Hughes, the 44-year-old Herbalife International founder and chief executive, was an accident, according to a coroner's report.  In the ninth grade Hughes dropped out of school and began using drugs himself. TimesMachine is an exclusive benefit for home delivery and digital subscribers. At the time, the California attorney general, John Van De Kamp, was quoted in The Wall Street Journal as saying it was the "largest settlement ever attained from a health products company. She became the first wife of Hughes. Hughes laid plans to build a 46,000 square foot house on the property, complete with tennis courts, a million-gallon pond and wildlife sanctuary. It was certainly a wild ride while it lasted.  Part of Hughes' CEDU rehab required him to raise money by selling raffle tickets. This would allow Alex to manage the money himself and potentially inherit a much larger portion much sooner than the age of 35. It took more than a decade since Mark's untimely death to resolve these legal battles. When the company went public on the NASDAQ in 1996, Mark's 26% stake was worth $250 million. Mark had one child, with wife #3 Suzan Schroder (the former Miss Petite USA). Herbalife's multi-level-marketing plan was outrageously successful. In 2019, Herbalife earned $4.8 billion in revenues. The unqualified purchaser eventually defaulted on his payments. The company then became publicly traded again in 2004 on the New York Stock Exchange, where it trades today under the ticker symbol HLF. Suzan once asked the trustees for $160,000 to rent a beach house in Malibu. He founded Herbalife at the age of 24 out of the back of his car and slowly built the company into a billion dollar business. In all, Hughes married 4 times, all of them being beauty pageant winners, and all of his weddings were done on a beach. In 2013, two rival billionaires ended up taking the opposite side of Ackman's billion dollar bet. Let's start from the beginning…. Herbalife obviously disagrees, and has gone to great lengths to defend its honor in public statements and media interviews. Mr. Hughes, 44, who promoted natural healing methods using Herbalife's health care and weight-loss products, was being treated by a psychiatrist for his drinking problem and smoked six to eight cigars a day, according to the coroner's report. He forced the property into foreclosure to kick out Dickens and the other shady characters who by then had run up $200 million worth of debt with the trust. Meanwhile, Suzan (the former Miss Petite USA) also claimed that one of the trustees sexually harassed her on a number of occasions. Mark Reynolds Hughes (January 1, 1956 – May 21, 2000) was an American businessman who was the founder, chairman, and CEO of Herbalife International Ltd, a multi-level marketing company. At midnight, she went to sleep after he ''resisted her efforts'' to wake him. To settle his problems with the state, Hughes agreed to pay $850,000. The judge ruled in favor of Alex and removed the trustees from the estate forever. Mark's real estate portfolio had two crown jewels. He owned a $25 million beach front mansion in Malibu. Hughes's will stipulated that, until Alex turns 35, the bulk of his inheritance would be held in a trust managed by Jack Reynolds (Alex's paternal grandfather), attorney Conrad Klein, and Herbalife executive Christopher Pair. Pretty soon, thousands of sales people were selling Herbalife products door-to-door around the country. The whole Ackman saga is fascinating enough to deserve its own dedicated article on Celebrity Net Worth, but for now we're gonna take a look at a different, equally insane story from the Herbalife chronology. His blood-alcohol level was measured at 0.21. Not a good combination. Subsequently, Bill Ackman lost $400-$500 million on his bet. On May 21, 2000, authorities said that Mark Hughes died of an accidental overdose after mixing alcohol with a "toxic level" of antidepressants. Here's my phone number. His mother's death had a huge impact on Mark future life. The cause of death was a bad mixture of alcohol and anti-depressants. By 2000, his real estate portfolio alone was worth north of $100 million. Mark Reynolds Hughes was born on January 1st, 1956 in La Mirada, California. He planned on building a 45,000 square foot palace at Tower Grove, complete with 25 bedrooms and stunningly beautiful 360-degree views of the world. The chief executive of Herbalife International Inc., Mark Hughes, died after a four-day drinking binge, according to a full report by the Los Angeles coroner. Over the years, various people have described Tower Grove as one of, if not THE, most beautiful and desirable pieces of real estate in Los Angeles. After all opinions and arguments were heard, on March 18, 2013, the judge finally came to a decision. As of this writing, Alex Hughes is 27 years old. Mark's son Alex Hughes was born in 1992 and he will become very important to this story in a minute. The death last month of Mark Hughes, the 44-year-old Herbalife International founder and chief executive, was an accident, according to a coroner's report. And keep in mind, the property does not yet feature a house. Using his mother's legacy as a genesis, Mark founded Herbalife in 1980 when he was just 24 years old. , Regulators contended that the company was making medicinal claims. In that time a lot had changed with both Herbalife and his real estate portfolio. He soon developed a direct-marketing plan that incentivized local sales people to sell the products to their friends, family and neighbors. Listed A Year Ago For $1 BILLION – "The Mountain Of Beverly Hills" Just Sold For $100,000. ", Hughes was 19 years old and still working for CEDU when his mother died in her apartment of an accidental drug overdose on April 27, 1975. And speaking of impressing Donald Trump, during his lifetime Mark married four different beauty queens.