", 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. Though he married four times, he had only one son. At this point, the family survived on welfare payments with Hughes' mother suffering from "emotional problems." By total random coincidence, Suzan and Alex ran into that very same trustee later that night at an art exhibit. Her death was the result of an accidental overdose of prescription diet pills and alcohol which (spoiler alert) would be eerily similar to how Mark himself would die many years later. In 2019, Herbalife earned $4.8 billion in revenues. Not a good combination.
", During the hearing, Hughes acknowledged that his own formal education stopped at the 9th grade. Darcy LaPier became Mr. Hughes's fourth wife on Feb. 14, 1999.  According to the autopsy report, several empty vials of prescription drugs were found beside her bed, and her doctor told the coroner she "was known to over-ingest her prescription drugs. , In March 1985, the California attorney general and the state Department of Health Services charged him and Herbalife with making "untrue or misleading" product claims—primarily involving the caffeine content of some Herbalife products—and operating an "endless chain marketing scheme. 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. 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. In that time a lot had changed with both Herbalife and his real estate portfolio. As of this writing, Herbalife's annual revenues top $4 billion and the company has a market cap of $6 billion (despite Bill Ackman's best efforts). As of this writing, Alex Hughes is 27 years old. The first was an undeveloped plot of land in Malibu called Tower Grove. Tragically, it was at this house where Darcy found Mark dead in their bed on the morning of May 21, 2000. And revenues pretty much exploded from that point on. Darcy was reportedly given an estimated $50 million worth of real estate and money from the estate, despite the fact that she had been married to Mark for less than a year. He died in 2000 at the age of 44. This house sat on 7.5 acres and featured 300 feet of beachfront property. His mother's death had a huge impact on Mark future life. In 2004, the trustees of Alex Hughes' estate sold the property to a developer for no money down. And keep in mind, the property does not yet feature a house. 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. Using his mother's legacy as a genesis, Mark founded Herbalife in 1980 when he was just 24 years old. In the meantime, he would receive an estimated $250,000 stipend every year which would some day grow to $2 million per year. This sales model is known professionally as "multi-level-marketing", but it is also often referred to as a "pyramid scheme". In 2002, Herbalife was taken private by a group of investors for $685 million dollars.
Back in December 2012, Ackman shorted $1 billion dollars worth of Herbalife's stock. , Regulators contended that the company was making medicinal claims.  Part of Hughes' CEDU rehab required him to raise money by selling raffle tickets. The company's stated goal was to market healthy weight loss products and generally change the nutritional habits of the world. Not much is known about Mark's early life other than his family grew up in humble circumstances and that his mother, Jo Ann Hughes, died when he was 18. Perhaps we'll just end with a reminder to never mix alcohol and prescription drugs. Let's start from the beginning…. It was the most expensive real estate transaction in Southern California history up to that point. After Mark and Darcy were married, she refused to live at Tower Grove because it reminded her too much of Suzan, so Mark bought a new $25 million house in Malibu for them to live in.
Meanwhile, Suzan (the former Miss Petite USA) also claimed that one of the trustees sexually harassed her on a number of occasions. It gets worse.
Herbalife stock is trading at about $7.50 a share, meaning Mark Hughes’ holdings have lost about half their value since the company’s 20th anniversary one year ago.
Medicines are regulated by the F.D.A., while nutritional supplements are not. " At 16, he was sent to CEDU High School, a private residential school for troubled youngsters in Running Springs, CA whose origins were associated with Synanon, a group founded in 1958 and later described as a cult. Listed A Year Ago For $1 BILLION – "The Mountain Of Beverly Hills" Just Sold For $100,000. Pretty soon, thousands of sales people were selling Herbalife products door-to-door around the country. "The approval there was based on how much funds you raised," Hughes told People magazine in 1985. Ouch.
By 2000, his real estate portfolio alone was worth north of $100 million.
Hughes was born in La Mirada, California in 1956, the son of Jack Reynolds and Jo Ann Hughes.
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.
As if that wasn't bad enough, the trustees also reportedly turned down a higher offer from a much more qualified buyer. , In February 1980, aged 24, Hughes founded Los Angeles-based Herbalife International. During his life, he was married to four different beauty queens including a former Hawaiian Tropic model and a former Miss Petite USA.
The goal of the case was to get the trustees removed for mismanaging the estate. "There was a lot of pressure, and I wanted to be the best right away.
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. When Golden Youth also went out of business, Hughes decided to start his own operation. After the wives were paid off, Mark's estate was still worth an estimated $300 million at the time of his death. 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. But we're getting ahead of ourselves. On Feb. 2, three months before he died, Mr. Hughes amended his family trust to give his wife, Darcy, $10 million within 45 days of his death. , In the mid-1980s, Hughes was sued by the Food and Drug Administration, the California attorney general's office, and the state Department of Health, over what they said were false health claims about Herbalife products and the various schemes used to market them. Submit a correction suggestion and help us fix it!
The cause of death was a bad mixture of alcohol and anti-depressants. It was while working for Golden Youth in 1979 that Hughes met Kathryn Whiting, who was a former "Miss Santa Monica", and a 21-year old college student pursuing a degree in medical science. Mark had one child, with wife #3 Suzan Schroder (the former Miss Petite USA). Brexit Hands Billionaire Bill Ackman Big Losses. Why 58,000 square feet? According to court documents filed to get the trustees removed from the estate, the trustees responded to Suzan's request by saying: "You are one of the most beautiful, unattainable women in the world. 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. To settle his problems with the state, Hughes agreed to pay $850,000. In addition to selling the product, sales-people were encouraged to sign up their friends, family and neighbors to become sales-people themselves. In 2013, two rival billionaires ended up taking the opposite side of Ackman's billion dollar bet. She battled obesity and tension via amphetamines and sleeping pills. 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. , This article is about the businessman and founder of, "Despite Critics and Lawsuits, Herbalife Has Made Mark Hughes Wealthy If Not Healthy", "Safety, Methods Questioned : Herbalife: Weighty Profits and Government Probes", "The Cult That Spawned the Tough-Love Teen Industry", "Synanon -CEDU - Brown Schools Medical Whistleblower", "The History of Synanon and Charles Dederich", "Mark Hughes, Founder of Herbalife, Dies at 44", "Mark R. Hughes, 44; Founded Nutrition Supplement Concern", "Herbalife And Mark Hughes - A Success Story? 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. 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. It has since become one of the world's largest distributors of Herbalife products through multi-level marketing, with sales of about $3.5 billion in 2007 and 2.1 million Independent Distributors.
Not sure what the main lesson is with the story. On May 21, 2000, authorities said that Mark Hughes died of an accidental overdose after mixing alcohol with a "toxic level" of antidepressants.
" Toxicological tests showed potentially lethal levels of the painkiller Darvon in her system.. 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. Suzan once asked the trustees for $160,000 to rent a beach house in Malibu. He was just 44 years old and had been suffering for several months from insomnia and a recurring case of pneumonia.
According to a court-ordered audit, in 2005, the value of 13 year old Alex Hughes' trust fund had grown to $400 million.
Hughes' blood-alcohol level was recorded at .21 percent. One of the trustees of Alex's fortune allegedly sold The Vineyard for just $23 million to a man who had no money and no experience in developing real estate.
The prime example of their mismanagement was related to The Vineyard.
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