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His company, his world-class art collection, his huge Manhattan mansion — all of it, sold off.
Guccione's family said in a statement that he died at Plano Specialty Hospital in Plano.
Williams, who went on to fame as a singer and actress, was forced to relinquish her crown after the release of the issue, which sold nearly 6 million copies and reportedly made million.
But Guccione's empire fell apart thanks to several bad investments and changes in the pornography industry, which became flooded with competition as it migrated from print to video and the Internet.
Bob Guccione tried the seminary and spent years trying to make it as an artist before he found the niche that Hugh Hefner left for him in the late 1960s. Even more sensational letters that began, "Dear Penthouse, I never thought I'd be writing you..." It worked for decades for Guccione, who died yesterday in Texas at the age of 79.
Where Hefner's Playboy magazine strove to surround its pinups with an upscale image, Guccione aimed for something a little more direct with Penthouse. He estimated that Penthouse earned billion during his reign as publisher.
Twenty-eight years after quitting as executive editor of magazine.
“Whenever I’m facing a crisis—and I’m certainly facing a crisis now—I just fight harder.
The reason he sleeps during the day, he says, is that he is up until four in the morning working on projects and his oil paintings.It’s about the people you encounter and the sites you see, the alien worlds you go to and the exotic experiences you encounter.Guccione: “10 Travel questions with…” [This will be] a generally fascinating person who may or may not be universally known.in 1965 to subsidize his painting, Bob Guccione turned graphic porn, muckraking journalism, and tabloid headlines into one of the greatest success stories in magazine history, the cornerstone of a multi-million-dollar publishing empire.Then it all came tumbling down, thanks to Reagan-era censorship, the Internet, and a series of expensive dreams.
He was listed in the Forbes 400 ranking of wealthiest people with a net worth of about $400 million in 1982.