Larry Flynt - Quick Facts
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Larry Claxton Flynt, Jr. is an American publisher and the president of Larry Flynt Publications (LFP). LFP mainly produces sexually graphic videos and magazines, most notably Hustler. Larry Flynt, born November 1, 1942 is the owner of Larry Flynt Publications, producing adult videos and magazines, most notably Hustler. Talking about his net wealth possession so far, Flynt has a net worth of $400 million where LFP has an annual profit of $300 million till the present time. In March 1972, Flynt created the Hustler Newsletter, a four-page, black-and-white publication about his clubs. This item became so popular with his customers that by May 1972, he expanded the Hustler Newsletter to 16 pages, then to 32 pages in August 1973.
Larry Flynt had begun his career as an entrepreneur in 1965 when he took a $1,800 from his savings and bought his mother's Dayton, OH bar, Keewee. He soon started making $1000 per week, and used the profits to buy two other bars. In 1968 he opened his first Hustler Club, featuring naked hostesses who danced. He then opened Hustler Clubs in other major Ohio cities, and each soon grossed between $260,000 and $520,000 per year. With the 1973 oil crisis Flynt had to decide on refinancing his clubs or declaring bankruptcy. Instead, he decided to turn Hustler Newsletter into an adult magazine, paying the start-up costs by deferring payment of sales taxes on his clubs. In July 1974, the first issue of Hustler was published. By August of 1975 the magazine was selling more than 1 million copies per month. In 1978, white supremacist Joseph Paul Franklin attempted to assassinate Larry Flynt over an interracial photo shoot in Hustler. Flynt is now paralyzed from the waist down and uses an $80,000 gold-plated wheelchair. In 2000, Flynt opened the Hustler Casino in Los Angeles, and Hustler Video film studio bought VCA Pictures in 2003. He is paralyzed from the waist down due to injuries sustained in a 1978 assassination attempt by Joseph Paul Franklin.