They are not leaning toward foul play at all.. It was certainly a wild ride while it lasted. As of this writing, Alex Hughes is 27 years old. The lawsuit claims that the San Juan Capistrano entrepreneur and his Orange-based Global Health Sciences Inc. are the target of a carefully plotted and long-planned vendetta by Christopher Pair, Herbalifes chief executive and one of three co-trustees of the Mark Hughes Family Trust, which now controls nearly 60% of the companys shares. We are being vilified because we wont give them all of our business, Sandler said. Hughes died after a 4-day drinking binge, apparently from an overdose of alcohol and the antidepressant drug doxepin. Distributors are responsible for providing receipts for sales and proving they have legitimate customers. At the time, authorities said they would do an autopsy [2] In the ninth grade Hughes dropped out of school and began using drugs himself. Mark R. Hughes Herbalife Nutrition/Founders 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. Herbalife said Tuesday that Pairs record has since been expunged. Before that, Hughes lived in a Beverly Hills mansion known as Grayhall, which he purchased in 1992 in a real estate trade valued at $20 million. Each of the three associates would spend one week with Hughes to make sure he finished the program. And revenues pretty much exploded from that point on. "I got in trouble with the law. He was being treated by a psychiatrist for a drinking problem. [101][102], In November 2017, Ackman closed out his short position after Herbalife shares increased by 51 percent over the year, and replaced it with a less aggressive put option. Scott Carrier, of the Los Angeles County Coroner's Office, said final autopsy results found that Hughes, 44, had high levels of both alcohol and an antidepressant in his blood. [23]:15[24] In April 2003, Michael O. Johnson joined Herbalife as CEO following a 17-year career with The Walt Disney Company. According to the lawsuit, Hughes apparently relented to a passionate appeal by Pair, who met Hughes during his reform school days at the Cedu School in Running Springs, Calif. Herbalife has variously described Pair as a former advisor and intern at the institution. Herbalife's multi-level-marketing plan was outrageously successful. See the article in its original context from. 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. Why 58,000 square feet? [134] During the 2020 Summer Olympics, Herbalife Nutrition was a sponsor of the Olympic Committee of Israel and the Indian Olympic Association. Listed A Year Ago For $1 BILLION "The Mountain Of Beverly Hills" Just Sold For $100,000. Hughes liked the sales business and soon jumped to Best Line Products, a similar firm that quickly went out of business. Mark Hughes was an extraordinarily unique person who lived an extraordinarily unique life. [125] In response, Herbalife committed $40 million to resolve the issues, and began negotiations with both the US Justice Department and SEC. [108] The FTC stated that the wording it used in its response to the FOIA request was incorrect; the FTC could not confirm or deny an investigation into Herbalife. $1 billion. That's Not A Typo. [5][6] Herbalife agreed to "fundamentally restructure" its business, in the US but not worldwide, and pay a $200 million fine as part of a 2016 settlement with the U.S. Federal Trade Commission (FTC) following these accusations.[7]. Mark's son Alex Hughes was born in 1992 and he will become very important to this story in a minute. 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. Hughes was found dead in his Malibu mansion, said Los Angeles County sheriff's Sgt. [9], In 1976, after Seyforth Laboratories shut down, he joined Golden Youth, a direct-sales outfit that sells exercise equipment and weight-control products. You will be charged In the meantime, he would receive an estimated $250,000 stipend every year which would some day grow to $2 million per year. [60] Herbalife's SEC 10-Q filings stated that the Israeli Ministry of Health did not establish a causal relationship between the product and liver ailments. In February 1980, Mark R. Hughes began selling the original Herbalife weight management product from the trunk of his car. However, in the press conference, Herbalife was declared not necessarily not pyramid scheme. Ari Emanuel lets his AI alter ego open Endeavors earnings call. (R-Del. The business is incorporated in the Cayman Islands, with its corporate headquarters located in Los Angeles, California. Mark Reynolds Hughes, the wealthy 44-year-old founder of Herbalife International Inc., was found dead in his Malibu beachfront mansion Sunday morning, apparently of natural causes, a sheriffs spokesman said. The Department of Justice of Canada filed criminal charges against the company in November 1984 for misleading medical claims in advertisements. Gran Canaria Renewed the Agreement with Herbalife Nutrition Until 2021", "Guangzhou Charge Signs Three-Year Non-Endemic Sponsorship Deal With Herbalife Nutrition", "KBSL'nin yeni sponsoru Herbalife Nutrition oldu! Instead of splitting the company, they agreed that Hughes would run the marketing end while Marconi would be the exclusive supplier, according to Marconis suit. He also owned a $30 million, 22,000 square foot castle in Beverly Hills called Grayhall that sat on 2.5 acres of the most expensive real estate in the world. 2023 Celebrity Net Worth / All Rights Reserved. In October 2022, previous CEO Michael O. Johnson was appointed as Chairman and interim Chief Executive Officer following the departure of John Agwunobi. [41] Since 2013, the company has operated a botanical extraction facility in Changsha, Hunan Province, China. [5] The company announced in November 2016 that Chief Operating Officer Richard Goudis would take over the position of CEO in June 2017 and Johnson would transition to executive chairman. They said diversifying the companys supply chain was a prudent business decision. [30] On April 25, 2018, Herbalife announced that it had changed its name from Herbalife Ltd. to Herbalife Nutrition Ltd. His blood alcohol level was 0.21% (more than double the drunk driving level). [127], Herbalife Nutrition has sponsored France's national volleyball team and the Major League Soccer club LA Galaxy since 2007 and has sponsored Cristiano Ronaldo since 2013. On August 20, 2019, it was revealed that The Mountain of Beverly Hills had been sold at auction for $100,000. In the mid-1980s, Hughes, who was 24 when he started his company, was sued by the Food and Drug Administration, the California attorney generals 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. Sen. William V. Roth Jr. On June 16, the coroner found that Mr. Hughes had died May 21 of an overdose of alcohol and a toxic level of doxepin, an antidepressant. Submit a correction suggestion and help us fix it! [14] On December 16, 2004, the company had an initial public offering on the NYSE of 14.5 million common shares at $14 per share,[25] netting the owners $1.3billion. Mark Hughes, founder of Herbalife International Inc., had been on a four-day drinking binge just before his death in May, according to final autopsy . [142], The 2018 book When The Wolves Bite: Two Billionaires, One Company, and an Epic Wall Street Battle by Scott Wapner discusses Ackman's short of the company and his battle with Icahn. LOS ANGELES (CNN) -- Mark Hughes, the founder of Herbalife International, one of the world's leading distributors of herbal products, died of an accidental overdose after mixing alcohol. At midnight, she went to sleep after he ''resisted her efforts'' to wake him. Two months after Hughes died, Herbalife fired another long-time Hughes associate, former executive vice president Michael E. Rosen, who was a counselor at the reform school attended by Hughes. The EIN: 22-2306795. An autopsy . [22] Concurrently, plant sources of ephedrine were removed from Herbalife products in 2002 after several U.S. states banned supplements containing such herbs. [122][123][124], In 2019, the U.S. Justice Department charged two of Herbalife's employees with conspiracy in violation of the Foreign Corrupt Practices Act (FCPA). Hughes founded Herbalife International, a weight-loss and nutritional products company, in Beverly Hills in 1980. The goal of the case was to get the trustees removed for mismanaging the estate. Previously, Pair was Herbalife exec VP, chief operating officer and secretary. This was a strategic move to get more competitive pricing and to meet the needs of global, political and economic factors, said Conrad Klein, Herbalifes executive vice president. Today, the program helps to provide proper nutrition to over 229,000 children in 59 countries around the globe. [14], 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. [83][84], Critics of the company's structure have contended that it has operated as a pyramid scheme. Mark's sole heir was his son Alexander Hughes, who was eight years old at the time. Throughout the growth of the company, three key players--two from Hughes reform school days and one who knew how to manufacture weight-loss products--fought for his ear while helping to chart Herbalifes course. 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. Its charismatic founder Mark Hughes was found dead at the age of 44 in his mansion. Instead, according to the lawsuit, the unnamed analyst maintained Rosens personal checkbook, tracked his investments on a daily basis, paid his bills and helped prepare his tax filings. Ouch. 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. [109], In March 2014, the FTC opened an investigation into Herbalife in response to calls from consumer groups and members in both houses of Congress. She tried and failed once again to rouse him at 1 a.m., according to the autopsy. Neither the alcohol nor the drug were present in sufficient quantity to have been the sole cause of death, Carrier said. Mr. Hughes, 44 years old, was found dead at his $25 million Malibu Alex was only 8 in 2000 when his father, Herbalife founder Mark Hughes, died and left a $400 million trust for his only son to inherit at 35. In that time a lot had changed with both Herbalife and his real estate portfolio. She battled obesity and tension via amphetamines and sleeping pills. He founded the company 20 years ago. Moreover, Herbalife executives said the strategic move to stop using Global Health as a near exclusive supplier started three years ago with Hughes approval. 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. [49], In 2008, Herbalife was sued after laboratory tests indicated that levels of lead in several Herbalife products were in excess of California state law[50] and could lead to liver problems over an extended period of time. So It Redesigned Its Iconic Can. The Los Angeles City Council approved construction of the proposed $50-million home, which would have been bigger than the White House. Here's my phone number. Registered 501(c)(3). TimesMachine is an exclusive benefit for home delivery and digital subscribers. [42][43] The facility produces botanical extracts, including teas, guarana, chamomile, broccoli, and bilberry, for use in many of the company's products. (Photo by Axel Koester/Sygma/Sygma via Getty Images). Hughes' blood-alcohol level was recorded at .21 percent. But Mark's Herbalife stock wasn't his only source of wealth. LOS ANGELES -- The death of Herbalife International Inc. founder and Chief Executive Mark Hughes last month was an accident, said the Los Angeles County Coroner's office. Mark had one child, with wife #3 Suzan Schroder (the former Miss Petite USA). We are delighted that you'd like to resume your subscription. [15][16], By 1988, the company had expanded its reach to Japan, Spain, New Zealand, Israel, and Mexico and increased its worldwide sales to $191 million in 1991. [39][40]:16 The company's production process is based on a 'seed to feed' strategy, which the company initiated in the 2010s that allows it to trace where the ingredients in its nutritional products originated. The case was resolved with Herbalife and its distributors paying $7million into a fund for class members part of the suit. Herbalife paid Pair, the companys chief operating officer until Hughes death, $3.4 million last year. Attacking three nutrition and weight-control authorities who questioned the safety of his products, Hughes asked senators: If theyre such experts, then why are they fat? Autopsy on Herbalife founder finds death caused by accidental overdose. [22], Mark and Suzan established the Herbalife Family Foundation (HFF) in 1994, a non-profit organization dedicated to improving vulnerable children's lives through helping charity organizations meet the nutritional needs of children at risk, and providing funds to organizations that assist victims of natural disasters. The buyer was Alex Hughes. Over the years, Mark developed a passion for investing in real estate. It was Rosen, an advisor at the Cedu School, who met Hughes in the 1970s and discovered that the shaggy but charismatic Hughes had a talent for raising funds for the program. The company was founded by Mark R. Hughes in 1980,[3] and it employs an estimated 9,900 people worldwide. Helped by Hughes tearful tale of his rags-to-riches past and his mothers early death from addiction to diet pills, the Los Angeles-based marketer grew rapidly to its current $1 billion in annual sales and a work force of about 1,000 employees in Southern California. As of 2015, 58 percent of the company's nutrition products were manufactured at Herbalife-owned facilities. Pair was named acting president and CEO following the death of founder Mark Hughes (1"The Rose Sheet" May 29, p. 7). Let's start from the beginning. Hughes often stated that the genesis of his product and program stemmed from the weight loss concerns of his mother Joanne whose premature death he attributed to an eating disorder and an unhealthy approach to weight loss. [12] Health agencies accused the company of violating labeling standards and using improper sales practices. 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. He was fined $1,762; sentenced to a day in jail, 12 months probation and court-ordered psychiatric counseling; and told to stay clear of Saks, according to court records. Ive lost 16 pounds in the last few years., During the hearing, Hughes acknowledged that his own formal education stopped at the 9th grade. However, as a result of the negative publicity from the FDA lawsuit, the company posted a $3 million loss that year. Hughes had built his company from an operation he ran out of his garage to a then $1.8 billion multi-level-marketing. filed on February 17, 2005, the plaintiff challenged "the marketing practices of certain Herbalife International independent distributors under various state laws". [54] The settlement also required that distributors are only able to earn one-third of their rewards based on recruitment. They were accused of bribing Chinese officials in order to procure sales permits and to influence an investigation into Herbalife. In 1993, the company underwent a secondary offering of five million shares. They were also accused of offering bribes to China Economic Net in order to influence their media coverage. LOS ANGELES The death of Herbalife International Inc. founder and Chief Executive Mark Hughes last month was an accident, said the Los Angeles County Coroner's office. Doxepin is sometimes prescribed for anxiety-induced sleeplessness, and it is thought Hughes was using it for that purpose, Carrier said. After Hughes was arrested twice for drunk driving, in 1996 and 1997, Marconi said he approached Rosen and Pair with a plan to take Hughes to a secretive alcohol-treatment center in Switzerland for three weeks. This vote of confidence helped increase Herbalife's stock price significantly. Our Founder, Mark Hughes | Herbalife Nutrition Foundation Our Founder Mark Hughes (1956-2000) founded Herbalife in 1980, with the goal of changing the nutritional habits of the world, one person at a time. [138][139], In 2016, a Last Week Tonight with John Oliver segment on multi-level marketing focused on Herbalife; it strongly condemned the company for its structure resembling a pyramid scheme and cited the FTC report, which implied the company had been operating illegitimately. month was an accident, said the Los Angeles County Coroner's office. He wrote frequently about consumer and safety issues in the car business and the relationship between the auto industry and the state and national economies. Wife #4, Darcy LaPiere (the Hawaiian Tropic model), had previously been married to action star Jean-Claude Van Damme. [143] In the book, Wapner characterizes Ackman's decision to bet against Herbalife as dangerous, because it anticipated that the government would shut Herbalife down. Orders New Trustees of Herbalife Founder's Fortune", "Nezavisni Herbalife lan - DanijelXenya", "Herbalife family foundation renews its partnership", "NGO gets funds to feed needy children - Khmer Times", https://en.wikipedia.org/w/index.php?title=Mark_R._Hughes&oldid=1138094363, This page was last edited on 8 February 2023, at 00:32. "[2], 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. According to a court-ordered audit, in 2005, the value of 13 year old Alex Hughes' trust fund had grown to $400 million. [12] That same year, the California Attorney General sued the company for making inflated claims about the efficacy of its products. The company suffered as a result of the lawsuit and was forced to lay off nearly 800 employees by May 1985. Rich L.A. homeowners are snapping them up, Elizabeth Holmes cites her new baby as a reason she should avoid prison for Theranos scam. Mrs. Hughes told investigators that her husband was drinking before he fell asleep on the evening of May 20 on the living room sofa of their $27 million oceanfront estate in Malibu. 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. But we're getting ahead of ourselves. Kevin de Len just postponed Wakanda Forever screening after uproar, Many remain stranded in San Bernardino Mountains as snow blocks roads, threatens roofs, Suspected shooter in attacks on Jewish men was on FBIs radar, LAPD chief says, Caregiver accused in Manhattan Beach child sexual abuse case believed to be in Philippines, Woman arrested in stabbing death of her mother at their Lake Forest home, Yosemite breaks decades-old snowfall record, closing national park indefinitely. Mark Hughes believed that one person can make a difference and that difference is a healthier world. Griffin dubbed his property "The Vineyard". After Hughes announced that he could not arrange the necessary financing, the companys shares dropped to below $4. 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. Pair subsequently pleaded no contest to the 1998 theft of about $400 in merchandise. In 1994, Mark created Herbalife Nutrition Foundation (HNF), with the goal of improving childrens lives by helping organizations provide healthy nutrition to vulnerable children. The product debuted in 1980 and, as of 2015, was the company's best selling product accounting for nearly 30% of total sales. Herbalife said it paid the analyst $170,000 in salary and bonuses since 1997. As part of his divorce agreement from a year earlier, Mark's estate would also continue to pay ex-wife Suzan $10,000 a month in child support. While the board approved the buyout offer, shareholders of the company filed a suit against the firm because they believed the share price they were offered was unfair. Last fall, dissatisfied with the price Herbalife shares were fetching on the stock market, Hughes announced he would by all the companys outstanding shares, then selling for $12 or lower, for $17 a share. [15] Suzan filed for divorce from Hughes in September 1997. [4], The company has been criticized for allegedly operating a "sophisticated pyramid scheme". Einhorn said the short had been closed before the end of 2012. The offer was increased to $17.81 in January after shareholders sued. After the wives were paid off, Mark's estate was still worth an estimated $300 million at the time of his death. 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. 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