The money : the battle for Howard Hughes's billions /

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Bibliographic Details
Author / Creator:Phelan, James R.
Edition:1st ed.
Imprint:New York : Random House, c1997.
Description:xiv, 270 p. ; 25 cm.
Language:English
Subject:
Format: Print Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/2765306
Hidden Bibliographic Details
Other authors / contributors:Chester, Lewis.
ISBN:0394556372 (hardcover)
Notes:Includes bibliographical references (p. [251]-255) and index.
Review by Booklist Review

More than 20 years after his death, the bizarre life of Howard Hughes continues to fascinate a gossip-hungry public and trigger speculation; witness such recent books as Howard Hughes: The Untold Story (1996) by Peter Brown and Pat Broeske and Howard Hughes: The Secret Life (1993) by Charles Higham. Both authors here were early entrants in the Howard Hughes publishing derby. Phelan wrote Howard Hughes: The Hidden Years (1976); Chester coauthored Hoax: The Inside Story of the Howard Hughes^-Clifford Irving Affair (1972). Now the two focus on "the money." Hughes' wealth, which was estimated to be at $165 million shortly after his death, has now been put at more than $6 billion, and the authors detail how Hughes accumulated his fortune. He died without a valid will, and his death set about a mad scramble of supposed heirs, their descendants, lawyers, and even several state governments who all had claims on parts of Hughes' estate. Phelan and Chester untangle the sometimes sordid, always confusing mess layer by layer. --David Rouse

From Booklist, Copyright (c) American Library Association. Used with permission.
Review by Publisher's Weekly Review

Fortunately, this is not another biography of Howard Hughes, nor is it a financial history of how the billionaire made and mismanaged his fortune‘although the book covers all that‘instead, it is the affably told story of what happened to Hughes's money, perhaps $5 billion, after he died in 1976. And what happened was one bizarre lawsuit after another. Hughes seems to have written no will, although several were "found" by would-be heirs. More than 500 people claimed to be related to Hughes, including supposedly illegitimate children and women who said they were secretly married to him (actress Terry Moore being the best known). Ultimately, the estate was shared by doctors, relatives and lawyers. The story also deals with the complexly organized and abysmally run Howard Hughes Company he left behind that was being milked by its wily trustees. The book's hero is Hughes's cousin Will Lummis, who wages a 10-year battle to drive out the scoundrels and turn the operation into a moneymaker. The irony is that the lawsuits revealed the secrets Hughes worked so hard‘and paid so much money‘to conceal, including his drug addiction and mental illness. Phelan and Chester (who wrote Hoax, about Clifford Irving's Howard Hughes book scam) render nicely a new version of a familiar story. Photos not seen by PW. (Oct.) (c) Copyright PWxyz, LLC. All rights reserved

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Review by Library Journal Review

Phelan (Howard Hughes: The Hidden Years, 1976) and Chester (Hoax: The Inside Story of the Howard Hughes-Clifford Irving Affair, 1972) are no strangers to Hughes's life. They do not claim to have written a biography but offer fascinating personal glimpses into Hughes's life. Hughes apparently died intestate, and his fortune of $6 billion attracted various claimants. The primary adversaries in the battle to obtain that fortune were Hughes's former employees, who sought to keep the money in the Howard Hughes Medical Institute, which they controlled, and a slew of Hughes's distant relations. The authors tell this convoluted and intriguing tale in a lively style; it is as lurid as anything in the tabloids but with obvious attention to accuracy. A good title for public libraries.‘A.J. Sobczak, Pasadena, Cal. (c) Copyright 2010. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.

(c) Copyright Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
Review by Kirkus Book Review

Howard Hughes departed his own bizarre world and the real one two decades ago. If you've ever wondered what finally happened to his closely guarded fortune, you'll find the fascinating answer here. Phelan (Howard Hughes: The Hidden Years, 1977, etc.) and former London Sunday Times staffer Chester cogently reprise the crazy death and fabulous curriculum vitae of the industrialist, gambling czar, movie maker, aviator, womanizer, drug addict, and lunatic billionaire. Then the authors, both longtime Hughes watchers, concentrate on the true protagonist: The Money. Was Hughes's legacy relatively chump change of $165 million or really more than $5 billion? Another mystery: Howard's end initiated a search for his last will and testament. To date, no will has been found. But there soon appeared, together with some decidedly odd stories, lots of fakes, along with putative heirs, grieving widows, and lost relatives. California and Texas, mindful of death taxes, each asserted domicile. (Nevada did not impose a death levy, and the obvious domicile for Hughes, La-La Land, was not heard from). The Homeric battle for The Money centered on control of the Summa Corporation and of the principle owner of the fortune, the Medical Institute, originally organized as a tax dodge. As villains, the authors provide the controlling privy councillors, and as hero, Hughes's nephew, Will Lummis, who finally got the thing settled. With the fascination of a visit to a crime scene, the text describes what lawyers daily do for a living, albeit usually for less monumental stakes. Finally, The Money went to doctors (for research), relatives, tax collectors, and even some lawyers--all people Hughes disliked intensely. A great tale, told adroitly, and a worthy addition to the great library of Hughesiana. (16 pages b&w photos, not seen) (Author tour)

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