LOT Old Heritage Auctions  /  2008 April Music & Entertainment #688  / 

31432

Howard Hughes Official Estate Audit, 1976

Currency:USD Category:Memorabilia Start Price:375.00 USD Estimated At:560.00 - 840.00 USD
Howard Hughes Official Estate Audit, 1976
<B>Howard Hughes Estate Audit from 1976.</B></I> A seven volume official estate audit, with an intriguing collection of investment summaries, background reports, appraisals of assets, and a detailed history of the Hughes fortune dating back to 1926. The audit commenced six months after Hughes' death and, interestingly enough, the investigation found that Hughes had lost a total of $264 million mostly due to "Hughes' own idiosyncrasies such as the upkeep of the Spruce Goose and his habit of surrounding himself with a legion of aides in posh hotels..." Due to Hughes' infamous donation of all Hughes Aircraft stock to the Howard Hughes Medical Institute (a tax-exempt foundation) the auditors were not allowed access to approximately half of the Hughes fortune. In what must have been an incredibly frustrating investigation, the report concluded: "Although this cash audit has left many questions unanswered, the Hughes Estate is so large and complex that eventually a line has to be drawn somewhere." The set is one of eight copies extant, and is in overall Very Fine condition. An ultra-rare exploration into the mysterious Hughes legend.<BR><BR><b>Shipping:</b> Books & Catalogs (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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