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The $100 Million Secret: Who Really Owns The Playboy Mansion And What’s Happening To The Grotto In 2025?

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The iconic Playboy Mansion, a symbol of Hollywood's most extravagant and exclusive parties for decades, is no longer the property of the late Hugh Hefner or Playboy Enterprises. As of late 2025, the estate is owned by a billionaire investor and heir who has spent years and millions of dollars meticulously renovating the legendary property and is now combining it with his adjacent home to create one of Los Angeles’ most expansive private compounds. The transition from a notorious party palace to a sprawling private residence marks the final chapter of the mansion’s public life, transforming its legacy from a cultural landmark into an ultra-exclusive, unified mega-estate. The current owner, Daren Metropoulos, is a private figure who purchased the mansion with the explicit intent to restore it to its original architectural glory while merging it with his neighboring property. The sale was a landmark event in Los Angeles real estate history, not just for its price tag but for the unique condition that allowed its famous former resident to remain in residence until his death. The transformation of the property is now complete, ushering in a new era of privacy for the estate that once hosted the world’s most talked-about events.

The Billionaire Heir: Daren Metropoulos Biography and Business Profile

The current custodian of the Playboy Mansion is Daren Metropoulos, a prominent figure in the world of private equity and a member of one of America’s wealthiest families. His acquisition of the Holmby Hills estate was a strategic move to unite two historic properties.

Full Name: Daren Metropoulos

Born: Circa 1983

Nationality: American

Occupation: Principal at Metropoulos & Co. (Private Equity Investor)

Father: C. Dean Metropoulos (Greek-American billionaire and investor)

Education: University of Connecticut

Key Business Interests & Entities:

  • Metropoulos & Co.: A private equity firm specializing in acquiring and revitalizing iconic consumer brands.
  • Hostess Brands: Daren and his family famously acquired Hostess out of bankruptcy, successfully relaunching beloved snack cakes like Twinkies, Ding Dongs, and Ho Hos.
  • Pabst Brewing Company: He served as co-CEO, helping to revitalize the company and its signature brand, Pabst Blue Ribbon (PBR).
  • BlueTriton Brands (formerly Nestlé Waters North America): The family's investment portfolio includes major beverage companies.
  • Bumble Bee Foods: Another major brand in the family's investment history.

Daren Metropoulos purchased the adjacent property, known as the Gothic Tudor Manor, in 2009 for $18 million, long before acquiring the Playboy Mansion. His vision has always been to combine the two plots, restoring the original integrity of the massive estate that once encompassed both homes.

The Controversial $100 Million Sale and the Hefner Clause

The sale of the Playboy Mansion in 2016 was one of the most talked-about real estate transactions of the decade, not only because of the astronomical price but also due to the highly unusual conditions of the purchase.

The estate, officially known as the Playboy Mansion West, was originally listed by Playboy Enterprises for a staggering $200 million. The final selling price to Daren Metropoulos was $100 million, setting a new record at the time for the most expensive residential sale in Los Angeles County. The property is located at 10236 Charing Cross Road in the exclusive Holmby Hills neighborhood, an area known for its mega-mansions and high-profile residents.

The Life Estate Stipulation

The most unique aspect of the sale was the "life estate" clause. The terms of the deal stipulated that Hugh Hefner, the founder of Playboy Magazine, would be allowed to remain living in the mansion until his death. This meant that while Metropoulos immediately became the owner, he could not take full possession or begin his renovation plans until Hefner passed away. Hefner died in September 2017 at the age of 91, after which Metropoulos officially took over the property.

The Mansion's Architectural Legacy

The mansion itself is an architectural marvel. It was designed by architect Arthur R. Kelly in 1927. The style is a blend of Gothic Revival and Tudor Revival, giving it the look of a grand, yet somewhat foreboding, English country manor. It spans over 14,000 square feet and sits on approximately 5 acres of land before the merger with the neighboring property. The sheer scale and history of the estate, not just its notorious parties, contributed to its immense value.

The Transformation: A Unified 7.3-Acre Compound in 2025

Since taking full possession, Daren Metropoulos has embarked on an extensive and long-term renovation project that has completely transformed the estate. The goal was not to demolish or modernize, but to meticulously restore the mansion to its original grandeur, removing the wear and tear of decades of continuous, high-intensity use.

The renovations, which were reportedly completed around 2025, focused heavily on structural integrity, historical preservation, and a complete overhaul of the grounds. The most significant move, however, is the long-anticipated plan to combine the Playboy Mansion with his adjacent 2009 purchase.

Merging the Two Estates

Metropoulos has secured the necessary permits to formally merge the two properties into a single, massive land parcel. This unification creates a compound spanning approximately 7.3 contiguous acres in Holmby Hills, making it one of the largest private estates in the area. The combined property restores the original vision of the land, which was once a single, sprawling estate before being subdivided.

The Fate of the Grotto and Famous Features

One of the most frequently asked questions about the renovation is the fate of the mansion’s most infamous feature: The Grotto. The Grotto is a man-made cave and swimming pool area known for its revolutionary, yet controversial, design that became the epicenter of the mansion’s legendary parties. Unlike many features of the estate which were in disrepair, the Grotto is a designated element of the property's cultural history. Metropoulos’s extensive restoration efforts have focused on cleaning, repairing, and preserving the main structures, including the swimming pool, the tennis court, the wine cellar, and the mansion’s main house itself. The notorious Zoo License, which allowed the mansion to keep exotic animals on the property, has likely lapsed or been transferred, as the estate is now a private residence.

The transformation from a hedonistic party venue to an exclusive, historically preserved private residence is complete. Daren Metropoulos has effectively closed the door on the Playboy Mansion’s public era, securing its future as a magnificent, unified, and private architectural gem in the heart of Los Angeles.

The $100 Million Secret: Who Really Owns the Playboy Mansion and What’s Happening to the Grotto in 2025?
who owns the playboy mansion
who owns the playboy mansion

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