Hugh Hefner Saves The Hollywood Sign!

by Emily Green · April 26, 2010

Leave it to Hef to pull through when L.A. needs a sugar a daddy!  Because of him, and a select generous bunch including The Tiffany & Co. Foundation and Aileen Getty, the Cahuenga peak and its Hollywood sign are no longer in danger of being developed. Plans to turn the land into a residential area and build out the Hollywood sign to become a hotel were already being drawn up for when the land officially became property of some Chicago-based investors.

The Trust for Public Land (TPL) was granted an extension from the April 14th deadline to the 30th to raise funds to to purchase the land, and as of this morning, still needed $1 million.  When Hef ponied up $900k, Getty and the Tiffany Foundation each put in another $500k, effectively taking back the land and our beloved Hollywood sign.  Hef, as if you didn't already know this, you are a stud and L.A. loves you. Give it up for Hugh Hefner, the original sugar daddy!

Let's just hope those Girls Next Door don't persuade him into letting them decorate the Hollywood sign with rhinestones and pink feathers. Ladies, keep off!

[Photos via fastcompany, RDA, and CNN]