Hugh Hefner has an estimated net worth of $43 million. He is known for being an American adult magazine publisher and businessman. He is also the infamous founder and chief creative officer of Playboy Enterprises. On Sunday, the 88-year-old Playboy tycoon made headlines after a death hoax was posted on Facebook.

Hugh Hefner, the Playboy founder who has a multimillion net worth, allegedly died of natural causes on Dec. 28, Sunday. According to Inquisitr, the story was spread by a bogus sub-medium of NBC called NBCToday.co. Though the story was totally fake, it circulated online and gained so many likes and shares on social media.

In the Facebook page posted on the report by RumorFix, Hugh Hefner's death rumor appeared to be authentic that includes fake statements from police officers.

"Hugh Hefner, Founder and chief creative officer of Playboy Enterprises, was found dead of natural causes Sunday morning at his home, the Playboy Mansion," the fake death report said. "According to Los Angeles police officer Jimmy N. Gardner, he was 88. Police responded to a call around 9 a.m. PDT and confirmed Hefner's identity from other residents of the Playboy Mansion, Gardner said."

"Police are not releasing a more specific cause of death at this time," the death hoax continued. "'We'll have to wait for an autopsy report for an official cause of death,' said Gardner. 'From what I have heard Mr. Hefner was in good health for an 88-year-old man. With no signs of foul-play we are left to believe his death was of natural causes."

The Playboy founder fake-death headline went viral with more than 150,000 Facebook shares and over 35,000 likes. And on Twitter, it has approximately 1,800 shares. However, Gloucester Citizen reported the huge influx of traffic shutdown when Hugh Hefner, who has a $43 million net worth as listed by The Richest, posted a message on his Twitter page confirming that he's alive.

The Hugh Hefner story is entirely fabricated, and proof to that was a Twitter post by Hefner's wife, Crystal, along with a family photo.

Meanwhile, Hugh Hefner's net worth has taken quite a massive blow as Playboy's stock lost over 80 percent of its value before being taken private in 2011 by private equity firm Icon Acquisition Holdings.

At the peak of Playboy's stock performance, Celebrity Net Worth said Hugh Hefner's fortune was over $200 million.

While most people believe that Hugh Hefner, who has a $43 million net worth, owns the legendary Playboy mansion, the truth is, he does not. Playboy owns the house and Hefner just pays an annual fee to cover rent and other expenses including the room and board for his many live-in girlfriends.