Fourteen years after his death, the estate of billionaire recluse Howard R. Hughes Jr. has been settled.
Records show that $1.13 billion, the bulk of Hughes' estate, was administered through Chancery Court by his cousin, William R. Lummas. The court approved the final accounting of the Delaware administration of the estate Tuesday.The heart of Hughes' empire was invested in Summa Corp., a personal holding company incorporated in Delaware.
Hughes died in 1976 at 72.
Richard L. Sutton, an attorney for Lummas, said that about $150 million in cash awaits distribution to Hughes' heirs across the country.