Where Are They Now?
1996 was a banner year for Robert Earl’s Planet Hollywood restaurant chain and its celebrity shareholders, Sylvester Stallone, Bruce Willis, Demi Moore and Arnold Schwarzenegger. Movie star “owners” received stock options at rock bottom price in exchange for their endorsement.
In April, Planet Hollywood International Inc. did an IPO of some 11 million shares of common stock priced at $18 a share. Trading on Nasdaq with the symbol PHII, the share topped $26, and Planet Hollywood International received some $180 million.
The stock was delisted just before the company’s first bankruptcy in 1999. Most of its outlets were closed. The company again filed for Chapter 11 reorganization in 2001.
At its height, Planet Hollywood had some 80+ locations around the world. Today there are Planet Hollywood operations in Guam, Las Vegas, Myrtle Beach, New York, Orlando, Acapulco, Bali, Cancún, Disneyland Paris, Dubai, Jakarta, London, Niagara Falls, and Riyadh, Saudi Arabia. According to the official website, new branches in India and Kuwait are planned.
Planet Hollywood International, Inc. has been trading on the Pink Sheets (PHWDQ) since 2000, recently at $.08.
Arnold Schwarzenegger severed his financial ties with the business in early 2000, saying the company had not had the success he had hoped for. Today he is in his last term as governor of California.
Sylvester Stallone has continued his film career with Rocky Balboa in 2006, Rambo in 2008 and The Expendables in 2010.
Bruce Willis and Demi Moore divorced in 2000. Willis continues to star in films, and Moore has enjoyed a revival of her acting career.