Retirement Income
How Hughesy turned $100,000 into a dollar

Dave Hughes has opened up about an ill-fated financial investment that saw him lose a six-figure.
The comedian told the Hit Network’s Carrie & Tommy that he sold his share in a business venture, which cost him $100,000, for just a dollar.
“I once invested in a bar and my share – I mean, I’m going to be unrelatable here to some people – my share cost $100,000,” Hughes said on Monday.
Hughes explained that the nightclub, which was in an up-and-coming part of town, did not align with his lifestyle. “I was trying to leverage my profile to make the bar happen, but also I wanted to get joy out of it,” the 48-year-old said.
“I don’t drink and I had a wife at the time … I invested $100,000 for my share and I sold that share for $1.”
The failed foray into the hospitality industry is not Hughes’ only misadventure. In 2017, Hughes bought a five-bedroom house in Elsternwick, Melbourne for $3 million, only to find out later that the bank valued the property at “much less”.
He told Triple M’s Hot Breakfast in January last year that “it took a while” before he could find a tenant for the property, which was renovated by Josh Barker and Elyse Knowles on The Block. “I had trouble renting it,” he said.
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“At one point the real estate agent rang me and said, ‘someone wants to move in but they’ve got a dog’. I felt like saying, ‘I don’t care whether they’ve got a meth lab’.”
It was later reported that Hughes found a renter who paid $2,500 to $3,000 per week for the place.