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Robert Charles Joseph Edward Sabatini Guccione was an American visual artist, photographer and publisher. He founded the adult magazine Penthouse in 1965. This was aimed at competing with Playboy, but with more explicit erotic content, a special style of soft focus photography, and in-depth reporting of government corruption scandals and the art world. By 1982 Guccione was listed in the Forbes 400 wealth list, and owned one of the biggest mansions in Manhattan. However, he made some extravagant investments that failed, and the growth of free online pornography in the 1990s greatly diminished his market. In 2003, Guccione's publishers filed for bankruptcy and he resigned as chairman.