|Celebrity Name:||Steve Madden|
|Real Name:||Steve Madden|
|Age:||64 years old|
|Date Of Birth:||1 January 1958|
|Birth Place:||Far Rockways, New York, United States|
|Profession:||American Businessman, entrepreneur,investor|
|Net Worth in 2023:||$300 million|
Steve Madden Net Worth
Steve Madden is an American fashion designer and entrepreneur. He is the founder and founder and CEO of footwear and accessories company Steve Madden Ltd. At times, he has been one of the highest-paid CEOs of America.
Steve Madden net worth is $300 million. His company’s market capitalization is more than $3.50 million.
Steve Madden was born on 23 March 1958, in Far Rockaway, Queens, New York. His father was Irish-Catholic and his mother was Jewish. He attended Lawrence High School. As a teenager, he worked at a shoe store. Steve completed his graduation from the University of Miami. He has two elder brothers.
After completing his graduation, he worked as a salesperson at several women’s shoes and apparel stores. He also worked at L.J. Simone’s wholesale firm to learn about manufacturing and design.
In 1990, he founded his own shoe company Steve Madden Ltd.
He sold shoes in his car, he sold shoes at $16 wholesale price and $24 retail price. His first shoe was called the Marilyn. His first batch of sales included 500 pairs of women’s boots designed himself. He opened his first store in 1990. It has more than 120 stores in the US and more than 250 stores in 65 countries. Steve listed his company on the NASDAQ stock exchange. Later, the company expanded its product category to handbags and jewelry. In 1997, the company earned $57 million in revenue, and in 2018, the company reported $1.65 billion in revenue.
In 2001, he was convicted of a pump and dump scheme, stock manipulation, and securities fraud and was imprisoned for 31 months by the Securities and Exchange Commission. During that time, he was forced to resign as CEO of Steve Madden Ltd. a Few months later, he worked as a creative consultant and he was paid $700,000 per year while in prison.
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In 2005, Steve Madden married Wendy Ballew. Wendy was a former director of operations in his company. The couple has three children Jack, Stevie, and Goldie.
The couple divorced in 2015.
Awards and Achievements
In 2010, he won Two Ten Foundation Honors Steve Madden. On the 20th anniversary of the company, Steve was honored with the task of presiding over the closing bell of NASDAQ. At the Annual American Images awards, he won the Brand of the Year Award. At Footwear News Reader’s Choice, he won the Person of the Year Award. Footwear News Achievement Award Hall of Fame.
He won the FN achievement award for The Company of the Year 5 times. FN achievement awards, informally known as Shoe Oscar.
In 2015, Steve Madden Ltd was listed among the fastest growing company by Forbes.
In 2017, his company reported net sales of $1.6 billion and revenue of $129 million. Steve’s brand is one of the biggest shoe brands in the world.
Steve Madden net worth is $400 million. In 2012, he earned $85 million in salary. In 2011, he negotiated two additional stock grants (2017,2023) valued at a total of $80 million. Despite legal troubles early in his business, he did not lose his zeal to design shoes and sell them.
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