In this post, we'll talk about some interesting facts about Stevie Madden's life, like his age, current relationship status, family, and net worth. So, keep reading to get more information. According to Celebritynetworth, Steve Madden is worth $300 million.
Who is Steve Madden?
American fashion designer and entrepreneur Steven Madden hail from the United States. He started Steve Madden, Ltd., which is now a publicly traded company, and served as its CEO in the past.
|Net Worth||$300 Million|
|Full Name/birth Name||Steve Madden|
American Fashion Designer, Businessman and Convicted Felon
Far Rockaway, New York, United States
Steve Madden Early Life, Family, and Education
Steve Madden was born in the year 1958 in the borough of Queens located in Far Rockaway, New York. He had an Irish-Catholic father and a Jewish mother, and he grew up in Lawrence, which is nearby.
He also has two older brothers named John and Luke. As a young man, Steve obtained his education at Lawrence High School and gained employment at a shoe store.
Following graduation, Madden enrolled at the University of Miami. Following his sophomore year, he moved back to Long Island and spent the next two years working in the shoe business, gaining insight into the aspects of footwear that were appealing to and unappealing to female customers.
Steve Madden Career Highlights
Steve Madden started his career in the footwear industry when he was still in college. He got his start in the footwear industry as a teenager in a Toulouse store. After finishing his degree, Steve got jobs at a boot wholesaler and a women's clothing store.
The shoe business was an appealing one to him. Steve started his first shoe firm with the help of a buddy. The company failed to meet its financial goals and had to shut down as a result.
Established in 1990, Steven Madden Ltd. is continuing under his leadership today. Five hundred pairs of the women's boots he designed and sold out of the trunk of his car to local stores made up his entire first batch of sales.
After only three years, Steve saw that the company had gained significant traction among young women and took it public on the NASDAQ.
After adding jewelry and handbags to its offerings, the company saw a surge in 1997 revenue to $59 million. In the year 2000, Steve was found guilty of money laundering and given a 31-month prison term.
The stock price of the corporation declined after he was removed from his job there. After doing his time, Steve was promoted to the position of the lead designer at the company, where he was instrumental in restoring its previous glory.
What is the Net Worth of Steve Madden?
According to Celebrity Net Worth, American businessman and fashion designer Steve Madden has a net worth of $300 million. Steve Madden, who 1990 started the shoe company that bears his name, got the company off the ground with a meager initial investment of $1,100.
The current market cap is $3.42 billion, and the company generates more than $1.5 billion annually in sales. The Cobbler, How I Disrupted an Industry, Fell From Grace, and Came Back Stronger Than Ever” was Madden's autobiography, published in 2020.
Steve Madden Personal Life: Wife/Kids
He might not have a significant other. Prior to their divorce in 2015, Madden was married to Wendy Ballew from 2005 to 2015. Wendy had held the position of director of operations for him. After he was released from jail, the couple tied the knot.
In addition to a history of substance addiction and alcoholism, Madden was required to attend treatment for substance abuse by the court. Jack and Stevie Madden, as well as Goldie Ryan Madden, are Wendy and Madden's three children. Wendy and Madden are the parents.
Steve Madden Award and Achievements
Five times, including most recently in 2017, Steve Madden has been named FN's Company of the Year. The Footwear News Achievement Awards (or “Shoes Oscars”) recognize outstanding contributions to the footwear industry.
Also in 2011, Steve Madden was voted “Person of the Year” by the readers of Footwear News. On the company's 20th anniversary, Steve Madden rang the closing bell at the New York Stock Exchange. During the same year, he also took home the trophy for Brand of the Year at the Annual American Images Awards.
Steve Madden Controversy
For his role in a 2001 stock “pump and dump” fraud involving financial firm Stratton Oakmont and its founder Jordan Belfort, the Securities and Exchange Commission (SEC) charged Madden (who would later be made infamous by the movie “The Wolf of Wall Street”).
For his part in stock manipulation and securities fraud in 2002, Steve received a 41-month prison term. He was incarcerated for 31 months, while Belfort was confined for 22.
Though Madden served time in prison and had to quit as CEO of Steve Madden Ltd., the company quickly hired him back as a “creative consultant.” Due to his position, he was able to keep collecting his $700,000 annual pay even after he was sentenced to prison.
Upon his release from prison in April 2005, Steve was sentenced to 60 days in a New York City halfway house followed by a period of home detention.
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Frequently Asked Questions
Steve Madden Did He Show Up in the Movie?
The Wolf of Wall Street, based on Jordan Belfort's book, stars Jake Hoffman as Madden. In the movie, Madden visits Stratton Oakmont, where Belfort motivates the brokers to push Madden's stock. Madden says he's “too nerdy” for the movie.
Is Steve Madden Gay?
Following an eight-year marriage to Wendy Ballew, Steve Madden got a divorce. It is his daughter. Not homosexual is this famous person. Prior to getting married once more, Wendy briefly eloped with him.