Steve Madden - Net Worth, Brand, Lifestyle

Steve Madden Net Worth	$300 Million
Date Of Birth And Place	1958 in Far Rockaway
Gender	Male
Ex-Wife	Wendy Ballew
Children	One daughter GoldieTwin sons Stevie and Jac
Profession	Designer
Nationality	United States of America
Steve Madden Founded On	1990
Headquarter	Long Island City, New York, United States

What Is Steve Madden Net Worth?

He is an American businessman and fashion designer. His present net worth is $300 million. The founder of Steve Madden Ltd. the Steve Madden shoes company is Steve Madden. Madden launched his business in 1990. The primary investment was only $1,100.Today the company generates more than $1.5 billion in revenue per year. In 2020 he published his business memories in

“The Cobbler, How I Disrupted an Industry, Fell From Grace & Came Back Stronger Than Ever.”

He is one of the highest-paid executives in the United States. He earned nearly $85 million in 2012. In 2011 he arranged two extra stock grants valued at a total of $80 million. The first slot vested in 2017 the second vested in 2023. From Steve Madden tote bag to attractive shoes and sandals every type of trendy shoe and sandals are available in the products list.

Early Life Of Steve Madden

Madden was born in 1958 in Far Rockaway, Queens, New York. He grew up in Lawrence. He has an Irish-Catholic father and a Jewish mother. They are three brothers; he has two older brothers John and Luke.

Young Steve attended Lawrence High School. He also worked at a shoe store in his teenage days. After completing his graduation Steve enrolled in the University of Miami.

After completing his high school studies he moved back to his native place Long Island. He spent two years selling fashionable shoes and got full knowledge about women’s likes and dislikes about the shoes.

When you see the Steve Madden shoe you will understand how experienced he is in the analysis of women’s love for shoes and style. That idea he gets after long dealing with the women’s shoes and sandals.

Career Of Steve

He began working for the sales firm L.J. Simone in 1980. From that time he started to learn about the different styles of shoe manufacturing processes and designs. At the age of 31, He launched his own company Steve Madden Ltd.

First, he sold the shoes from the back of his car. His first sold shoe was called Marilyn. Madden opened his first shoe store in 1993. After that, he opened up another 120 stores in the United States. More than 250 stores in 65 other countries.

Not only the Steve Madden sandals but also the Steve Madden purses for women are also creating a different dimension. Several times Steve Madden, Ltd. won the footwear news. The company also won the title of Partners in Excellence after partnering with Nordstrom in 2010.

The company was also named the brand of the year at the 2010 American Image Awards. According to the 2018 report Steven Madden, Ltd reported $1.65 billion in revenue.

Steve Madden’s Personal Life

He married Wendy Ballew. She was the former director of operations till 2005. The couple has three children, one daughter Goldie, and twin sons Stevie and Jack. The couple got separated in 2015.

He is also struggling with drug and alcohol abuse. He also has attended court-ordered drug rehabilitation. In 2021 the Securities and Exchange Commission charged Steve Madden with being interested in the stock “pump and dump”. This scheme also concerns the financial company Stratton Oakmont and its founder Jordan Belfort.

In 2002 he was sentenced to 41 months in prison for company stock manipulations and security fraud. He served 312 months in prison and Belfort served 22 months in prison.

During his prison sentence, Steve Madden pushed to resign as Steve Madden Ltd’s CEO After he accepted the position with the company as a creative consultant. He drew a salary of $700,000 in a single year. After his prison release in April 2005, Steve lived in a halfway house in New York City. As he lived under home confinement for a specific period.

Bottomline

At present Steve Madden has more than 220 retail stores along with eight online stores. According to the report, of GlobalNewswire his net worth is $1.9 billion. But this brand is not older like the other luxurious brands like Louis Vuitton. The brand’s market cap is $2.64 Billion. This market cap shows which rank Steve Madden has achieved. He is the world’s 3544th most valuable company in the world.

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