Martha Stewart Was the First Self-Made Female Billionaire in the U.S. Here's How She Built Her Net Worth

10/31/2024 10:44 AM

The renowned businesswoman was once worth $1 billion after taking her company public in 1999

Martha Stewart is one of the most iconic businesswomen in the U.S., and her net worth reflects that.

The renowned homemaker built her brand off of her cooking shows, homeware lines and media empire. In 1976, Stewart started her own catering business and, within six years, was connected to Alan Mirken, the head of Crown Publishing Group, who was impressed with her chef skills and contacted her to write a cookbook.

The book Entertaining was met with massive success and launched Stewart's career as the ideal homemaker, teaching her fans how to not only cook but host parties and entertain. She started releasing a cookbook nearly every year until launching her media empire in the 1990s.

In 1997, Stewart consolidated her magazine, TV show and merchandising ventures into Martha Stewart Living Omnimedia, and has since published over 70 books.

The business mogul took the company public in 1999, making her the first female self-made billionaire in the U.S. After her 2004 conviction on charges of conspiracy, obstruction of justice and making false statements to federal investigators, among others, shares of her company soared 90%, making her a billionaire once again, per Forbes.

Stewart eventually fell off the billionaire list in 2001, and Forbes last reported her net worth to be around $220 million in 2015.

"I had opposition, and that kind of opposition to a woman-built business was really outrageous," Stewart told PEOPLE in November 2020 of her peers' reaction after she became a billionaire. "Even my own lawyers were negative about the possibility of success. I remember one lawyer sending me an orchid, saying, 'Oh, you did it. Wow. What a surprise.' "

Here's everything to know about how Martha Stewart built her net worth, from her lifestyle magazine to her cooking shows.

What is Martha Stewart's net worth?

Stewart was first declared a billionaire by Forbes in 2000. However, Forbes last reported her net worth to be $220 million in 2015, making her just $30 million shy of the outlet's inaugural list of America's wealthiest self-made women.

Stewart's business acumen began when she worked as a stockbroker in the 1970s. Later, she pivoted to starting her own catering company.

"I had a very successful career in the stock market, and I sometimes regret not staying in that business, because becoming an investment banker would've been pretty fabulous," she told PEOPLE in November 2020. "But I was lured to the home."

And "the home" was drawn to her, as Stewart wrote at least nine cookbooks in the 1980s alone to great success and has since written dozens more. By 1990, she began serving as editor-in-chief of her own magazine, Martha Stewart Living, and launched a weekly half-hour television program of the same name in 1993.

In 1997, Stewart combined all her businesses under Martha Stewart Living Omnipedia and took the company public two years later. The shares skyrocketed in price, making Stewart a billionaire.

By 2002, the price of the shares had significantly decreased, thus also lowering Stewart's net worth.

What happened to Martha Stewart's net worth when she went to jail?

According to the U.S. Securities and Exchange Commission, in 2001, Stewart allegedly avoided losing $45,673 after selling her shares of ImClone Systems, per the advice of her broker at Merill Lynch, who allegedly shared nonpublic information with her. The following day, the stock value fell 16%.

Following the incident, Stewart was criticized in the media and, in 2003, was indicted on nine counts, including charges of obstruction of justice. In 2004, Stewart was found guilty of felony charges and sentenced to five months in prison as well as a two-year period of supervised release.

While Stewart stepped down from her role as CEO of Martha Stewart Living Omnipedia following her indictment, Forbes reported that her company's shares only grew by 90%, making Stewart a billionaire once again after she dropped off the list in 2001.

How has Martha Stewart built her brand since her release from jail?

Following her March 2005 release from prison, Stewart made a highly publicized comeback, returning to national television with Martha Stewart Living and, later, The Martha Stewart Show.

She also expanded her collaborations with other brands, including her ready-made home furnishings at Kmart, a 2,000-piece homeware line with Macy's and a radio show on Sirius.

Stewart has gone on to venture into endeavors with rapper Snoop Dogg, including their 2016 show Martha & Snoop's Potluck Dinner Party. Now, Stewart has a CBD line and launched her first original podcast, The Martha Stewart Podcast, in June 2022, with Snoop as her first guest.

"Look what I've done since I was 50. I started my big business when I was 50," Stewart told PEOPLE in April 2024. "Thirty years later, I am still creating businesses, selling amazing products and writing my 100th book."

How much has Martha Stewart donated to charity?

Stewart has donated to charity throughout her career, but perhaps most notably, in 2006 with a $5 million gift to found The Martha Stewart Center for Living at Mount Sinai Hospital in New York. The goal of the center is to innovate how elderly people in the U.S. receive healthcare.

"I see people in their 90's that are smiling and happy that they finally have a place to go where someone cares for them," Stewart told Forbes of the center's success in 2012. "It is very important to me that people feel cared for, feel nurtured."

What has Martha Stewart said about her worth?

The TV star has been vocal in the past about the hard work it took to build her empire — and how she continues to maintain her wealth now that she's in her 80s.

"I built a company, I feel very responsible for my company, a company which I still have a very vast ownership in," Stewart told Life Stories of her success in July 2023. "I want that company to be very successful, to grow very big, to leave a legacy of what that company stands for."

In addition to her own growth, Stewart has said that she wants to serve as an inspiration for other women as well and pave the path for more female entrepreneurs.

"I think I helped so many other women believe in their own ideas and their own business plans and their own paths to glory," she told PEOPLE in November 2020. "Many other women have built amazing companies and done very well. I think I had a good part in that, without being an overt feminist."