Steve Madden | $ 120 Million
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Steve Madden

Founder and former CEO of Steve Madden Ltd

Net Worth $ 120 Million
Steve Madden
Steve Madden
  • Birthday1st Jan, 70
  • Birth PlaceUnited States
  • Marital statusMarried
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Steve Madden is the former head of Steve Madden Ltd, a footwear company started by him. Steve Madden Ltd was bestowed with the honor of being the” Company of the Year” in the year 2006. Steve was convicted for financial fraud in 2002 & was found guilty of securities fraud & stock manipulation. He was handed a prison term of three & half years & as a consequence forced out from his position in his own company. He is an icon in the footwear industry & considered to be one of the most successful designer in US history.   Steve Madden is an extremely wealthy man, thanks to the enormous success he has enjoyed as an entrepreneur. The bulk of his income has come from the massive profits of his footwear company. His company has consistently clocked revenues in the range of 400 to 700 million USD for the past 10 years. He even managed to mint about 700000 USD annually as a “creative consultant” for his firm, a testimony to his genius & the enormous influence he wields over the shoe industry. Unfortunately some part of his fortune has come from shady dealings in the stock market. His net worth till date stands at an impressive 120 million USD.   For a large part of his professional life Steve has enjoyed a very ostentatious lifestyle financed by the hundreds of millions of dollars earned by him. He owns quite a few luxury homes in the US & has a multi-million dollar mansion in New York. He drives around in luxury cars. He flies around in private jets. But he has also endured a lot of hardship in his life due to the time he served in federal prisons. Even after his release from prison, his movements were restricted by the authorities & he was even placed under house arrest for a few months. He has performed some charity work as well by helping victims of the 2010 Haiti earthquake.   Steve Madden was born in a very well off American family & grew up in Cedarhurst, New York. He is of mixed religious origin since his textile mill owner father was a Roman Catholic of Irish origin while his mother followed the Jewish faith. He however has not shown any particular affinity for any religion. Right from his teens he was determined to start his own company. He fell in love with his former director of operations Wendy Ballew & married her in the year 2005. The couple has been blessed with two lovely children & they enjoy a stable family life.

Quotes

  • Growing is an important part of the business, but more important than that is to get better.
  • You need to define yourself in the marketplace.
  • My strengths as a businessman lie in the design and sale of women's shoes, and I have never been comfortable with complicated or technical legal or business documents.
  • People are afraid because I'm candid. They're always worried I'm going to get into trouble.
  • There are a lot of people who get support from a thriving business.

Did you know?

  • He won the Footwear News Person of the Year Award in December 2011.
  • He won the Footwear News Best Performing Wholesaler Award in December 2011.
  • He won the AAFA American Image Awards - Brand of the Year in May 2011.
  • Steve Madden footwear has a presence in over 55 countries with roughly 185 retail stores & 180 concessions.
  • He was sentenced to 41 months in prison for conviction on stock manipulation, money, and securities fraud.

Family & relationships

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