Martha Stewart is considered the original influencer, and similar to numerous modern social media figures, she has encountered her share of controversies, including a significant legal battle that affected her net worth, as revealed in a new documentary on Netflix.
While TikTok creators are focused on garnering views rapidly, Martha dedicated years to cultivating her brand and business. She exemplified perfectionism in her roles as a homemaker and entertainer, even as her personal life often became tabloid headlines.
Despite the numerous challenges she faced, Martha has consistently upheld her image, whether as a meticulous homemaker, a former inmate, or the unexpected friend of Snoop Dogg.
All these aspects and more are explored in the Netflix documentary simply titled *Martha*, which chronicles her remarkable life through candid conversations, along with rare photographs, letters, and diary entries.
Understanding Martha Stewart’s Net Worth
As of 2024, it is estimated that Martha Stewart’s net worth stands at around $400 million, although this amount has significantly diminished over the years.
In fact, back in 1999, at the age of 83, she became the first female self-made billionaire when her company, Martha Stewart Living Omnimedia, went public. Founded by Martha in 1997, this enterprise has evolved into a media and merchandising powerhouse, specializing in publishing, online content, broadcasting, and product lines.
This remarkable achievement is particularly noteworthy considering her modest beginnings. After graduating from Barnard College, where she met her future ex-husband Andrew Stewart, Martha started her career in stockbroking.
She eventually shifted her focus to her catering business, leveraging her skills as an entertainer and homemaker. This pivot led to the publication of numerous successful books about cooking and home management, as well as a series of popular television shows, culminating in her vast media empire.
However, her net worth took a major hit following an insider trading scandal. According to ABC News, the value of her company plummeted by more than 50%, resulting in estimated personal losses nearing $325 million.
The Netflix documentary highlights how, throughout the 2000s, Martha Stewart Living Omnimedia faced growing struggles as her “social and cultural relevance waned.”She noted, “I was much more agile before I went to prison.” In 2015, she sold her company to Sequential Brands Group for $353 million, a move described by LA Times reporter Meg James as “a devastating moment that signified the end of an era.”
Martha ultimately sold her business
“Being owned by someone else is completely different from running your own company,” Martha remarks, recalling an interview from the time of the sale, where she revealed the loss of “probably more than a billion dollars.”
Nonetheless, Martha has successfully navigated her career post-scandal, highlighted by her appearance in a 2015 Comedy Central roast of Justin Bieber, where she met Snoop Dogg. The duo’s unexpected camaraderie has led to various collaborations, including the launch of the popular Best Buds Bags featuring the BIC EZ Reach Lighter.
Furthermore, Snoop introduced Martha to the cannabis industry, leading her to launch her own line of CBD wellness products in 2020. Thus, despite experiencing numerous ups and downs, Martha’s empire continues to thrive, propelled by fruitful brand collaborations, media presence, and entrepreneurial pursuits.
What Led to Her Arrest?
Martha Stewart’s arrest stemmed from an insider trading scandal after she sold nearly 4,000 shares of the biopharmaceutical firm ImClone Systems based on confidential information in December 2001.
The timing of her stock sale coincided with a critical FDA decision regarding a cancer treatment called Erbitux, which ImClone was relying on.
Her arrest captured worldwide media attention
Her broker, Peter Bacanovic from Merrill Lynch, reportedly disclosed that ImClone’s CEO and his daughter were offloading their shares, indicating they anticipated negative news from the FDA. Prompted by this information, Martha sold her 3,928 shares, successfully avoiding a potential loss of $45,673 when ImClone’s stock fell by 16% after the cancer drug was rejected.
However, this transaction raised eyebrows and fueled speculation about her financial dealings. Although Martha initially denied any wrongdoing, a federal probe led to her indictment in 2003.
In 2004, she faced convictions for conspiracy, obstruction of justice, and making false statements to investigators. Consequently, she was sentenced to five months in federal prison, which was followed by five months of home confinement and two years of probation.
This period significantly affected Martha, who had previously cultivated an image of a picture-perfect lifestyle. The aftermath was harsh; Martha Stewart Living Omnimedia suffered a substantial decrease in value, and both her personal net worth and reputation were severely impacted.
Despite these challenges, Martha demonstrated remarkable resilience, working to revive her brand, a journey reflected in the new Netflix documentary.
Current Status of Ex-Husband Andrew Stewart
After 26 years of marriage, Andrew and Martha Stewart separated in 1987 and finalized their divorce in 1990. Presently, Andrew works as a publisher at Fieldstone Publishing, where his current spouse, Shyla Stewart, serves as president and CEO.
Martha and Andrew Stewart married in 1961
The new documentary on Netflix reveals some startling insights from Martha regarding their marriage. She shares letters addressed to Andrew following his rumored extramarital affairs but also acknowledges her own infidelities.
“He wasn’t content at home. While I don’t know the exact number of girlfriends he had during that time, I can surmise there were quite a few,” reflects Martha.
“Ladies, heed my advice: If you’re in a marriage that seems happy but your husband begins to cheat, he’s not worth your time… leave that relationship. Yet, I couldn’t bring myself to do it; I couldn’t walk away.”
However, when asked about her own early affair while working as a stockbroker, Martha admits, “Yes, but I don’t believe Andy ever discovered that.”
When informed that he “definitely knew” about her infidelity and claimed he didn’t stray until he learned of hers, Martha responds, “Oh, I don’t think that’s true.”
The couple’s divorce was finalized in 1990
Expanding on her past, Martha shares, “I had a fleeting affair with a dashing Irish gentleman, but it was inconsequential; I would never have destroyed a marriage over it.”
She likens it to “the kiss in the cathedral” , reminiscing about a beautiful moment during her honeymoon in Venice when she kissed a charismatic stranger while alone in a cathedral.
Martha explains that she was swept away in the romantic ambiance, stating, “He was emotional, and I was emotional,” concluding, “So why not kiss a stranger?” Although this occurred after their marriage, she maintains that it wasn’t “naughty or disloyal,” rather a moment rooted in emotion.
The documentary about Martha is currently streaming on Netflix.
Images Credit: Dexerto.com
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