Some people may think that Jessica Simpson’s net worth is higher than it is based upon headlines saying she is a “billion dollar celebrity.” That was the annual income of the company she just sold her stake in, although apparently it is possible Simpson could become a billionaire in the long run.
In a related report by the Inquisitr, after selling her stake in the Jessica Simpson Collection, the accomplished entrepreneur joined Jessica Alba as a bikini body businesswoman.
No, Simpson is not on her way to becoming the world’s richest woman based upon just fashion deals. That title in 2015 belongs to Christy Walton, who made $37.9 billion due to Walmart. Jessica Simpson’s net worth is actually far, far smaller, sitting pretty at $150 million according to Celebrity Net Worth.
So how did Simpson earn her millions? It’s not just her 30 million albums that she sold when she was more poplar as a pop singer. In the past, Forbes estimated the Jessica Simpson Collection was paying her around $15 to $20 million per year for using her name on a diverse set of fashion products. Sequential Brands Group probably paid millions to purchase a majority stake in the Jessica Simpson Collection company, but Simpson is still retaining some shares in the brand named after her. She’s also working with the Camuto Group in order to manufacture and distribute footwear.
Now, will Jessica Simpson’s net worth ever make her one of the world’s richest women? She has around $850 million to go in order to reach $1 billion, and if she continued at her current income of $20 million per year she’d become a real billionaire within 42.5 years. That would make her billion dollar retirement at 77-years-old feel absolutely rich, but I’m sure she’d want to become a billionaire when much younger so she could enjoy the fruits of her labor.
According to Robert Passikoff, founder and president of marketing consultant Brand Keys Inc. in New York, Jessica Simpson has the potential to increase her income based upon the strength of her personality, not just her business acumen.
“A lot of celebrities endorse things, but it doesn’t make them a brand,” said Passikoff, according to Market Watch. “It makes them a business person. People want to feel better about themselves and who they are. And Simpson has this rare quality where she can do that.”
Simpson agrees with this assessment according to Forbes, saying that she manages to outsell big name fashion designers because she tries to understand what the average woman wants.
“My business is the heart of who I am,” said Simpson. “I want to make every woman feel confident in what they’re wearing. I do feel like we’re very fashion-forward, but we also listen to the consumer. I have been every size on the planet and I understand women. And I just know how to dress them. I know there’s all different kinds. There’s life in the whole world beyond LA and New York. I understand Middle America and their mindset.”
Do you think Jessica Simpson has the potential to become one of the world’s richest women?