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Martha Stewart became a billionaire in 2005 while in prison for obstruction of justice, as shares in her company soared over 90%. She transferred her shares to her daughter before conviction, but retained ownership. After her release, the value of her company’s stock dropped 40%, and she lost her billionaire status. Prior to her media empire, Stewart was a child model and stockbroker, and taught herself gourmet cooking through reading books. She was banned from being a CEO or CFO after settling insider trading charges in 2006.
Lifestyle media mogul Martha Stewart became a billionaire in 2005 while in prison for obstruction of justice. Although Stewart’s incarceration was thought to hurt the profits of her brand, shares in her company, Martha Stewart Living Omnimedia, soared more than 90 percent during the five months she was in prison. prison. Stewart had transferred her 29 million shares in Martha Stewart Living Omnimedia to her daughter prior to her conviction, but she still retained ownership and control of her, increasing her value to over $1 billion. while she was in prison. After Stewart’s release in March 2005, the value of her company’s stock dropped 40% and she was no longer a billionaire.
Read more about Martha Stewart:
Prior to her successful cooking, entertainment, and decorating media empire, Stewart was a child model and later worked as a stockbroker.
Stewart is not a classically trained chef, but instead taught herself gourmet cooking by reading books.
After settling insider trading charges in 2006, Stewart was banned from being the CEO or chief financial officer of any company.
