Steve Madden is an American fashion designer and businessman. He is the owner of fashion label Steve Madden Ltd, a publicly-traded company that designs and sells shoes and other fashion accessories. Being one of the leading designers of modern time, Steve Madden net worth is $300 million USD.
The following article talks about the life and works of this charismatic personality of the fashion and business industry.
Table of Contents
Biography and Background
Full Name
His full name is Steven Madden.
Nickname
He is known as Steve to his close and dear ones.
Nationality
Steve is an American by birth. He was born in Far Rockaway, Queens, United States.
Birthday
He was born on March 23, 1958 which currently makes him 58 years old.
Profession
He is mainly a fashion designer and a businessman. He’s fashion label is one of the leading brands in the industry today.
Zodiac Sign
Steve’s Zodiac sign is Aries.
Background
Steve Madden was born to a Jewish mother and an Irish Catholic father. He grew up in a village called Lawrence in Nassau county and completed high school there. Then he went on to study at University of Miami for two years before returning to Long Island.
When he was studying in high school he got a job in a shoe store and immediately developed a fascination towards footwear. So the interest began from a really young age. He moved to New York after his two years stay in Miami. For the next two years he sold shoes there.
This was the beginning of the journey of his life, the journey where he became a millionaire from a shoe seller, proving once again that if you work hard in life nothing can stop you from becoming successful.
Family Description
Parents
The name of Steve Madden’s parents is unknown. But it is known that his father was an Irish Catholic and worked as a textile manufacturer. His mother was Jewish and was a housewife.
Siblings
Steve has two brothers. They are both older than him.
Spouse
In 2005 he got married to Wendy Ballew, his former director of operations. They were married for 10 years before getting separated in 2015.
Children
Steve Madden has three children with his wife Wendy. His two sons are named Stevie Madden and Jack Madden and a daughter named Goldie Ryan Madden.
Career Development
Steve Madden is one of the most successful fashion designers and businessmen of modern time. But like every other successful person the road to success wasn’t easy for Mr. Steve. His career began after he left University of Miami. He sold shoes for two years. The year 198 was a big turning point in Steve Madden’s life.
That year he started working in L.J Simone, a wholesale firm. There he learned how shoes are manufactured and also how to do its marketing. He worked there for 8 years and left in 1988. Prior to leaving the company he and one of his partners tried to open a brand of womens shoes called Souliers.
But their attempt was unsuccessful and didn’t turn out as they would’ve hoped for. He also got arrested for drunk driving shortly after he left L.J Simone and went into rehabilitation. So luck wasn’t doing much favor at that time.
But determined to start his own line of footwear, he began his own label Called Steve Madden Ltd in 1990. He began by making 500 pairs of shoes from his own design and selling them in New York’s stores from the trunk of his car. His first success was a women’s shoe called Mary Lou. In 1993 he opened his first retail store in New York.
In the same year he started putting his company’s stock in Long Island securities firm Stratton Oakmont. He continued to work with Stratton Oakmont till 1997.
But soon everything was turning out to be a mess again as multiple people, including his friends and partner Danny Porush at Stratton Oakmont were found guilty of financial misconduct and sentenced to jail.
Steve didn’t get away either, in 2000 he was pleaded with civil and criminal charges for his association with Stratton Oakmont and the following year found guilty for security frauds and money laundering.
In 2002 He was handed over 41 months in prison. He served 31 months. Though he was absent from his duties the company he created continued flourishing under its strong management system.
And after he returned from prison in 2005 he continued to work with the company again. Leaving all this horrible past behind and keep on moving forward.
The company quickly came back on track, increasing its revenue by nearly $100 million in 2006 to $475.1 million. Later that same year Steven Madden, Ltd. was named ‘Company of the Year’ for the second time at the Footwear News Achievement Awards.
He was featured in the 2013 hit film “The wolf of Wall Street”. Although Steve criticized the portrayal of his character stating that it was too nerdy.
Awards and Honors Steve Madden Received
- Footwear News Person of the Year Award (December 2011)
- NASDAQ Honors Steve Madden & 20 Year Anniversary (June 2010)
- Two Ten Foundation Honors Steve Madden (June 2010)
Steve Madden Net Worth
Steve Madden is one of the most successful businessmen and footwear designers of modern time. His Label “Steve Madden Ltd” is not only famous in the United States but all around the globe. This tremendous fan following and his brand being one of the most unique, fashionable, reliable helped him to gain a prestigious net worth.
Steve Madden net worth is $300 million. And as his brand is growing more and more day by day we can only expect this net worth to gain more in the upcoming days.
Social Media Presence
Steve Madden has official Facebook, Twitter and Instagram accounts. The link of his accounts are given below.
Facebook- https://www.facebook.com/SteveMaddenShoes/
Twitter- https://twitter.com/stevemadden?lang=en
Instagram- https://www.instagram.com/stevemadden/?hl=en
Final Thoughts
Steve Madden is a 58-year-old American footwear designer and businessman. He has seen many ups and downs throughout his life. At one stage he even had to serve a jail sentence. But none of this broke his iron strong mentality.
He fought back all the obstacles life threw at him and from a shoe seller in the stores of New York he is now a billionaire and owner of a leading fashion label of modern time.
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