Today, the fashion mogal isn’t mincing words when it comes to her first marriag.
“The biggest money mistakes? I don’t know. For some reason I thought of my first marriage,” Simpson said with a laugh when asked what were some of her biggest money mistakes – personal or business – that has helped her grow, during an appearance on CNBC’s Closing Bell on Thursday.
Host Kelly Evans replied, “That’s actually a common answer believe it or not.”
So how has the former pop singer earned her fortune? 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.
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.
“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.”
Since the pair called it quits, Simpson, 35, went on to have two children – daughter Maxwell Drew, 3, and son Ace Knute, 2 – with husband Eric Johnson.
Lachey, 41, also found love and has two children of his own. Son Camden John, 2, and daughter Brooklyn Elisabeth, 8 months – with wife Vanessa Lachey.