Fashion designer, investor, and philanthropist Kendra Scott has lived her life attempting to make the world a slightly better place. Since founding Kendra Scott LLC two decades ago at 28 years old with $500 a mere three months after her first son was born, Scott has built an empire worth over $1 billion. Moreover, she is driven by an unwavering desire to make the lives of others better in any way she can, with a long history of philanthropic efforts regarding women, children, and cancer research. In fact, Scott has mandated that a portion of her company’s annual revenue directly support causes pertaining to women and children.
Today, Kendra Scott is regarded as one of the wealthiest women in America. In fact, Forbes listed her as #35 on its 2021 list of the wealthiest self-made women in the country. Yet, at times, Scott’s entrepreneurial journey has been arduous. In 2009, at the height of the financial crisis, she came close to losing her company after revenue dropped 40% that year. Yet, it is said, “Fortune favors the brave”. In an act both courageous and daring for the time, Kendra Scott made the decision to open her own store, and that made all the difference.
Taking into account the phenomenal success of Kendra Scott’s eponymous company, for years people have speculated about her actual net worth. Consequently, we here at Sophisticated Investor decided to answer the question, “What is Kendra Scott’s net worth?” In order to find the answer to this question, we assembled all the publicly available information, and have provided estimations to her actual net worth.
|Date of Birth||March 27, 1974|
|Title||Fashion designer, investor, and philanthropist|
|Companies Founded||Hat Box, Kendra Scott LLC|
|Best Known For||"Guest Shark" on ABC's 'Shark Tank'|
|Net Worth (USD)||$800 million|
What Is Kendra Scott’s Net Worth?
According to research, Kendra Scott has an enviable net worth of roughly $800 million. In a recent Forbes profile, the magazine cited this figure, therefore in all probability it is accurate. The magazine profile stated that she has a majority stake in Kendra Scott LLC, which has sales of $360 million.
In 2020, Kendra Scott’s reputation as an adept entrepreneur and investor garnered her a position as “guest shark” on the 12th season of ABC’s Emmy-award-winning series, Shark Tank. As a self-made woman, Scott has the distinction of being one of the wealthiest women who have ever appeared on the show.
Kendra Scott Biography
Kendra Scott was born on March 27, 1974, in Kenosha, Wisconsin. Her family moved to Houston, Texas when Scott was 16 years old. She attended one year at Texas A&M University but had to drop out her sophomore year to assist with caring for her ill step-father in Austin, Texas. Heartbreakingly, her step-father passed away shortly thereafter of brain cancer. Yet, Kendra took some of his last words to her, to heart: “Do good”. Thus, at the tender age of 19, Scott opened her first business, Hat Box, which offered both hats for both men and women, but primarily provided hats catering to people going through chemotherapy. Additionally, Scott donated a portion of proceeds to cancer research initiatives.
In spite of making the valiant attempt at her first entrepreneurial endeavor, unfortunately, after half a decade she was forced to shutter the business. Undeterred, Scott moved forward recognizing that it was an opportunity for personal growth.
In 2002, with only $500 and a three-month-old infant son to care for, Scott commenced designing jewelry in her spare bedroom. With her pieces in tow, she then wandered door-to-door to every boutique in Austin, Texas – selling out completely on her first day.
By 2005, Scott’s pieces were being featured on none other than Oscar de Renta’s runway during Fashion Week. Two years later, some of her jewelry was featured in Randolph Duke’s Fashion Week extravaganza. Then, the financial crisis hit, resulting in nearly half of Kendra Scott LLC’s revenue being lost. Yet, regardless of the circumstances, Scott audaciously decided to open her own store. Moreover, retail giant Nordstrom requested a substantial order to feature her pieces in many of its retail locations. The momentum continued, and the rest is history.
In February 2021, Scott stepped down as the CEO of Kendra Scott LLC, having successfully navigated the company from a mere $500 to a valuation of over $1 billion. She retained her title of Executive Chairwoman.
How Did Kendra Scott Build Her Wealth?
The bulk of Kendra Scott’s wealth comes from her majority stake in her eponymous company, Kendra Scott LLC. As previously mentioned, she has a majority stake in the company.
Moreover, in a 2021 Forbes profile of Scott, the magazine stated that in 2016 “the private equity firm Berkshire Partners invested in the company at a valuation of more than $1 billion”.
How Is Kendra Scott’s Net-Worth Calculated?
Basically, Kendra Scott’s net worth is calculated assets subtracted by her liabilities. She has a majority stake in Kendra Scott LLC, which has been valued at over $1 billion.
Yet, it must be noted that the $800 million USD figure is based upon approximations, and may not necessarily reflect her precise net worth.
Who Else Invests Like Kendra Scott?
Not all investors have the same style. To compare investors like Kendra Scott check out these investor profiles:
- Lori Greiner
- Bethenny Frankel
- Katrina Lake
- Daymond Garfield John
- Kevin O’Leary
- Ali Webb
- Anne Wojcicki
Want to Invest Like Kendra Scott?
Possessing a net worth north of $800 million like Kendra Scott, perhaps will not be a reality for the average investor. Yet, despite not having the capital akin to that of Kendra’s, a diversified portfolio is key to a long-term investment strategy.
Diversification with assets such as precious metals or cryptocurrencies that aren’t correlated to the stock market is a sound investment strategy. To learn more about how to build your nest egg with these types of alternative assets, see our reviews of Precious Metals IRAs, and the Top 5 Crypto IRA companies.