Last Updated on November 14, 2023 by Ben
Kendra Scott started her fashion design, investing, and philanthropy business with just $500 when she was 28. Despite her modest beginnings, she has succeeded in creating an empire worth more than a billion dollars. Her attention to philanthropy and social problems shows her dedication to improving the world. She has allocated a portion of the yearly profits of her business to programs that promote the welfare of women and children.
Kendra Scott’s path to success could have been more straightforward, even though she is currently ranked 35th on Forbes’ list of the wealthiest women in America.
Her revenues fell by 40% during the 2009 financial crisis, and she was on the verge of losing her business. However, as the proverb says, “Fortune favors the brave,” In Scott’s case, her bravery in creating her shop saw her through and led to great success.
Sophisticated Investor analyzed information readily available to the public and made assumptions based on it to determine Kendra Scott’s net worth.
What is Kendra Scott’s Net Worth?
According to research, Kendra Scott’s net worth is roughly $800 million, and this figure was cited in a recent Forbes profile, indicating its accuracy.
Furthermore, Scott is said to have a majority stake in her eponymous company, Kendra Scott LLC, with sales of $360 million. In 2020, the self-made entrepreneur and Investor became a “guest shark” on the 12th season of ABC’s Emmy-award-winning series Shark Tank; this makes her one of the wealthiest women ever seen on the show.
Kendra Scott Biography
Kendra Scott was born on March 27, 1974, in Kenosha, Wisconsin. When she was 16 years old, her family moved to Houston, and during her sophomore year of college at Texas A&M University, her stepfather passed away from brain cancer; his final advice to her was to “Do good.”
Scott founded Hat Box at 19, selling hats for people undergoing chemotherapy and donating the profits to organizations supporting cancer research. She discontinued the business after five years.
Scott began creating jewelry in her spare bedroom in 2002 with just $500 and a three-month-old boy to care for. Austin stores in Austin purchased all of the pieces on the first day.
It was displayed on the runway for Fashion Week in 2005 for Oscar de Renta and two years later for Randolph Duke. Despite the financial crisis, she opened her own business, which caused nearly half of her revenue to be lost. Soon after, Nordstrom placed an order with her.
After successfully growing Kendra Scott LLC’s valuation from $500 to over $1 billion in February 2021, Scott resigned as CEO but kept her position as Executive Chairwoman.
How Did Kendra Scott Build Her Wealth?
Most of Kendra Scott’s fortune comes from owning her business, Kendra Scott LLC. As previously stated, she owns a controlling stake in the company.
Additionally, a 2021 Forbes profile on Scott mentioned that Berkshire Partners, a private equity group, had invested in the business in 2016 at a valuation of over $1 billion.
How is Kendra Scott’s Net Worth Calculated?
Kendra Scott’s net worth is determined by deducting her liabilities from her assets. She is controlling Kendra Scott LLC, worth more than $1 billion.
The USD 800 million estimates are merely a ballpark figure and might not accurately represent her net worth.
Who Else Invests Like Kendra Scott?
Different investors have different styles. Check out these investor profiles to compare other investors to Kendra Scott:
- Lori Greiner
- Bethenny Frankel
- Katrina Lake
- Daymond Garfield John
- Kevin O’Leary
- Ali Webb
- Anne Wojcicki
Want to Invest Like Kendra Scott?
For the typical Investor, having a net worth of over $800 million is not a feasible goal. However, diversifying one’s portfolio is crucial for a long-term investing strategy, even if one has a different degree of cash than her.
A sensible investment strategy is diversifying with non-stock market-dependent assets like precious metals or cryptocurrency. Check out our reviews of the top 5 cryptocurrency IRA firms and our articles on precious metals IRAs to learn more about increasing your savings with these alternative investments.
Pros and Cons Kendra Scott Net Worth
- Her controlling ownership in Kendra Scott LLC is thought to be worth over $1 billion;
- The difference between her assets and liabilities is what is known as her net worth.
- It’s unlikely that the typical Investor would ever experience such success;
- The USD 800 million figure is an estimate and may not reflect her net worth.
Final Thought – Kendra Scott Net Worth
The fact that Kendra Scott has a net worth of over USD 800 million is a remarkable accomplishment and proof of the value of dedication and perseverance. Aspiring investors can learn a lot from her success and adherence to long-term investment techniques, even though it might not be possible for everyone.