What's the Net Worth of Former Abercrombie & Fitch CEO, Mike Jeffries?

Mike Jeffries, the former CEO of Abercrombie & Fitch, boasts a substantial net worth of $300 million, per Celebrity Net Worth. Mike Jeffries accumulated his net worth through his roles at various retailers, including Abraham & Strauss, his own company Alcott & Andrews, and Paul Harris. However, the majority of his wealth came from his time as CEO of Abercrombie & Fitch, where he received significant compensation and equity ownership.

What are Mike Jeffries’ sources of income?

Mike Jeffries accumulated his net worth primarily through his career as the CEO of Abercrombie & Fitch. He served in this role for over 20 years and was known to have received significant compensation during that time. Jeffries was responsible for transforming Abercrombie & Fitch into a popular lifestyle brand, and his compensation reflected the company’s success.

Post his 2014 retirement from Abercrombie & Fitch, Mike Jeffries has predominantly remained out of the spotlight. However, 2022 saw him re-emerge in the public eye with the Netflix documentary “White Hot,” exploring Abercrombie & Fitch’s journey under his leadership.

Salary

During his tenure at Abercrombie & Fitch, Mike Jeffries held a substantial equity stake in the company. At his peak, he owned approximately 3% of Abercrombie's outstanding shares. If he still retains this 3% stake today, considering the company's current market capitalization of $2 billion, his equity holdings would be valued at around $60 million. Furthermore, in addition to his equity ownership, Jeffries received substantial annual compensation in the form of salary and bonuses. Between 2004 and 2007, he consistently earned an annual salary of $30 million or more. In 2008, he received a remarkable $72 million. Subsequent years saw him earn $36.3 million in 2009, $38.5 million in 2010, $48.1 million in 2011, $8.16 million in 2012, and $2.24 million in 2013. 

Mike Jeffries’ assets

Mike Jeffries, former CEO and chairman of Abercrombie & Fitch, owns a historic Manhattan townhouse in Sutton Square, once inhabited by beauty icon Elizabeth Arden. Jeffries purchased the four-bedroom property in 2006 for nearly $11 million, per WWD. After being listed for $19.5 million initially, the price was later reduced by $2 million. Now, the townhouse is back on the market for $16 million. Jeffries invested in a three-year restoration of the house, overseen by architect Daniel Romualdez. The restoration resulted in features like seven wood-burning fireplaces, paneled windows, elevator access, and access to a communal garden on the East River.

Personal life

Mike Jeffries was born on July 15, 1944, in Oklahoma, and he was raised in Los Angeles. His early exposure to the retail world came through his father who owned a chain of retail stores called Party Time. In 1971, Mike Jeffries married Susan Marie Isabel Hansen and they had one child together. However, in 2013, reports emerged of Jeffries' purported marriage to a woman named Annabel Vartanian although this remains unconfirmed. Around the same time, it was reported that Jeffries was living with a male partner named Matthew Smith. Presently, Jeffries and Smith jointly oversee the Jeffries Family Office.

FAQs

Is Mike Jeffries still married?

Mike Jeffries is not married but he is believed to live with his current partner, Matthew Smith. The pair have reportedly been together for 20 years.

What caused the downfall of Abercrombie?

By 2002, some cracks began to show in Abercrombie's armor when the brand was accused of racism and discrimination over its product assortment.

What is Mike Jeffries' net worth?

Mike Jeffries has an estimated net worth of $300 million.