Ann Herbert Net Worth: Where Is The ex-Nike Vice President Now?

Last year, after the explosive report on Ann Herbert and her sons’ business practices, people started speculating about Ann Herbert’s net worth.  Ann Herbert was a trusted and reputed name in the industry who soon found herself in legal troubles. 2021 was a year of a nightmare for Ann and everyone surrounding the ex-vice-president started questioning Ann Herbert’s net worth. The controversy made buyers frown upon her sons’ and Ann’s business tactics. So, after her exposé, what is Ann Herbert’s net worth now, and how deep in trouble was she in?

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Ann Herbert Resigned From Nike Post Joe Herbert’s Sneaker Reselling Controversy

It was an extraordinary achievement for a teen to make such progress in the world of business. Joe Herbert, Ann Herbert’s 19-year-old son created his massive reselling empire carefully over the last few years. After attaining such a huge success and having Ann Herbert’s net worth, his mother by his back, Joe was confident that he had introduced a massive change in reselling business. However, he made a rookie mistake that did end the business for not only Joe but also ruined his mother’s career forever. 

Ann Herbert
Ann Herbert

When Joe went public to reveal his identity, pretending to be the big brain behind his sneaker reselling business, he forgot that it would become obvious for the industry spy to find out the truth. Quickly it was discovered that Ann Hebert, the Nike North America Vice President, was his mother who helped him throughout the process. The 25-year-old employee of the industry-leading sneaker manufacturer is well involved in the process. 

As a matter of fact, credit to Ann Herbert’s net worth, his son who is just a high school student was accused of using his mother’s credit card for reselling Nike products. Joe purchased over $100,000 USD limited Nike products and sold these under his brand, “West Coast Streetwear”.  

Ann’s husband, Pascal Herbert was also involved in this sneaky business and the company is seen to be registered under Pascal’s name. 

The Backdoored released a statement saying, “The husband of Nike US Ex-VP Ann Hebert, Pascal, filed an LLC in 2018 for “West Coast Streetwear” and then transferred it to his son, Joe, in 2019. No way Ann Hebert did not have any knowledge or involvement in the business. She has even overseen the SNKRS app and releases. #NIKE.”

The shoes were sold over the original retail prices and customers used to buy limited releases from him that were hard to get. The overall multi-million-dollar industry got exposed post-Joe’s moves. The business was shut for obvious reasons and Ann Herbert’s net worth had also witnessed a major hit. Ann was forced to resign from her position post the shameful act that her family has executed. 

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What Is Ann Herbert’s Net Worth? Find Her Financial Details Below

Ann Herbert’s net worth is speculated to be in the millions.  To be precise, Ann Herbert’s net worth varies from $1 million to $1.5 million. The exact details are not available since the former Nike Vice President went into hiding after the massive controversy. As a matter of fact, her son confessed to Bloomberg that he used to make $132,000 purchases every day on his mother’s credit card. So, for sure, Ann Herbert’s net worth was quite a lumpsum even before the money laundering case was disclosed to the public.

Now as per the details given on Glassdoor, the average salary that is stated for the position of vice president at Nike is $519,000 per year. The huge amount indicates that the family was rich enough to support all their luxuries even after giving thousands of dollars to Joe to spend. Plus, the additional income that came from Joe’s sneaker sales contributed to the fortune of the family. However, it can be rightly said Ann Herbert’s net worth was enough to support the entire family and all their expenses.

Coming back to the profit margins of the business, Joe claimed to have earned $200,000 every month just by selling shoes. He used to set the prices at a 10 to 20 percent profit margin on each pair. He used to focus on high coveted releases that were stocked in low numbers and used to price them at a much higher margin. So, the overall net worth of the family has been quite lucrative, hopefully, even after losing all their business and work.

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