Few figures in fashion and retail have left as lasting an imprint as Mike Jeffries. Jeffries has been a key figure in the industry for decades, most notably as the former CEO of Abercrombie & Fitch. Along with his contributions to fashion, there has been much speculation regarding Mike Jeffries’ net worth, which has piqued the interest of both business enthusiasts and curious spectators.
In this article, we will go on a journey to unearth Mike Jeffries’ financial empire and investigate the factors that have contributed to his large net worth.
Mike Jeffries Net Worth
Before leaving Abercrombie & Fitch in 2014, Jeffries was regarded as one of America’s highest-paid CEOs. Jeffries has an estimated net worth of $300 million, most of which he earned while working for the well-known retailer.
At the height of his career, the former CEO held 3% of the outstanding shares of Abercrombie. At the peak of the company’s stock price in late 2007, his 3% ownership was allegedly worth almost $100 million.
If Jeffries still owned the 3% investment today, his portion would be worth about $60 million based on the $2 billion market price of the business. Between 2004 and 2007, Jeffries allegedly made $30 million or more per year.
In 2008, he received $72 million, in 2009, $36.3 million, in 2011, $48.1 million, and in 2012, $8.16 million. In 2013, the year before he resigned as the brand’s CEO, he made $2.24 million. Between 2004 and 2014, Jeffries was paid about $400 million in salary and bonuses.
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The Allegations Raised Against Mike Jeffries
Several men accused Jeffries of exploitation during a two-year BBC investigation for the ‘Panorama’ special episode ‘The Abercrombie Guys: The Dark Side of Cool’.
Several of the men hired by the previous CEO said that they were first misled about the events or were not informed that s*x would be expected as part of their job. Some stated that they were aware that the events would involve s*x but had no idea what was expected of them.
Some of the men claimed Jeffries and Smith would engage in s*xual activity with four men or “direct” them to have s*x with each other at the events. They claimed that the event staff would afterward present them with envelopes containing thousands of dollars in cash.
Except for one man, everyone apparently told the BBC that the experience had injured them. Barrett Pall, a former model, told the BBC, “My feeling of being in that room was: an animal. I was not a human to any of these people.”
“I was a body. I was being presented to someone, to do what they wanted with,” he claimed. “What happened to me changed my life – and not for the better,” Pall explained before bursting into tears in front of the camera.
The alleged victims stated that the middleman who hired them missed part of his nose and disguised it with a snakeskin patch.
Later, the BBC identified him as James Jacobson. David Bradberry, 23, said Jacobson was introduced to him by an agency in 2010 and described him as the gatekeeper to “the owners” of A&F.
Bradberry added that there was no initial mention of s*x. He recalled that after meeting Jacobson, the latter requested that he be photographed by A&F’s official photographer.
Bradberry went on to say, “Jim made it clear to me that unless I let him perform oral s*x on me, that I would not be meeting with Abercrombie & Fitch or Mike Jeffries.”
“I was paralyzed. It was like he was selling fame. And the price was compliance,” he explained.
Has Mike Jeffries Responded to the Accusations?
As of the time of writing, Jeffries and Smith have not responded to the accusations. Through his attorney, Jacobson responded to the allegations and gave a statement.
He stated that he was upset by claims that “any coercive, deceptive or forceful behavior on my part” and added that he had “no knowledge of any such conduct by others.”
He added additional detail, “Any encounter I had was fully consensual. Everyone I came into contact with who attended these events went in with their eyes wide open.”
According to a statement to the BBC, Abercrombie & Fitch was “appalled and disgusted” by Jeffries’ alleged actions. It was stated that the business has become “the values-driven organization we are today” under the new management and that there is “zero tolerance for abuse, harassment, or discrimination of any kind.”
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On Monday, October 2 at 9 p.m., BBC One showed “The Abercrombie Guys: The Dark Side of Cool,” which is still accessible on BBC iPlayer.
Is Mike Jeffries Married?
Mike got married to Susan Marie Isabel Hansen in 1971. The couple had a child together. He allegedly wed Annabel Vartanian in September 2013, albeit this is unconfirmed. In the same period as this alleged union, Mike was apparently cohabitating with Matthew Smith, a male companion. Today, Mike and Matthew work together to oversee the Jeffries Family Office.
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