Mark Stidham is an American co-founder and CEO of a business named LuLaRoe. The company was founded by his wife at their residence, Mark would later become an integral part of the business as the company grew rapidly, with the mark of $2.3 billion in 2017. By 2022 Mark Stidham net worth is estimated to be approximately $50 million.
However, the company suffered a setback due to the numerous lawsuits that it was a part of which has resulted in their image getting tarnished.
But, a docu-series from Amazon Prime Video called LuLaRich is currently airing that gives the viewpoint of Mark and DeAnne in regards to LuLaRoe.
Mark’s father was a construction worker due to which he received an early introduction to the business of construction, which was something he enjoyed as it was a quick way to see outcomes and also enjoyed the physical labor that needed to be performed outdoors.
Mark first had a meeting with DeAnne at the time of their first meeting in 1998, their first meeting taking place in an airplane. Mark was divorced from one child at the time and decided to get married DeAnne. The couple now has fifteen children, with some biological, and they also have adopted children.
Mark Stidham Career
Due to this influence, Mark was a part of the construction industry for the majority the rest of his time. But, his career was to be transformed when one an of the daughters wanted DeAnne who was the wife of Mark to design her the Maxi skirt. Then, DeAnne began receiving multiple requests for the skirts, and within a short periodof time, she had sold over 20,000 skirts.
In the meantime, Mark was still involved in his construction company at the time however due to the enormous growth DeAnne was experiencing and the fact that she was growing, there were times when he’d need to source the fabric she needed for her garments even while working.
When the enormous potential was evident, Mark decided to become completely involved in this venture that would be integrated in 2013 under the name LuLaRoe was named in honor of their daughters. Mark said in an interview that they were growing by 25 percent month-to-month.
LuLaRoe was a company which was able to complete a year’s worth of growth within one month. This meant that they needed to expand their warehouse. They started with their home. They eventually upgraded and then a warehouse that was about 3 acres.
It was remarkable that even this huge warehouse could be filled up with goods after the idea of the company to empower women with the ability to earn money from their homes began to take off, with them selling around 80,000 customers at the time, and their revenues reaching $2.3 billion in 2017.
It is still operating but because of the massive backlash that it experienced throughout the years due to the lawsuits that they were involved in the image of their brand has gone out of business.
Mark Stidham Net Worth
By the year 2022 Mark Stidham has an estimated worth of $50 million. There have been numerous reports that have revealed the lavish lifestyle and wealth belonging to the Stidham family enjoys.
In addition, they have been accused of hiding their wealth through the creation of multiple shell companies to stay out of the debts of creditors.
Prior to the huge amount of income that LuLaRoe began to generate, Mark and DeAnne had been faced with numerous problems in their finances, including taxes. The couple is reported to have an estate in California that is worth $7 million, a luxury car valued at $2.1 million and a private plane.