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Reese Witherspoon Shuts Down Rumors That She’s Become a Billionaire

Don't call her a billionaire (yet)

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Reese Witherspoon.
Chance Yeh/Getty Images

Is Reese Witherspoon, 47, seeing more than nine digits in her bank account? According to a new statement from the Legally Blonde actress, she hasn't reached billionaire status yet, despite the rumors.

“They’re wrong,” Witherspoon said to NBC News Daily’s Zinhle Essamuah, in response to the theory that she was now a part of the billionaire’s club. “That’s enormously flattering and if I ever touched the bottom of whatever Oprah’s magic golden boots do, I would be so lucky.”

Reese Witherspoon.
Axelle/Bauer-Griffin/Getty Images

However, this speculation didn't come out of nowhere. Just a couple days ago, the Morning Show star sold a majority stake in her clothing company, Draper James. The news was revealed by Forbes, with contributor Pamela N. Danziger writing, “Newly formed Consortium Brand Partners just announced it has acquired a 70% majority ownership stake in Reese Witherspoon’s Draper James fashion brand for an undisclosed amount.”

However, Witherspoon will be staying on with the brand, while also remaining on its board. She founded the company in 2015.

This isn't the only big sale Witherspoon's made as of late. In 2021, she also sold her production company, Hello Sunshine, to Candle Media for a reported $900 million. (Wow.)

Despite these major business moves, it was reported by Forbes only a couple months ago that Witherspoon’s net worth is estimated to be around $440 million (granted, this number was released in June, prior to the Draper James majority stake sale).

So, it looks like Witherspoon won't be joining the likes of Rihanna, Oprah Winfrey and Kim Kardashian quite yet, but she could be part of that billionaires club sooner rather than later.


calfee

Associate Editor, News and Entertainment

Joel is the former Associate Editor for News & Entertainment and has been reporting on all things pop culture for over 5 years. Before working at PureWow, he served as a...