Steve Madden Net Worth
Steve Madden, founder and CEO of the shoe company Steve Madden Ltd., had a net worth of $120 million. In addition to his net worth, he's earned the pride that comes from heading one of America's most successful companies, a company which has earned "Company of the Year" Award at the Footwear News Achievement Awards in 2006. But Madden hasn't been free of the kind of dirty business that often plagues successful businessmen and CEOs. In 2001, Madden had charges filed against him by the Securities and Exchange Commission, the nature of which was related to the "pump and dump" financial firm Stratton Oakmont. A year later, in 2002, Madden was sentenced to 41 months in prison for stock manipulation and securities fraud, among other charges. During his stint in prison, Madden had to resign as CEO of Steve Madden Ltd., but shortly after he accepted a position with the company as a "creative consultant." This position allowed him to continue drawing a salary of $700,000 a year while in prison! After this prison sentence had been served, Madden had to live in a halfway house for 60 days, in New York City, after which he remained under house confinement for a given period.