The woman, the myth, the legend – Reese Witherspoon is one of the richest actresses in Hollywood. With an estimated net worth of $440 million, Forbes named her with the title earlier this year. Starting her acting career at the age of 14, she appeared as a teen actor in ‘The Man in the Moon’ in 1991. Being the overachieving child, she was determined to make it big.
Witherspoon shot to fame for playing ‘Elle Woods’ in ‘Legally Blonde‘, the unapologetic centre of attention. Just like her iconic dialogue she speaks after getting into Harvard law school – ‘What? Like its hard?’ – she really embodied that spirit into her career. While successful actors rally for working hours and do screen tests, Reese Witherspoon pulls the strings from behind the camera.
How Reese Witherspoon became the richest actress
Making her debut in Hollywood with ‘Legally Blonde, Witherspoon went on to earn an Academy Award for her performance in ‘Walk the Line.’ The actor’s other notable appearances include ‘Sweet Home Alabama,’ before she started her producer journey. In 2016, after a series of high-performing movies and earning big dollars, Witherspoon founded the media company ‘Hello Sunshine’.
Production journey
She then became a celebrity producer of shows like Big Little Lies, Little Fires Everywhere, and The Morning Show. This has not only built her million-dollar firm but also allowed her to pursue her entrepreneurial journey behind the camera. As per several reports, the Legally Blonde actress now earns nearly $1 million per episode on The Morning Show. In 2021, Hello Sunshine was sold in a $900 million deal to a Candle Media, backed by private-equity firm Blackstone Group. Witherspoon still retained an 18% stake, with CEO Sarah Harden and her holding significant equity.
Building a brand
Apart from being a major player in Hollywood, be it acting or production, Reese has also earned significant amounts from brand endorsements. In fact, she founded the lifestyle and fashion brand ‘Draper James’. A timeless American style statement with its Southern charm, Witherspoon launched the brand in 2015.
In 2023, Witherspoon announced the sale of a 70% stake of the brand to Consortium Brand Partners. Retaining 30% with her, the deal was estimated to be more than $100 million, as per a Forbes report. She continues to remain a brand partner and board member on Draper James and drives the brand’s strategic positioning. The brand has three flagship retail stores in the US in Nashville, Lexington, and Kentucky, and continues sales online.
Apart from being an excellent businesswoman, she had already won several accolades, including an Oscar, Emmy, and two Golden Globes, and went on to build her empire. She also founded a monthly book club called ‘Reese’s Book Club’, focused on women-centric stories. It not only built a community for women, but also became an influential outlet in the publishing industry and even has its own app.
