Skip to main content
  1. Arts & Entertainment
  2. Celebrity

Martha Stewart takes millions out of company despite no profits in years

See also

Martha Stewart isn’t the best when it comes to money, as she has already been jailed once over not being completely honest with her finances, but it seems that she isn’t doing anything to help her own company. According to a new “Radar Online” report released on Nov. 4, Martha has been taking out a generous salary for herself for several years even though her own company hasn’t seen a profit since before the major financial crisis in 2008. In fact, things began falling apart back in 2007 for Martha.

According to the report, Martha Stewart’s empire is actually in full-blown collapse, but that doesn’t seem to affect Martha. She has been generously taking out upwards of $30 million in compensation, even though her Martha Stewart Living Omnimedia laid off 10% of workers this year, and revenue has been down 17% in the third quarter of this year. In fact, this year marks the fifth year in a row where Martha Stewart has not made a profit with her business. Yet, $30 million in compensation seems fair for Martha Stewart.

The report reveals that Martha Stewart is using that $30 million to pay for her personal trainer, her weekend driver and her charitable contributions. Her financial records supposedly reveal that she spent more than $621,000 in security services.

Do you think Martha Stewart is balancing her own budget after her jail term, or do you think she is well-aware of her financial crisis and is doing what she can to balance the business once again?

Comments

Advertisement