Due to the investigation, Stewart resigned from the board of directors of the New York Stock Exchange in October, just four months after she had joined. The value of the stock dropped markedly after the FDA's announcement. Stewart was under investigation for selling hundreds of shares of ImClone Systems just prior to the Food and Drug Administration's refusal to approve the company's new cancer drug. In June 2002, Stewart again made financial headlines, this time for rumors of insider trading. Stewart herself controls 96 percent of the voting shares in her company and is worth $1.2 billion. had jumped more than 95 percent and raised almost $130 million. At the end of the day, the price of each of 72 million shares in Martha Stewart Living Omnimedia, Inc. On October 19, 1999, America's most famous homemaker returned to Wall Street to see her company through its initial public offering on the New York Stock Exchange.
#MARTA JOBS CAREERS SERIES#
Stewart's lifestyle empire soon grew to include two magazines, a checkout-size recipe publication, a popular cable television show, a syndicated newspaper column, a series of how-to books, a radio show, an Internet site and $763 million in annual retail sales. In 1991, Martha Stewart, Inc., became Martha Stewart Living Omnimedia, Inc., with the release of her magazine, Martha Stewart Living. Her newfound fame took its toll on her personal life, as her marriage to Andy ended in divorce in 1990, after a bitter three-year separation. Stewart expanded into the world of publishing with her first book, Entertaining, which became a bestseller and was followed in quick succession by such publications as Martha Stewart's Quick Cook Menus, Martha Stewart's Hors d'Oeuvres, Martha Stewart's Christmas and Martha Stewart's Wedding Planner. Within a decade, Martha Stewart, Inc., had grown into a $1 million business serving a number of corporate and celebrity clients. She started a catering business in the late 1970s, and soon became known for her gourmet menus and unique, creative presentation. Growing Her Lifestyle BrandĪfter the Stewarts restored the 19th-century farmhouse they had bought, Stewart decided to focus her energy on gourmet cooking, having trained herself by reading Julia Child's Mastering the Art of French Cooking. She worked on Wall Street until 1972, when the family moved to Westport, Connecticut. Six years later, after the birth of their daughter, Alexis, Stewart went to work as a stockbroker for the boutique firm of Monness, Williams, and Sidel. While at Barnard, she met Andy Stewart, a Yale law student, and the two married in 1961. Stewart attended Barnard College in Manhattan, where she earned a degree in European and architectural history in 1962. She worked as a model from the age of 13, appearing in fashion shows as well as television and print advertisements. The second of six children, Stewart grew up in Nutley, New Jersey, a working-class community near New York City. Stewart was born Martha Kostyra, on August 3, 1941, in New Jersey. Stewart resigned her post in 2002, following charges of insider trading and was sentenced to five months in prison. She then expanded her brand to include a magazine and television program, serving as CEO of Martha Stewart Living Omnimedia. Martha Stewart rose to prominence as the author of books on cooking, entertaining and decorating.
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