Paul Marciano's net worth is bonkers, but Guess isn't doing so well
On January 31st, supermodel Kate Upton accused Guess co-founder Paul Marciano of sexual harassment. But who is Marciano, and what is his net worth? Here’s what we know.
Marciano founded Guess with his brothers in 1981. At its peak, Guess brought in $2.5 billion in sales, and Marciano himself was a billionaire. Marciano stepped down as CEO of Guess in 2015, as the company’s share prices and revenue continued to plummet. In the second quarter of 2017, Guess had amassed $574 million in profit, a far cry from the company’s heyday.
And Marciano’s net worth, while high, has taken a hit, too. It is currently about $20 million, according to Net Worth Post.
After Upton accused Marciano, the company’s stock prices dropped about 12 percent. Marciano owns about 14 percent of Guess shares, which decreased in value by about $25 million as a result of the accusations.
Upton first called out Marciano’s behavior in a January 31st tweet expressing her disappointment that he had continued to work as the creative director at Guess.
Upton also shared the tweet on Instagram, writing in the caption that Marciano had “sexually and emotionally” harassed women.
Upton was featured in a 2011 Guess campaign, and later that same year, she appeared in the Sports Illustrated Swimsuit Issue for the first time. Although her social media posts didn’t go into detail against Marciano, she told TMZ later that night, “I can’t wait to tell my story.” Other women have supported Upton’s claims against Marciano.
Since Upton’s posts, other allegations against Marciano have followed. The Blast reported on January 31st that a model named Lindsey Ring filed a lawsuit against Marciano in 2009, alleging that he had sexually assaulted her. The lawsuit was settled out of court, and a company investigation “did not find evidence” of misconduct on the part of Marciano.
As Upton rightfully pointed out, Guess was founded as a women’s clothing company, making it crucial that Guess’s employees work to support women. We applaud Upton for speaking out against sexual misconduct, and we stand by Marciano’s accusers.