Prabhaat Morning Trivia: Martha Stewart became a billionaire while she was in prison. Lifestyle media mogul Martha Stewart became a billionaire in 2005 while she was in prison for obstruction of justice. Although it was thought that Stewarts incarceration would damage her brand’s profits, shares of her company, Martha Stewart Living Omnimedia, increased in value by more than 90% during the five months she was in prison. Stewart had transferred her 29 million shares in Martha Stewart Living Omnimedia to her daughter before her sentencing, but still retained ownership and control, increasing her worth to more than $1 billion US Dollars while in prison. After Stewarts release in March 2005, her companys share value dropped by 40%, and she was no longer a billionaire.
Posted on: Tue, 15 Jul 2014 11:15:00 +0000
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