When Mike Jeffries stepped down as CEO of Abercrombie & Fitch, some assumed that it was due to the corporate’s downturn in gross sales. However, the businessman was finally accused — and indicted on — a number of expenses associated to intercourse trafficking, which allegedly occurred throughout his time working for the style model. Even after his departure from the corporate, Jeffries’ web price didn’t endure considerably, however an indictment might change that.
Hollywood Life has the small print on Jeffries’ present web price and extra about his employment with Abercrombie & Fitch, beneath.
Who Is Mike Jeffries?
Jeffries was the CEO and Chairman of Abercrombie & Fitch from 1992 to 2014. He created the model’s exclusionary “cool” children look. “Before stepping down in 2014, he confronted criticism for main the all-white male advertising picture of the retailer.
Mike Jeffries’ Salary because the Abercrombie & Fitch CEO
According to Celebrity Net Worth, Jeffries earned round $400 million in his wage, fairness and bonuses inside a 10-year interval whereas working for Abercrombie & Fitch. “Upon his departure, A&F agreed to pay Jeffries $1 million yearly for the remainder of his life, along with a $27 million retirement bundle.
However, Abercrombie & Fitch retracted its $1 million annual bonus to Jeffries after intercourse trafficking claims surfaced in late 2023.
What Is Mike Jeffries Worth in 2024?
Jeffries at the moment has a web price of $300 million, in response to Celebrity Net Worth.
Where Is Mike Jeffries Now?
Jeffries and his associate, Matthew Smith, had been arrested in West Palm Beach, Florida, in October 2024, in response to NBC News. Jeffries’ different affiliate, James Jacobson, was arrested in Wisconsin. The three will seem in federal court docket in Florida and Wisconsin and can be arraigned at a later date in New York, the outlet reported
According to the indictment, Jeffries, Smith and Jacobson had been accused of main an “worldwide intercourse trafficking and prostitution enterprise” from 2008 to 2015 whereas Jeffries was the CEO of Abercrombie & Fitch. The three allegedly “employed coercive, fraudulent and misleading techniques in reference to the recruitment, hiring, transportation, acquiring, sustaining, solicitation and fee of the lads to have interaction in business intercourse.”
Jeffries and the 2 associates allegedly recruited males — a lot of whom had modeling aspirations — to have interaction in sexual acts at events. Victims had been required to signal non-disclosure agreements and hand over their wallets and telephones through the occasions, per NBC News.