Lululemon Founder Chip Wilson Net Worth: The Story Of Lululemon

Chip Wilson, the founder of Lululemon, exited the athleisure giant a decade ago. With remaining stakes, the entrepreneur is still the biggest individual shareholder. But how much of Lululeomn does Wilson still own?

Join us as we break down Lululemon founder Chip Wilson net worth in detail. A genius entrepreneur and investor, he earns millions from real-estate ventures as well. So, without any ado, let’s dive into his financial riches.

A Brief Overview Of Chip Wilson’s Early Life

• Wilson was born on April 25, 1955, as Dennis J. Chip Wilson to parents Dennis Wilson Sr. and Mary Ruth Noel.
• The San Diego, California, native graduated with an economics degree from the University of Calgary in 1980.
• Chip has two younger siblings: a sister named Noel Wilson and a brother named Brett Wilson.
• Before founding Lululemon, he opened his first retail apparel company, Westbeach Snowboard, Ltd, in 1979. Later, he sold the company in 1997.

How Lululemon Got Its Name? The Story Behind Wilson’s Creation

A life-long yoga practitioner himself, Chip Wilson founded  Lululemon Athletico Inc. in 1998. He emphasized creating stylish and functional athletic wear for yoga lovers.

Wilson founded the yoga apparel store that combined performance fabrics with innovative designs. But the story behind how Lululemon got its name is bizarre.

Most people tend to select their brand’s name that is closely tied to their personal identity. However, Wilson chose the name Lululemon because it had too many ‘L’s in it, so the Japanese buyers sounded funny when saying the name. The name otherwise has no meaning.

Lululemon’s first standalone store opened in November 2000, and its initial yoga pants, made with a blend of nylon and Lycra spandex, quickly gained popularity.

Over the years, Lululemon founder Chip Wilson net worth expanded, and so did his company’s product range.

The Rise Of Lululemon: An Instant Hit Among The Yoga Practitioners

Lululemon Athletico became an instant hit among women for its unique designs and emphasis on functionality. Chip Wilson created a brand that not only revolutionized the yoga apparel market but also elevated his status as a billionaire entrepreneur.

In July 2007, Lululemon offered its IPO (Initial Public Offering), raising $327.6 million by selling 18.2 million shares. But, Wilson once revealed that he had no idea that he became a billionaire after his company went public.

Lululemon Founder Chip Wilson Net Worth Is $7 Billion: How He Made Such Wealth?

Did you know? Lululemon, with over $60 billion market cap, ranks as one of the largest (#7) apparel companies in the world. So, people want to find out how much Wilson made from his Lululemon shares.

With a remaining 8% ownership, Lululemon founder Chip Wilson net worth is roughly $7 billion as of January 2024. And why not when you are the biggest individual shareholder in the company?

But we have to consider the fact that despite selling the majority of his stake, Wilson still makes hundreds of millions of dollars from his different business ventures.

Over the years, Chip has sold three-fourths of his stake, but no one has benefited more from the firm’s incredible financial success than him.

During the 2020 pandemic boom, Lululemon’s earnings (revenue) doubled from about $4 billion to over $8 billion. Similarly, Wilson added nearly $4 billion to his net worth because of the rise in the value of Lululemon stock.

However, if he had held onto all of his stock, he’d be worth over $20 billion, nearly triple his current net worth.

Post Lululemon: Why Did Chip Wilson Step Down As Its Chairman?

Everything was going well with Lululemon’s PR until Wilson made some comments (fat-shaming) on women’s bodies. During an interview with Bloomberg in 2013, he mentioned how the company’s pants don’t work for all female body types.

In December 2013, Chip stepped down from his role as non-executive chairman, and so did Christine Day as Lululemon’s CEO. In 2015, he left the board, but the Lululemon founder Chip Wilson net worth reached a peak.

Post Lululemon’s role, Wilson embarked on various ventures. He acted as a mentor to his wife, Shannon Wilson, and son, John James “JJ” Wilson, on their business Kit and Ace.

However, Chip’s collaboration with Chinese sports giant Anta Sports in 2019 proved fruitful as they jointly acquired Amer Sports for $5.2 billion.

ALSO READ: How Did David Cheriton Attain His Wealth?

This Is Why Wilson’s Fortune Is Huge: Investments In Real Estate

Apart from his stakes in Lululemon, Chip has diverse investments in Canadian Real Estate. He owns one of the most expensive residences in British Columbia, a 15,000-square-foot, nearly $75 million waterfront complex.

The luxurious mansion has seven bedrooms, nine bathrooms, and a tennis court on Vancouver’s mansion-lined Point Grey Road. Similarly, Wilson also has an extensive portfolio through Low Tide Properties. It is a high-profile real estate company currently valued at approximately $500 million.

Today, the firm has four apartment buildings, including the 366-unit Met Tower, which it co-owns with Continental Properties and secured $110 million to refinance at the end of last year.

While the real estate investments are fun, Wilson admits his passion is still sportswear, which gets him really motivated. Having financial victories in diverse sectors, Lululemon founder Chip Wilson net worth remains a testament to his futuristic vision.

FAQs

Q: What is Chip Wilson’s net worth as of January 2024?

A: Forbes estimated Wilson’s fortune at $6.8 billion.

Q: What Muscle Disease Does The CEO Of Lululemon Have?

A: Wilson sufferers from an incurable muscle-wasting disease called facioscapulohumeral muscular dystrophy.

Q: Why did Wilson face backlash in early 2024?

A: Chip made comments on Lululemon’s diversity and inclusion strategy as uninspirational.