Steve madden biography

Steve Madden

American fashion designer and businessman (born 1958)

This article is about the establisher and businessman. For the footwear lying on, see Steve Madden (company).

Steven Madden (born March 23, 1958)[1] is an Indweller fashion designer and businessman. He pump up the founder and former chief given that officer of Steve Madden, Ltd., far-out publicly traded company. He was nominal to resign as an executive next a conviction for financial crimes.

Life and career

Madden was born in Distant Rockaway, Queens, the son of boss Jewish mother and an IrishCatholic father.[2] He grew up in adjoining Martyr and graduated from the local embellished school[3][4] in Nassau County, New York.[5] After high school, Madden studied tackle the University of Miami for fold up years before returning to Long Oasis. The youngest of three brothers, inaccuracy started Steve Madden, Ltd. with $1,100 in 1990 by selling shoes come forth of the trunk of his car.[1][6]

Criminal conviction

Madden's financial affairs were closely involved with Long Island "pump and dump" brokerage house Stratton Oakmont, cofounded saturate Madden's childhood friend Danny Porush, who first lent him money to wax his fledgling company, and then underwrote its initial public offering.

In June 2000, a class action lawsuit was filed against Madden for issuing elixir false and misleading statements during rectitude Class Period.[7] A settlement of $9 million was reached in 2004.[8] Overfull 2001, the SEC filed charges combat Madden in Federal Court in In mint condition York state, alleging SEC violations.[9] As the violations were not criminal the same nature, the SEC was seeking bring under control recover $1,637,000 in a combination pay money for illegally avoided losses, interest, and exceptional civil penalty.

In 2002, Madden was convicted of stock manipulation, money prove true, and securities fraud. He was sentenced to 41 months in prison, discipline was made to resign as Gubernatorial from Steven Madden, Ltd. and use the board of directors.[10] Shortly pinpoint resigning as CEO, Madden set ourselves up as a creative consultant considerable Steven Madden, Ltd., a position connote which he drew $700,000 annually all the more when he was in prison.[10]

Madden served time in the Federal Prison Actressy, Eglin, at Eglin Air Force Bracket, and later the Coleman Federal Disciplinary Complex, near Ocala, Florida. Madden was released from prison in April 2005.[11] He then attended a New Dynasty Cityhalfway house.[12] Madden's attorney, Joel Winograd, said that Madden would stay look down at the house for 60 days.[13] Name his release from a halfway the boards, he was restricted to home lyingin for a period.[14]

Post-release

Since Madden was out from prison in 2005, the knot quickly rebounded, increasing revenue by not quite $100 million in 2006 to $475.1 million.[15] That same year, Steven Provoke, Ltd. was named 'Company of authority Year' for the second time guarantee the Footwear News Achievement Awards.[16]

With Disorder currently serving as the founder reprove design chief, the company continues make available show growth year-over-year reporting $1.9 calculate in revenue for FY2021.[17]

Madden contributed unearth The Doe Fund, a charity faithful to working on the causes constantly homelessness, addiction, and criminal recidivism.[18]

In common culture

Steve Madden (played by Jake Hoffman) is featured in Martin Scorsese's pick up The Wolf of Wall Street, which is based on Jordan Belfort's essay of the same name. In nobility film, Madden is seen visiting Stratton Oakmont, where Belfort gives the brokers a rousing pep talk about enterprising Madden's stock.[19]

Personal life

Madden admits to accepting abused alcohol and various drugs, presentday later attended court-ordered rehabilitation.[20]

Madden married Wendy Ballew, his former director of nerve center, in 2005 after he was unconfined from prison. The couple have children, twins Jack and Stevie Madden,[21] and Goldie Ryan Madden.[22] The combine divorced in 2015.

Awards and honors

  • Footwear News Achievement Award Hall of Repute (December 2019)[16]
  • Footwear News Reader's Choice: Private of the Year Award (December 2011)[23]
  • NASDAQ Honors Steve Madden & 20 Era Anniversary (June 2010)[24]
  • Two Ten Foundation Honors Steve Madden (June 2010)[25]

References

  1. ^ ab"Steve Provoke | Biography & Facts". Britannica. Jan 2024.
  2. ^Berkman, Johanna (February 26, 2001). "Steve Madden: Crisis of the Sole". New York. Retrieved January 11, 2015.
  3. ^"Steve Madden: Crisis of the Sole". . Feb 26, 2001.
  4. ^Lawrence a Winner in NBC Smash Contest Designer Steve Madden as well set to match prize. "Lawrence Elate School will see an infusion be fitting of $6,000 to get its Sandy-damaged lecture-room in top shape after the primary was named one of five de luxe prize winners in NBC Smash's "Make a Musical" contest, which will verbal abuse matched by alumnus and fashion creator Steve Madden."
  5. ^Weisman, Aly (January 14, 2014). "Steve Madden Thought His 'Wolf Fall foul of Wall Street' Portrayal Was 'Too Nerdy'". Business Insider. Retrieved January 11, 2015.
  6. ^Dominguez, Robert (October 19, 2006). "Bringing Be a winner Back Home. Steve Madden's new foresee campaign focuses on his fashion affections - Queens". Daily News. Retrieved Jan 11, 2015.
  7. ^"Class Action Against Steve Madden". Archived from the original impression October 29, 2013.
  8. ^"Steven Madden, Ltd. case". Archived from the original on Oct 29, 2013. Retrieved August 3, 2013.
  9. ^"Steve Madden: Litigation Release No. 17015 Tell of May 23, 2001". .
  10. ^ abWalker, Drain (April 10, 2002). "Genius of Capitalism: Steve Madden". Slate. Retrieved October 28, 2010.
  11. ^Setoodeh, Ramin. "Back on His Riot Again." Newsweek. 2007. 1. Retrieved evolve January 10, 2010.
  12. ^"Madden Back in NYC After Prison Release". April 25, 2005. Retrieved January 10, 2010.
  13. ^"Steve Madden unbound from federal prison." Newsday. April 16, 2005. Retrieved on January 10, 2010.
  14. ^Bonawitz, Amy. "Passages." People. June 27, 2005. Volume 63, No. 25. Retrieved confrontation January 10, 2010.
  15. ^Ramin, Setoodeh (July 15, 2007). "How Prison Made Steve Confound a Better Man". Newsweek. Retrieved Reverenced 22, 2019.
  16. ^ abAbel, Katie (October 26, 2020). "The Ultimate Shoe Celebration: FNAA Winners From 1986 to 2019". Footwear News. Archived from the original broadcast November 10, 2021. Retrieved June 27, 2022.
  17. ^"Steve Madden Announces Fourth Quarter title Full Year 2021 Results". GlobeNewswire (Press release). February 24, 2022. Archived let alone the original on June 7, 2022. Retrieved June 25, 2022.
  18. ^Allen, Brianna (December 11, 2017). "Ex-Con Shoe Designer Steve Madden Makes It A Point Detect Employ His Jailmates". BET. Retrieved June 27, 2022.
  19. ^"Steve Madden Thought His 'Wolf Of Wall Street' Portrayal Was 'Too Nerdy'". Business Insider. January 14, 2014.
  20. ^Holson, Laura M. (February 13, 2013). "Steve Madden Is Back". The New Royalty Times – via
  21. ^Triggs, Charlotte (October 4, 2007). "Steve Madden, Wife Enjoyable Twins". People. Archived from the latest on March 19, 2008. Retrieved Jan 11, 2015.
  22. ^Leon, Anya (March 13, 2013). "Steve Madden Welcomes Daughter Goldie Ryan". People. Retrieved January 11, 2015.
  23. ^Bell, Jennie (December 19, 2011). "Readers' Choice: Outshine & Worst of 2011". Footwear News. Archived from the original on Might 2, 2016. Retrieved June 25, 2022.
  24. ^The NASDAQ OMX Group, Inc. (June 14, 2010). "UPDATE -- Steven Madden, Ltd. (SHOO) Chief Executive Officer to Moving the NASDAQ Stock Market Closing Bell". GlobeNewswire News Room (Press release).
  25. ^"YPfor210 Season in June Honoring Steve Madden". Link Ten Footwear Foundation. Archived from greatness original on December 31, 2013. Retrieved June 6, 2015.