When Mike Jeffries stepped down as CEO of Abercrombie & Fitch, some assumed that it was because of the company’s downturn in sales. However, the businessman was eventually accused — and indicted on — multiple charges related to sex trafficking, which allegedly occurred during his time working for the fashion brand. Even after his departure from the company, Jeffries’ net worth didn’t suffer significantly, but an indictment could change that.
Hollywood Life has the details on Jeffries’ current net worth and more about his employment with Abercrombie & Fitch, below.
Who Is Mike Jeffries?
Jeffries was the CEO and Chairman of Abercrombie & Fitch from 1992 to 2014. He created the brand’s exclusionary “cool” kids look. “Before stepping down in 2014, he faced criticism for leading the all-white male marketing image of the retailer.
Mike Jeffries’ Salary as the Abercrombie & Fitch CEO
According to Celebrity Net Worth, Jeffries earned around $400 million in his salary, equity and bonuses within a 10-year period while working for Abercrombie & Fitch. “Upon his departure, A&F agreed to pay Jeffries $1 million annually for the rest of his life, in addition to a $27 million retirement package.
However, Abercrombie & Fitch retracted its $1 million annual bonus to Jeffries after sex trafficking claims surfaced in late 2023.
What Is Mike Jeffries Worth in 2024?
Jeffries currently has a net worth of $300 million, according to Celebrity Net Worth.
Where Is Mike Jeffries Now?
Jeffries and his partner, Matthew Smith, were arrested in West Palm Beach, Florida, in October 2024, according to NBC News. Jeffries’ other associate, James Jacobson, was arrested in Wisconsin. The three will appear in federal court in Florida and Wisconsin and will be arraigned at a later date in New York, the outlet reported
According to the indictment, Jeffries, Smith and Jacobson were accused of leading an “international sex trafficking and prostitution business” from 2008 to 2015 while Jeffries was the CEO of Abercrombie & Fitch. The three allegedly “employed coercive, fraudulent and deceptive tactics in connection with the recruitment, hiring, transportation, obtaining, maintaining, solicitation and payment of the men to engage in commercial sex.”
Jeffries and the two associates allegedly recruited men — many of whom had modeling aspirations — to engage in sexual acts at parties. Victims were required to sign non-disclosure agreements and hand over their wallets and phones during the events, per NBC News.