Jenny Craig Net Worth 2024

What is Jenny Craig’s Net Worth?

Jenny Craig is an American businesswoman and entrepreneur who has a net worth of $300 million. Jenny Craig is a weight reduction guru who co-founded the corporate Jenny Craig, Inc together with her husband Sidney. She married Sidney Harvey Craig in 1979. The couple initially created their health, diet, and weight reduction program in Australia, ultimately increasing to the United States in 1985. Today the corporate operates over 700 weight reduction facilities all over the world and has greater than 3,000 staff. The system has been endorsed by many celebrities, together with Monica Lewinsky, Kirstie Alley, Valerie Bertinelli, Queen Latifah, Jason Alexander, and Mariah Carey. Sidney Craig died in 2008. Jenny can also be philanthropist who has donated tens of thousands and thousands of {dollars} to charity. After donating $10 million to Fresno State University, the college named its enterprise college the Sid Craig School of Business. After donating $10 million to the University of San Diego, the college constructed a sports activities middle known as the Jenny Craig Pavilion.

IPO and Acquisition

Jenny and Sidney Craig took their firm public in 1991, elevating roughly $74 million. In the mid Nineteen Nineties the corporate was producing $350-400 million in income per 12 months.

In 2002 the corporate was acquired by a non-public fairness agency. In 2006 the corporate was bought to Nestle for $600 million.

Early Life

Jenny was born Genevieve Guidroz on August 7, 1932 in Berwick. She was later raised in New Orleans and began going by the identify Jenny.

Jenny Craig

Jenny and her husband, Sidney, had the thought to create a weight reduction and diet firm within the early Nineteen Eighties. In 1983, they based Jenny Craig, Inc. in Melbourne, Australia and started operations within the United States in 1985. After opening within the U.S., the corporate expanded quickly. They opened 46 areas in 1987 and likewise started operations in 114 different nations.

The weight-reduction plan is structured and options prepackaged meals that assist clients handle energy and portion sizes. It additionally promotes residing an lively way of life and growing higher well being habits general. Clients are linked to private coaches who assist set objectives and obtain them. Over the years, the construction of the plan has modified to swimsuit altering weight-reduction plan tendencies in addition to new information about well being and health.

Throughout the Nineteen Nineties, the scale of the corporate declined, as did its share worth. In 1998, it was solely working in Australia, New Zealand, Canada, Puerto Rico, and the United States and revenues had fallen considerably. After experiencing a collection of monetary troubles associated to weight reduction medicine, worker coaching, and dear leases, the corporate was delisted from the New York Stock Exchange in August of 2001. Its inventory was then traded over-the-counter.

In 2002, the corporate was acquired by MidOcean Partners, a non-public fairness funding agency. In June of 2006, they bought the corporate to Nestlé for $600 million.

Personal Life

Jenny married Sidney Craig in 1979. After the success of their firm, the couple turned beneficiant philanthropists. In 1992, they dedicated $10 million to Fresno State University for its School of Business and Administrative Services. The college was later named the Sid Craig School of Business. In 1996, the couple dedicated a further $10 million to the University of San Diego, a few of which was used to construct the Jenny Craig Pavilion, a recreation and sports activities middle.

Both Jenny and Sidney are all in favour of horses. In 1995, they purchased a thoroughbred horse ranch and breeding operation in Rancho Santa Fe, California. One of their horses completed seventh within the 1992 Kentucky Derby and likewise gained the 1992 Epsom Derby. Another certainly one of their horses gained the Breeders’ Cup Distaff at Gulfstream Park. In 2003, their horse Candy Ride gained six races in a row and set a Del Mar observe document within the one and 1 / 4 mile race.

Craig suffered from an odd well being scare in April of 1995.While napping, she was startled awake. The scare precipitated a medical anomaly much like lockjaw wherein she was unable to open her mouth. She was ultimately in a position to pry her mouth open however the situation worsened over time. It turned very tough for her to eat, drink, and converse and he or she was recognized with temporomandibular joint syndrome. She was referred to a collection of specialists however was unable to discover a answer. In the spring of 1998, a brand new physician found she was affected by atrophying mouth muscular tissues. After a corrective surgical procedure and a 12 months of speech remedy, she was in a position to make a full restoration.

Real Estate

In 1986 Jenny and Sidney purchased a beachfront mansion in Del Mar, California for $3.25 million. That’s the identical as round $8 million at the moment. Jenny sold the home in August 2019 for $22 million. Here is a video tour of Jenny Craig’s former Del Mar mansion:

In 1995 Jenny and Sidney purchased a 228-acre thoroughbred horse ranch in Rancho Santa Fe, California, roughly quarter-hour away from their Del Mar residence. Over the years they’d horses race within the Kentucky Derby and the Breeders’ Cup. In 2018 Jenny bought the ranch to Bill Gates, whose daughter Jennifer is an avid equestrian.