Mickey Drexler Net Worth 2024

What is Mickey Drexler’s net worth and wage?

Millard “Mickey” Drexler is an American businessman who has a net worth of $200 million. In the Nineteen Nineties Mickey was the CEO of Gap Inc., at a time when the corporate was peaking as a model. He stepped down from The Gap in 2002. Mickey then served because the chairman and CEO of J. Crew Group from 2003 to 2017. From 1999 to 2015 Mickey Drexler was on the board of Apple Inc. In 2021 Mickey turned the CEO of Alex Mill, a model that was launched by his son.

Drexler’s largest declare to fame comes from his work on the Gap model. He is usually credited with that label’s sudden rise to reputation throughout the Nineteen Nineties, having masterminded the model’s profitable promoting marketing campaign that amongst different issues made use of the Sixties pop hit by Donovan “Mellow Yellow.” However, the Drexler period at Gap got here to an abrupt finish in the summertime of 2002, when Drexler was fired by Gap founder Donald Fisher. The circumstances of Drexler’s firing stay unclear, however he was employed by J Crew quickly after. With J Crew, the model rose from a reasonably priced model to a way more upscale affair, a transition that’s once more being credited to Mickey Drexler – a person that appears to have a present for turning struggling manufacturers round.

Apple Board

Mickey was a longtime pal and confidante of Apple’s CEO Steve Jobs. Jobs admired Drexler’s retail abilities and adopted his leads when launching the Apple Store. Mickey joined Apple’s board in 1999 and served by way of 2015. During his time on the Apple board, Mickey offered tens of hundreds of thousands of {dollars} price of Apple share grants. He would have been smart to carry on to those shares, nevertheless. For instance, in 2012 he netted $24 million from two transactions. Had he held on to these shares to at the moment, they’d be price greater than $250 million, not together with the annual dividends he would have obtained as properly.

Early Life and Education

Mickey Drexler was born as Millard S. Drexler on August 17, 1944 within the Bronx borough of New York City to Jewish mother and father. When he was 16, his mom handed away. For his training, Drexler went to the Bronx High School of Science, after which to the City College of the City University of New York. He then transferred to the University of Buffalo, from which he earned his Bachelor of Science. Drexler went on to acquire his Master of Business Administration from Boston University in 1968.

Career Beginnings

In the mid-70s, Drexler served as a vp of merchandising on the division retailer Abraham & Straus in Brooklyn, New York City. He subsequently labored in govt positions on the shops Bloomingdale’s, Ann Taylor, and Macy’s.

Gap

In 1983, Drexler joined the clothes and accessories retailer Gap. He was named the corporate’s president in 1987, and have become its CEO in 1995. Before Drexler joined the corporate, Gap was a comparatively diminutive chain; after he turned concerned, the corporate skilled a meteoric rise in reputation. Under Drexler, Gap transitioned to promoting private-label manufacturers, and have become a considerable a part of the favored tradition through its collection of high-priced tv commercials. Drexler additionally based Gap Kids and the sister chain Old Navy throughout his tenure.

In 2002, Gap had change into burdened by over-expansion and a 29-month gross sales hunch; furthermore, Drexler’s administration fashion had been creating main tensions with the corporate’s founders, Donald and Doris Fisher. As a consequence, Drexler was pressured to resign after 19 years of service at Gap. He was succeeded as CEO by Paul Pressler.

J.Crew

Following his resignation from Gap, Drexler was employed because the CEO and chairman of one other clothes and niknaks retailer, J.Crew. Applying related enterprise methods that he utilized at Gap, Drexler labored to revamp J.Crew into an upscale boutique model. In 2017, some 14 years after he started on the firm, Drexler stepped down as CEO because of J.Crew’s a number of years of declining gross sales. A few years later, in early 2019, he resigned as the corporate’s chairman. However, Drexler remained at J.Crew as a strategic advisor to the board and the CEO.

Later Ventures

After leaving J.Crew, Drexler based his personal agency, Drexler Ventures, which invests in and advises burgeoning manufacturers. Through the corporate, he has invested within the athletic attire model Outdoor Voices and the web eyeglass and call lens retailer Warby Parker. Drexler is the chairman of the previous firm, and sits on the board of the latter.

Among his different ventures, Drexler serves because the CEO of Alex Mill, a clothes model launched by his son Alex in 2012. The firm sells garments and equipment for women and men.

Beyond his enterprise ventures, Drexler has made some appearances in common media. In 2013, he made a cameo look on the AMC tv crime drama collection “Breaking Bad,” enjoying a buyer at a automobile wash within the fifth-season episode “Confessions.” According to Drexler, his scene took 9 takes to get proper.

Personal Life

In 1969, Drexler married creator, psychologist, and documentary filmmaker Peggy. Together, they’ve a son named Alex.

Real Estate

In 2015 Mickey and his spouse Peggy offered a property within the Hamptons enclave of Montauk for $50 million. This house had as soon as been owned by Andy Warhol. In 2018 they offered a special Hamptons house for $15 million.

In New York City, the Drexlers personal an house in Tribeca and condominium on Park Avenue.

Over a number of months in 2017 the Drexlers paid $26 million for side-by-side waterfront properties on North Bay Road in Miami Beach. It boasts six bedrooms and seven-and-a-half bogs, plus a pool and a dock. One of the sellers was Calvin Klein. In August 2021 they paid $16.5 million for a 3rd adjoining property, giving them a complete of 1.3 acres with views of Biscayne Bay. Nearby movie star neighbors embrace Dwyane Wade and Barry Gibb.

Previously, Drexler and his spouse lived in a 5,500-square-foot, five-bedroom mansion in Idaho’s Wood River Valley. The alpine residence, designed by famed architect Thierry Despont in 2000, is sheathed in Montana moss rock and stands near 60-feet excessive. In late 2019, Drexler listed the house for $10.9 million. The offered it in 2020 for proper round their asking worth.