Over the past decade, Gwyneth Paltrow’s wealth has been on a speedy upward trend with her net worth currently standing at about $100million, and her business is suspected to be worth more. Paltrow and Goop, her company, are now the subjects of The Goop Lab, a Netflix documentary.
However, the value of Paltrow’s wealth seems to vary based on the source you are referencing. The one hundred million dollars net worth is a report of celebritynetworth.com, while Money.com valued her at $140million in 2014.
In the same year, 2014, Forbes released an estimate which valued Paltrow at $19 million. Her net worth seems to be evaluated separately from the company. The Santa Monica based enterprise was in 2018 valued at $250million, according to a New York Times report. However, its net worth increased in the same year after a $50 million investment was added.
The company hosts summits with tickets ranging between $500 and $4,500. Customers taking the upper limit tickets get to stay at Casa Del Mar and enjoy a dinner with Paltrow twice.
The company’s name, ‘Goop’, represents Paltrow’s name initials. The ‘oo’ between the initials were motivated by the fact that most successful internet companies have them in their names. According to the New York Times, Goop recorded an interesting phenomenon when it comes to its trend of growth. Its popularity grew amid the increased criticism of websites and mainstream experts.
The 2008 company began as a Paltrow’s Newsletter, aimed at recommending nutritional and health products, and had close to 150,000 subscribers a year down the line in 2009.
Paltrow decided to move her company into e-commerce in 2014, and later in 2017 launched it as Goop Wellness. Its revenue grew steadily during the year, moving up from $15 million to $60 million. The following year was no off-peak for Goop, with the company receiving additional funding to the tune of $82 million, which saw it triple its revenue.
However, the company was involved in a tug of war when Truth in Advertising filed a suit against the company, citing false claims in its product advertisement.
The false marketing claims saw the company pay penalties to the tune of $145 million. Customers, who had bought the products in question, including the Jade egg and rose quartz egg, were also reimbursed. The decision was arrived at the office of the Orange County District Attorney. Paltrow and Chris Martin, her ex-husband, had in 2007 bought a $5.17 million Tribeca penthouse. The 3,892 square home has lilac and white decorations after its renovations. The two who allegedly remain close despite divorcing in 2014, tried to dispose it at $14.25 million, although reports indicate they finally sold it at $10.75 million in 2017.