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By Lauren Barth/June 24, 20203:05 pm EDT/UpdReddit Worth and/” target=”_blank”>Reddit Worth ated: Oct. 12, 202011:47 am EDT
Chances are you think of Chip and Joanna Gaines as soReddit Worth on as you hear the Reddit Worth town Waco, Texas. The Fixer Upper stars have practically transformed the city into a cozy shiplapped destination for locals and tourists alike. It is the home of their mega business, Magnolia, with its many different divisions, and the place where young Chip and Joanna became public figures as the hosts and design experts of their highly rated HGTV show. And, as if their work in real estate, retail, publishing, and media was not enough to fill their piled-high plates, they also have five young children to raise and an expansive farm to tend to (via Business Insider).
So how do they do it all? What’s next? And how much money do they make from all these amazing endeavors? We’re breaking it all down. Read on to find out how much Chip and Joanna Gaines are really worth.
Chip and Joanna Gaines had early financial struggles
Celebrity and fortune didn’t just happen for Chip and Joanna Gaines. Before Chip and Joanna Gaines found fame, they worked hard to accomplish goals and never rested on their laurels, as they were always reaching for the next big thing.
As reported by Business Insider, in their book The Magnolia Story, Joanna recalled an early eye-opening incident when she had to empty out their tiny retail store’s cash register to bail Chip out of jail for accruing $2,500 in unpaid tickets. She described being “on the edge of a real financial struggle,” and vowed to never be put in that position again. This incident became a learning moment. “I think for me, the best lesson is always having a nest egg on the side,” she told Business Insider.
Still, Chip and Joanna have always accepted that some degree of risk is inherent in the pursuit of lasting success. “Even as money started presenting itself to us, we weren’t content with that. … Had we not done that and taken all those chips off the table and put it into a savings account somewhere, tucked our head in the sand like an ostrich — there’s no way we build what we built,” Chip told Money.
Chip and Joanna Gaines started a real estate business in 2009
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Before Fixer Upper and its ripple effect of fame and opportunity, Chip and Joanna Gaines launched a small real estate company in Texas. According to an Instagram post, the couple started Magnolia Realty in 2009, with the goal of “changing the real estate experience, and making it personalized for their clients.” The real estate company, which specializes in helping clients buy and sell farm and ranch properties, has offices in Waco, Austin, San Antonio, and other areas of the state, according to Country Living.
While Magnolia Realty has seen great success and growth throughout the years, there have been periods of internal turmoil. In 2017, Chip was the subject of a $1 million lawsuit. According to USA Today, his former business partners sued him, alleging that they were duped into selling their shares of the company to him for $2,500 each in 2013. They claimed that the transaction happened just a couple of days before Chip and Joanna went public with the upcoming production of Fixer Upper and that they had no knowledge of the television series when they agreed to be bought out. It was a long battle, but, according to Waco Tribune-Herald, the lawsuit was dismissed by a judge in 2020.
Chip and Joanna Gaines reportedly made $30,000 per Fixer Upper episode
Chip and Joanna Gaines found their way to our televisions and won over hearts on their hit HGTV series Fixer Upper. The show chronicled them helping families find diamond-in-the-rough properties and turn them into dream homes. It quickly became the Reddit Worth network’s most popular program and was on for five seasons from 2013 to 2018. According to Money, the Gaines couple reportedly made approximately $30,000 per episode. And while they could have kept churning out charming abodes for adoring at-home fans long after the final episode aired, they decided to shift their focus back to their other budding businesses.
Nevertheless, their small screen careers are not over yet. In 2018, the power couple announced that they would be launching their own television network. According to People, the channel would replace Discovery’s DIY network and would boast lifestyle programming with a focus on wellness, entrepreneurialism, and food, among other topics. In a statement, cited by People, Chip and Joanna said that they were excited “to create and curate content that inspires, encourages, and helps to build bridges across our communities,” adding, “We want honest, authentic programming that brings families together.”
Chip and Joanna Gaines’ Waco marketplace is more than a shopping location… it’s an experience
According to the Magnolia website, in 2003, Chip and Joanna Gaines launched Magnolia Market, a tiny retail store where they sold unique home items. They later decided to close the location to focus on their adorable family. Little did they know that this small original space would become the stepping stone of an iconic retail experience.
In 2014, they reopened their “Little Store on Bosque,” and, shortly thereafter, moved to their Magnolia Silos location. Since then, they have slowly been expanding their veritable retail village of shops, restaurants, food trucks, walking gardens, and more.
In 2019, the couple announced a plan to further renovate and expand the Silos space, to “offer a place that encourages people to see and create beauty in their everyday lives,” as noted on the company’s site. According to the Waco Tribune-Herald, the project will cost $10.4 million and there will be eight new building additions to the sprawling 4.9 acre property, including a relocated church. A Wiffle ball field is also in the works — as Magnolia Market is not only a place to spend money, but it’s also a destination for its 30,000 weekly visitors where they can unwind (via Waco Tribute-Herald).
Chip and Joanna Gaines’ Hearth and Hand collection for Target is wildly successful
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According to Target’s site, Chip and Joanna Gaines launched Hearth & Hand with Magnolia, a home and lifestyle collection, in 2017. With its “modern farmhouse aesthetic,” the line has expanded with options varying from decor and bedding to bath essentials and furniture pieces, per Elle Decor. “For us, this collection [at Target] has always been about providing beautiful, functional pieces that people would feel confident and excited to make a part of their home,” Joanna Gaines told the publication.
Originally, items ranged in price from $0.99 to $129.99, with a majority of items costing around $29.99, as noted by Business Wire. While price range may change with new offerings, the collection still offers customers Magnolia-worthy style for a fraction of the cost. And, as noted by Forbes, home items accounted for approximately 19 percent of Target’s $72 billion sales in 2017 alone. While there are various brands contributing to this number, Hearth & Hand with Magnolia is one of the players responsible for this number.
And yes, Chip is proud of their work with Target. On Instagram, he shared a photo of himself camped out in front of the store waiting for the launch.
Chip and Joanna Gaines have written best-selling books
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Is there anything Chip and Joanna Gaines can’t do? The design duo and real estate moguls are also both best-selling authors. Between them, they have written six books, as of this writing. In addition to her acclaimed book about decorating, Home Body, Joanna Gaines also penned two cookbooks and a children’s book, We Are the Gardeners, a collaboration with her young children, as noted by the Magnolia website.
Chip also wrote a book about his career as a “serial entrepreneur” in the 2017 book Capital Gaines, according to the couple’s retail site. He told Forbes that it’s meant for those “who need a little push to get the ball rolling toward pursuing whatever it is they dream of doing — folks who are looking to work hard and chase their dreams without letting fear creep into the equation.”
Of course, Chip’s book launch was on the heels of selling 1.3 million copies of The Magnolia Story, a book he co-wrote with his wife that was released a year prior. A joint account of their journey in life, love, and business, Joanna said on the Magnolia website, “Getting to tell this story together was like uncovering and reliving half-a-lifetime’s worth of happy memories, failures, and adventures.”
Chip and Joanna Gaines’ “side hustles” are big moneymakers
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Chip and Joanna Gaines certainly do not need any more projects to fill their time or stuff their wallets. Nevertheless, the prolific couple keeps on taking on more side businesses. Joanna Gaines partnered with the brand Kilz to launch her own home paint collection, as reported by Better Homes & Garden. In a blog post, Gaines wrote of the collection, “These shades are the ones I would choose for any house, any day. They’re fresh, inspiring, subtle, soft, versatile and great in any room.”
Additionally, according to Business Insider, in 2016, she collaborated with family-friendly fashion company Matilda Jane Clothing for the first time. Two years later, she partnered with the brand again to launch summer styles for babies, kids, and women — plus a few home items. She said of her second collection in a press release, cited by the publication, “The whole inspiration for this new collection was summer here out on the farm. The long days, the hazy sunsets, kids running around just being kids.”
Chip and Joanna Gaines have three successful restaurants
Getting into the restaurant business can be a risky pursuit — even for celebrities. But Chip and Joanna Gaines’ passion for good food and service has helped to make their culinary endeavors tremendous successes.
Chip and Joanna Gaines have three restaurants in Waco, Texas: The Silos Baking Company, which opened in 2016; Magnolia Table, which launched in 2018; and the Magnolia Press Coffee Company, which opened its doors to the caffeine-crazed public in 2019.
Judging by the wait for a seat at Magnolia Table, the couple’s more traditional sit-down restaurant, Chip and Joanna are doing something right. According to a travel reporter’s review in The Washington Post, diners should plan to arrive early to snag a coveted table. The wait for lunch can be two to three hours long — and dinner is off the table; the restaurant closes for the day at 3 p.m. sharp.
Jennifer Lopez hired Joanna Gaines to decorate her Malibu home
You know you have made it big when an A-list couple hires you for your signature style.
During an appearance on The Ellen DeGeneres Show, superstar singer Jennifer Lopez announced that she and famous beau Alex Rodriguez hired Joanna Gaines to help decorate their new $6.6 million Malibu beach home, which boasts four bedrooms and three bathrooms. Or, more accurately, Rodriguez hired the HGTV star as an anniversary surprise for Lopez. Lopez’s response? “I totally fangirled,” she recalled.
As reported by Architectural Digest, the 4,404-square-foot house “was originally built in 1949 and was previously owned by Entourage actor Jeremy Piven,” who had spent $1.5 million in renovations and added lots of “Southeast Asian touches to the otherwise largely clean, white-lined aesthetics.” Lopez noted that she and Rodriguez have different aesthetics, so who knows how Gaines determined the house’s new design. One thing we predict — shiplap.
Chip and Joanna Gaines are opening a trendy boutique hotel
Chip and Joanna Gaines announced another huge project and impressive undertaking: their plan to renovate a building that is almost 100 years old, and turn it into a trendy boutique hotel in downtown Waco, as reported by House Beautiful. While details have yet to be revealed, as of this writing, Chip and Joanna have shared a few initial ideas, noting they want to include a rooftop terrace, ballroom, and street-level café in the 53,000-square-foot space.
In a post on the Magnolia blog, Joanna wrote about their vision. “Home is a feeling, created by and for the people you love and share your life with; it’s a state of being known and loved just as you are,” she said. Adding, “That is our dream for this hotel,” she explained that the hotel would be an “extension” of their home and that they want each guest to feel a “sense of belonging and community” upon checking in.
Chip and Joanna Gaines’ Magnolia Journal was Meredith Corp.’s most successful magazine launch
Everything Chip and Joanna Gaines touch turns to gold, so it’s no surprise that, according to The Wall Street Journal, the 2016 creation of Magnolia Journal was the “most successful magazine launch” for parent company Meredith Corp. Within two years of its inception, the magazine had already captured a dedicated audience of 5.5 million readers, according to Publishers Daily.
Indeed, flipping through the quarterly lifestyle magazine is akin to peeking inside Joanna’s inspiration diary — and that, of course, is the way it’s intended to be. “My goal in creating this magazine was to connect with readers from all walks of life, to share content so valuable and so meaningful that you hold on to each issue and return to them again and again,” Joanna said on the Magnolia website.
But there’s more to this success story than smart creative direction. Joanna had strong business ideas too. According to Inc., at a time when any other magazines were going out of business, she was insistent about limiting ads, printing on premium paper, and charging $8 for an issue. Doug Olson, president of Meredith Magazines, gives credit to Joanna, telling Inc. that “she’s more hands-on than any partner” they have ever had. Clearly, there’s a lot of things about Joanna Gaines most don’t know.
Chip and Joanna Gaines bought a castle
Chip and Joanna Gaines, two HGTV stars who live insanely lavish lives, are practically American royalty, so it is most fitting that the couple purchased an actual castle.
According to the Waco Tribune-Herald, the design-happy duo bought the 6,700-square-foot, 129-year-old German-style Cottonland Castle from an Oxford University scholar. It was listed for $425,000 — and, yes, the Waco property requires some major TLC, but isn’t that the way Chip and Joanna like it?
While Chip and Joanna’s intention for the castle is not yet known, a spokesperson for Magnolia Realty confirmed the couple’s excitement about restoring it in a statement cited by 13 WTHR. “The property is an iconic piece of Waco’s history, and while specific plans have not yet been determined, one thing is for certain: Their efforts will focus on fully completing the home’s long overdue and well-deserved restoration,” the spokesperson shared. We can’t wait to see how Chip and Joanna make over the property!
Chip and Joanna Gaines are involved in several charities
Chip and Joanna Gaines remain grateful and humble, and their actions speak louder than words. They established the Magnolia Foundation to give back to their community and to help those less fortunate. According to a since-deleted page on their charity’s website, their goal is to “provide restoration to the most vulnerable children and families,” with specific efforts focused on “orphan care, youth development, family housing, and community restoration.”
What’s more, in 2019, the couple donated $1.5 million to St. Jude’s Children’s Hospital. They also built a playhouse for the children of families forced to stay at the St. Jude Target House, a longterm housing option for families of children receiving treatment. According to People, at an event marking the donation and unveiling the playhouse, Chip stated, “As we walked in today, a little boy told us that he’s ‘demo day-ing’ his cancer treatment and that’s pretty much the best thing I’ve ever heard. In our world, demo day marks the end of one chapter and the beginning of a newer, more exciting one.” He continued, “And that’s exactly what we want for you — we’re pulling for each and every one of you.”
Chip and Joanna Gaines are building a multimillion-dollar empire
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Chip and Joanna Gaines are constantly making new deals, and they clearly know what they are doing. Throughout the years — especially since wrapping up Fixer Upper — they have built themselves a veritable empire with media, publishing, real estate, and retail business sectors. So it should come as no big surprise that they have amassed a rather substantial fortune. According to Celebrity Net Worth, the two are worth a combined $20 million.
And with even more projects and budding businesses in the works, we are sure that number is going to grow exponentially year after year. In fact, in 2017, their reported fortune, according to E! News, was just $5 million. So if things keep trending the way they have been for this entrepreneurial pair, they will surely continue taking over Texas, winning fans and making money one Magnolia farmhouse-inspired business at a time.