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Chip Wilson Net Worth

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Chip Wilson net worth

What is Chip Wilson net worth?

Net worth$5.3 billion
Date of birth1955
Occupationbusinessman
Country of OriginCanadian-American

As of 2022, Chip Wilson net worth is valued at $5.3 billion making him one of the richest people in Canada. Dennis “Chip” Wilson is the founder and former CEO of Lululemon, which he started with a single store in Vancouver in 2000.

Chip Wilson Net worth and Biography

Wilson was born in San Diego, California, 1955. Both of his parents were athletes at college, and his father in later life was a physical education teacher. In 1980, he graduated with a bachelor’s degree in economics from the University of Calgary.

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Chip Wilson Career

In 1979, Wilson founded his first retail apparel company, Westbeach Snowboard Ltd, which sold apparel targeted at the surf, skate, and snowboard markets. He sold Westbeach in 1997 and founded Lululemon Athletica Inc in 1998. As of 2016, his personal and business interests are maintained through Hold It All Inc. Read Richest women in Canada

Wilson served as CEO of Lululemon until 2005, when he sold a 48% stake to private equity firms Advent International and Highland Capital Partners. In 2007, an IPO was offered by Lululemon Athletica Inc. on Canadian and US exchanges. In January 2012, Wilson retired from his executive post as chief innovation and branding officer, but remained chairman of the board of directors. In December 2013, he stepped down from his role as non-executive chairman.

In June 2014, Wilson raised concerns that the Lululemon board was not aligned with the core values of product and innovation on which the company was founded, and on which it thrived. Six months after the board’s reconstitution, the company’s share price rose from a June 2014 low of $36.26 to $65.33, a change in market capitalization of over $4 billion.

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In August 2014, Wilson sold 13.85% of his ownership in Lululemon to Advent for approximately $845 million.

In February 2015, Wilson stepped down from Lululemon’s board of directors, saying, “I have achieved the goals I set when I came back, and after careful thought, I believe that now is the right time to step away from the board. I leave behind a new and talented management team and new board construct.”

In December 2015, in an interview with Bloomberg Business, Wilson said, “Three years ago, when I was chairman and Lululemon was worth twice as much as Under Armour, I personally was thinking of buying Under Armour.”

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In June 2016, Wilson published an open letter to shareholders of Lululemon stating that it had “lost its way” and given up market share to Nike and Under Armour, after he was denied the opportunity to speak at the company’s annual meetings. Read Sherry Bryson net worth

In 2016, Wilson created Hold It All, a holding company that includes Wilson Capital, Wilson 5 Foundation, and Low Tide Properties, with a vision to “create possibilities for people to live longer, healthier, more fun lives.

As of 2022, Chip Wilson net worth is valued at $5.3 billion

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Dennis “Chip” Wilson is the founder and former CEO of Lululemon, which he started with a single store in Vancouver in 2000. Read Mandy Rennehan net worth

He took the athleisure company public in 2007 but resigned as chairman in 2013 and removed himself from the business completely in 2015. Although Wilson has no management role at Lululemon, he remains its biggest individual shareholder with an 8% stake.

Chip Wilson House

Located on West Point Grey Road in Kitsilano, Chip Wilson’s waterfront mansion is a two-storey custom-built home sized at an astounding 15,694 square feet, according to Kitsilano.ca.

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Not only is the home of the Lululemon founder the most expensive, but it’s also currently the most expensive house in all of BC – a province filled with luxury homes. Worth $78.8 million, this Vancouver waterfront mansion has an insane price tag.

Chip Wilson sons

Wilson has five sons, two from his first marriage to Nancy. He is married to Shannon Wilson, one of the original designers of Lululemon and co-founder of Kit and Ace, along with his son JJ Wilson. They reside in Vancouver, BC.

Chip Wilson disease

Wilson was diagnosed with a subtype of muscular dystrophy called facioscapulohumeral muscular dystrophy at age 32. He has donated 100 million Canadian dollars towards research.

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Chip Wilson net worth

As of 2022, Chip Wilson net worth is valued at $5.3 billion

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