Chip and Joanna Gaines ‘Exploring Options’ in Selling Part of Magnolia Business
HGTV’s Fixer Upper launched Chip and Joanna Gaines into the spotlight. After decades of hard work and dedication, the couple brought their vision to life with Magnolia, and they have a thriving business based in Waco, Texas. It looks like Magnolia may be experiencing some changes, though. Chip and Joanna are reportedly “exploring options.”
Chip and Joanna Gaines are ‘exploring options’ in a potential stake sale of Magnolia
The Fixer Upper couple started Magnolia in 2003, and they had no idea it would become as huge as it is in 2023. Chip and Joanna Gaines have their empire firmly planted in Waco, Texas. But they might be ready to embark on something new. According to KXAN-TV, Chip and Joanna are “exploring options including the sale of a minority stake” in Magnolia.
KXAN-TV reports Bloomberg says Chip and Joanna received interest from “strategic partners” and “financial institutions,” to name a few. This leaves the couple to “evaluating its options.”
While there’s no guarantee a stake sale will occur, this could be big for Chip and Joanna. Magnolia could see some significant changes with the couple potentially open to selling their equity to another company. It’s highly unlikely that Chip and Joanna will sell all of Magnolia, but they may have other projects and businesses in mind for the future.
How much are Chip and Joanna Gaines worth in 2023?
Chip and Joanna Gaines made much money thanks to HGTV’s Fixer Upper. And Magnolia launched them to new financial heights. According to Parade, Chip and Joanna Gaines’ net worth in 2023 is around $50 million. They pull in revenue with the Magnolia network, Magnolia Realty, Joanna’s Hearth & Hand collection with Target, Magnolia Homes, vacation rental properties, and their shops and restaurant at the silos.
Chip and Joanna are living out their dream, but Joanna told Today anchor Hoda Kotb that she feels ready for change. “I sense it’s coming,” Joanna shared in an interview. “I don’t even know what it is, but I do feel like my heart — like instinctively, I know I’ve got to prepare.”
“At 44, I feel like I’m stepping into a new season,” she continued. “Like, I have half my life, it’s been great, but now I want to really be intentional about what I carry with me as I move forward.”
The ‘Fixer Upper’ stars reflected on 20 years of Magnolia
Magnolia means everything to Chip and Joanna Gaines. The couple recently reflected on starting the business 20 years ago in 2003.
“Maybe I’m feeling sentimental because this marks 20 years since we first opened Magnolia. That’s hard for me to believe,” Chip wrote on the Magnolia blog. “In those years, Jo and I have started a family and went from 2 of us to 7. Our business grew by even more. … We’ve come a long way from where we started. Time is roaring past us, just like we’ve all been warned. The kids are growing up and the business went from that Little Shop on Bosque to what it is now. A network, books, a retail business, a place for people to come and visit. We’re so proud of it all. Truly.”
Chip ended the note on the blog by saying he and Joanna are “just getting started,” which means fans should anticipate plenty of change.
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