British businesswoman Jo Malone has made an impressive fortune from her lucrative perfume companies. Her net worth and salary explored.
In October 2023, during the deadly conflict between Palestine and Israel, Josh Willcox, Jo Malone‘s son with her husband, Gary Willcox, was accused of authoring pro-Palestinian content in the wake of Hamas terrorist attacks on Israel, as part of his work at the Undergraduate Palestine Solidarity Committee of Harvard.
Days later, it was revealed that due to Josh’s actions, perfume giant, Jo Malone London, has distanced itself from the company founder.
‘This is an extremely difficult time for everyone and please know we do not condone violence of any kind. At this time, we would like to clarify that Jo Malone the individual has not been affiliated with the Jo Malone London brand since 2006. We continue to lead with kindness,’ the company said in a statement.
Following that, much attention went to Jo Malone, the company’s founder who named it the brand after herself with some asking about her finances. Here’s what we know about her net worth and why she is so rich.
What is Jo Malone’s net worth?
British entrepreneur and perfume guru, Jo Malone (real name: Joanne Lesley Malone) has an estimated current net worth of between $5 million and $10 million. She accrued her fortune from her work as a businesswoman in the perfume industry.
Her company, Jo Loves Limited, has around £3 million in assets, according to a 2020 publication by Companies House.
She also founded Jo Malone London (she no longer has any affiliation with it) which is reportedly worth around £104,516,000.00, as of 2022, per Company Check.
Malone was not born into a rich home making her a self-made millionaire.
Who is Jo Malone?
‘Fragrance Queen’ Jo Malone is a British perfumer and entrepreneur who was born in November 1963, in England, United Kingdom, making her 59.
She grew up in a council house in Bexleyheath, Kent, and has severe dyslexia and left school without any qualifications.
She is famous for founding Jo Malone London, a British lifestyle brand known for its unique fragrance portfolio and luxury products for the bath, body, and home.
Jo sold her company, Jo Malone London, to Estée Lauder for “undisclosed millions” back in 1999.
Jo Malone was awarded a CBE in 2018 in the Queen’s Birthday Honours list for services to the British Economy and the GREAT Britain campaign, which promotes British creativity and industry on the international stage.
She had previously been made an MBE. Jo said she was proud to be among the “amazing” recipients in this year’s Queen’s Birthday Honours.
What company does Jo Malone have?
Jo founded her eponymous British perfume and scented candle brand, Jo Malone London, in 1983.
The brand became a household name following Jo’s appearance on The Oprah Winfrey Show.
She sold the company to Estée Lauder Companies for “undisclosed millions” back in 1999 and continued to work for the brand as creative director until 2006.
She has now launched Jo Loves Limited, which sells similar products.
She had to wait a while after leaving the brand she founded – she was barred from creating a new fragrance or skincare line for five years due to a non-compete agreement.
Jo told the Standard: “I create fragrances based around people, moments in time and places I love. In November 2011, I launched Jo Loves following a five-year break from creating fragrance.
“What I realised about myself, after stepping away from my first business, was that fragrance is not a business to me or my career – it’s my best friend and that’s when I knew I had to start another brand.”
Who’s Jo Malone married to?
Jo is married to Gary Willcox, a former surveyor, and the couple have a son, Josh, together.
In 2016, Jo revealed that she put her career on hold to spend more time with her son – that’s why she left Estée Lauder.
She said: “My only child, Josh, was five, and I wanted to be there each morning when he left for school, for each school pick-up, for each sports day and for each family dinner. What I wanted, I decided, was to invest my time in him, not the business.
“My husband, it turned out, also wasn’t quite so happy any more, though he couldn’t pin down a fundamental cause. So we agreed it was time to leave Estee Lauder. ‘I won’t regret this. I won’t regret this,’ I kept thinking.
“It turned out to be the worst decision I ever made. A lawyer came to our flat to run through the exit terms — a ‘lock-out’ clause that meant I couldn’t work in the industry for five years.
“‘You have to understand what this means,’ he said. ‘No making fragrances. No involvement or association with any cosmetics or beauty business’.”
What happened to Jo Malone?
In 2003 – when she was 37 – Jo was diagnosed with an aggressive form of breast cancer.
After finishing treatment, she was devastated to learn that it had ruined her scent of smell.
She has said: “Why did I start to feel differently? I’d intended to work with Estee Lauder for the rest of my career, but in 2003 I was diagnosed with an aggressive form of breast cancer.
“And when I emerged from the treatment with the all-clear, my old dynamic self failed to snap back into place. Worse still, my sense of smell had been affected by the chemotherapy and made only a stuttering return.”