Mary Kay Ash Net Worth At Death – How Did She Get Rich? Exposed!

Mary Kay Ash Net Worth At Death

Mary Kay Ash had an estimated net worth of $500 Million at deathEntrepreneur Mary Kay, founder of Mary Kay Inc., built a profitable business from scratch that created new opportunities for women to achieve financial success. She earned the majority of her income from Mary Kay Cosmetics.

Mary Kay Ash founded Mary Kay Inc., a cosmetics company, in 1963, using incentive programs and other strategies to give her employees the opportunity to benefit from their accomplishments. Mary Kay’s marketing abilities and people skills quickly propelled her company to enormous success.

To calculate the net worth of Mary Kay Ash, subtract all her liabilities from her total assets. Investments, savings, cash deposits, and any equity she has in a house, car, or other similar asset are included in the total assets. All debts, such as loans and personal debt, are included in total liabilities.

Here’s the breakdown of her net worth:

Name: Mary Kay Ash
Net Worth: $500 Million
Monthly Salary: $2 Million+
Annual Income: $20 Million+
Source of Wealth: Founder of Mary Kay Cosmetics

Early Life and Career

Mary Kathlyn Wagner, a business leader and entrepreneur, was born on May 12, 1918, in Hot Wells, Texas. Ash was a trailblazer for women in business, amassing a sizable cosmetics empire. Ash started working as a salesperson for Stanley Home Products in 1939, hosting parties to encourage people to buy household items. She was so effective at selling that she was hired by another company, World Gifts, in 1952. Ash had been with the company for a little more than a decade, but she left in protest after seeing yet another man she had trained get promoted above her and earn a much higher salary.

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Entrepreneurial Venture

Ash set out to start her own business at the age of 45 after having bad experiences in the traditional workplace. In 1963, she started with a $5,000 investment. She purchased skin lotion formulas from the family of a tanner who created the products while working on hides. She opened a small store in Dallas with her son, Richard Rogers, and employed nine salespeople. Mary Kay Inc. currently employs more than 1.6 million salespeople worldwide.

Because of Ash’s business acumen and philosophy, the company made a profit in its first year and sold nearly $1 million in products by the end of its second year. The basic concept was similar to the products she had sold earlier in her career. Her cosmetics were sold at home parties and other special events. But Ash worked hard to distinguish her company by using incentive programs and not having sales territories for her representatives. She lived by the golden rule of “treat others as you would like to be treated,” and her motto was God first, family second, and career third.

Ash desired for everyone in the organization to benefit from their successes. Sales representatives — Ash referred to them as consultants — purchased the products from May Kay at wholesale prices and then sold them to their customers at retail prices. They could also earn commissions on new consultants they hired.

Commercial Success

All of her marketing skills and people skills contributed to the success of Mary Kay Cosmetics. The company went public in 1968, but Ash and her family bought it back in 1985 when the stock price dropped. According to the company’s website, the business has remained successful, with annual sales now exceeding $2.2 billion.

Ash’s upbeat personality was at the heart of this profitable organization. She was known for her affinity for the color pink, which could be found everywhere, from product packaging to the Cadillacs she gave away each year to top-earning consultants. She appeared to genuinely appreciate her consultants and once stated, “People are a company’s greatest asset.”

Her business approach piqued people’s interest. She was respected for her strategies and the outcomes they produced. Mary Kay: The Success Story of America’s Most Dynamic Businesswoman (1981), Mary Kay on People Management (1984), and Mary Kay: You Can Have It All (1985) were all books she wrote about her experiences (1995).

Later Years and Death

While she stepped down as CEO of the company in 1987, Ash remained an active member of the company. In 1996, she established the Mary Kay Charitable Foundation. The foundation funds cancer research as well as efforts to eradicate domestic violence. Lifetime Television named her the most outstanding woman in business of the twentieth century in 2000.

On November 22, 2001, in Dallas, Texas, the cosmetics magnate died. By this point, the company she founded had grown into a global enterprise with representatives in more than 30 countries. She will be remembered for starting a profitable business from the ground up, which opened up new avenues for women to achieve financial success.

Personal Life

Ash married three times and had three children with her first husband, J. Ben Rogers: Richard, Ben, and Marylyn. After Rogers returned from World War II, the couple divorced. Her second marriage to a chemist was short-lived; he died of a heart attack one month after the two married. In 1966, she married her third husband, Mel Ash, and the couple remained together until Mel’s death in 1980.

Success Lessons From Mary Kay Ash

There are Times You Have to Ignore the Experts

Before you start a business, particularly as a beginner, it is advised that you speak with an expert in that field. While this is evidently a wise idea, there are times you have to ignore the ‘experts’ and trust your guts.

The experts are not always right, they are humans; their predictions can fail. Twice, Mary Kay rejected advice from experts and in both cases that turned out to be the right decision.

The first time was when her second husband, George Arthur Hallenbeck, who handled the legal and financial aspect of her soon-to-be-launched business died suddenly of a heart attack just one month before the business was scheduled to open.

The experts (Accountant and Lawyer) had told her to abandon the business, that there was no way she could succeed without him. She ignored them and went ahead, they were wrong, she was right.

The second time was in 1985, when she decided to take her company private again so as to save the legacy on which the company was built. The shareholders had begun to question her motivation packages calling them ‘frivolous’.

Mary Kay knew those ‘frivolous’ gifts were the pillars on which her business stood, therefore she concluded she didn’t need public money enough to jeopardize this legacy. Experts had warned her about taking the move, she ignored them.

In the end she was right and they were wrong.

Motivate Your Workforce

This is so far one of the most important criteria for any successful business. Any entrepreneur who neglects this aspect does so at his/her own peril and that business is basically standing on a knife-edge.

Your staff have the power to make or mar your business; a motivated and well- compensated workforce makes for a successful business. Mary Kay taught her Consultants to regard the business as their own, the same thing that Sam Walton did.

Mary Kay motivated her workforce with words and with gifts, one of her popular incentives were pink Cadillacs which she gave to her top Consultants. Presently, there are over 9,000 women driving around in Mary Kay’s Cadillac and other such cars.

Get Your Priorities Right

Get your priorities right, put God first. The God factor may be getting less popular nowadays, but that doesn’t lessen its significance. It is foolhardy to believe one can achieve a successful, happy life without God.

You may get all the money in the world but money doesn’t equate happiness, you could still be as miserable as a pauper.

Also, regardless the accomplishment that you may be chasing it should never be done at the expense of the family/home. Many who fail at putting God first usually also fail in ranking family appropriately. Money can’t buy happiness; a happy family gives a wonderful life.

How Can I Touch Lives

One important question anyone going into business newly should ask is; In what ways can this business genuinely touch lives? Customer satisfaction and customer experience should matter a lot to you.

Mary Kay usually tells her consultants; “Pretend that every single person you meet has a sign around his or her neck that says ‘Make Me Feel Important’, Not only will you succeed in business, you will succeed in life”. Once you can achieve

Favorite Mary Kay Ash Quotes

Don’t limit yourself. Many people limit themselves to what they think they can do. You can go as far as your mind lets you. What you believe, remember, you can achieve.

Mary Kay Ash

 

No matter how busy you are, you must take time to make the other person feel important.

Mary Kay Ash

 

A company is only as good as the people it keeps.

Mary Kay Ash

 

The speed of the leader is the speed of the gang.

Mary Kay Ash

 

Aerodynamically, the bumble bee shouldn’t be able to fly, but the bumble bee doesn’t know it so it goes on flying anyway.

Mary Kay Ash

 

Everyone wants to be appreciated, so if you appreciate someone, don’t keep it a secret.

Mary Kay Ash

 

Pretend that every single person you meet has a sign around his or her neck that says, ‘Make me feel important.’ Not only will you succeed in sales, you will succeed in life.

Mary Kay Ash

View our larger collection of the best Mary Kay Ash quotes.

Further Reading

Related Lists of Celebrities’ Net Worth

Or, browse all celebrities’ net worth.

How To Become Rich Like Mary Kay Ash?

Mary Kay Ash did not become rich by luck. To become as rich as Mary Kay Ash, you have to work smart.

Successful people become rich because they take advantage of the opportunities that come their way. They are in the right place at the right time and take the right action.

Thanks to the Internet, the world has changed massively in recent years. Nowadays it has become much easier to make money online.

Instead of looking for a 9-5 job and staying in your comfort zone, it’s better if you become your own boss as soon as possible.

You can learn how to build a digital asset that generates cash flow for you while you sleep to grow your wealth quickly.

If you seize this golden opportunity in time, you can become as successful as Mary Kay Ash one day.

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