When Mike Jeffries stepped down as CEO of Abercrombie & Fitch, some assumed that it was due to the firm’s downturn in gross sales. However, the businessman was finally accused — and indicted on — a number of expenses associated to intercourse trafficking, which allegedly occurred throughout his time working for the vogue model. Even after his departure from the firm, Jeffries’ web value didn’t undergo considerably, however an indictment might change that.

Hollywood Life has the particulars on Jeffries’ present web value and extra about his employment with Abercrombie & Fitch, beneath.

Who Is Mike Jeffries?

Jeffries was the CEO and Chairman of Abercrombie & Fitch from 1992 to 2014. He created the model’s exclusionary “cool” children look. “Before stepping down in 2014, he confronted criticism for main the all-white male advertising picture of the retailer.

Mike Jeffries’ Salary as the Abercrombie & Fitch CEO

According to Celebrity Net Worth, Jeffries earned round $400 million in his wage, fairness and bonuses inside a 10-year interval whereas working for Abercrombie & Fitch. “Upon his departure, A&F agreed to pay Jeffries $1 million yearly for the remainder of his life, along with a $27 million retirement bundle.

However, Abercrombie & Fitch retracted its $1 million annual bonus to Jeffries after intercourse trafficking claims surfaced in late 2023.

What Is Mike Jeffries Worth in 2024?

Jeffries presently has a web value of $300 million, in keeping with Celebrity Net Worth.

Where Is Mike Jeffries Now?

Jeffries and his accomplice, Matthew Smith, have been arrested in West Palm Beach, Florida, in October 2024, in keeping with NBC News. Jeffries’ different affiliate, James Jacobson, was arrested in Wisconsin. The three will seem in federal courtroom in Florida and Wisconsin and will probably be arraigned at a later date in New York, the outlet reported

According to the indictment, Jeffries, Smith and Jacobson have been accused of main an “international sex trafficking and prostitution business” from 2008 to 2015 whereas Jeffries was the CEO of Abercrombie & Fitch. The three allegedly “employed coercive, fraudulent and deceptive tactics in connection with the recruitment, hiring, transportation, obtaining, maintaining, solicitation and payment of the men to engage in commercial sex.”

Jeffries and the two associates allegedly recruited males — lots of whom had modeling aspirations — to have interaction in sexual acts at events. Victims have been required to signal non-disclosure agreements and hand over their wallets and telephones throughout the occasions, per NBC News.