Mitch Drexler net worth
What is Mitch Drexler’s Net Worth and Salary?
Millard “Mitch” Drexler is a businessman with a net worth of $200 million. Mickey is probably best known as chairman and CEO of the J. Crew Group from 2003 to 2017. Before that, he was CEO of Gap Inc. during the company’s boom years in the 1990s. He resigned from The Gap in 2002. Finally, from 1999 to 2015, Mickey served on Apple’s board of directors.
Drexler is best known for his work with the Gap brand. He is often credited with the brand’s sudden popularity in the 1990s, and he engineered the brand’s successful advertising campaign, which included the use of Donovan’s “Mellow Yellow” hit in the 1960s. However, Gap’s Drexler era came to an abrupt end in the summer of 2002, when Drexler was fired by Gap founder Donald Fisher. The circumstances surrounding Drexler’s dismissal remain unclear, but he was hired by J Crew shortly after. With the help of J Crew, the brand has risen from an affordable brand to a more upscale brand, a transformation thanks again to Mitch Drexler – who seems capable of turning around a struggling brand.
In 2021, Mickey will become CEO of Alex Mill, the brand founded by his son.
Mickey was an old friend and confidante of Apple CEO Steve Jobs. Jobs admired Drexler’s retail skills and followed his lead in launching the Apple Store. Mitch joined Apple’s board in 1999 and served in 2015. During his tenure on Apple’s board, Mitch sold Apple stock grants worth tens of millions of dollars. However, he is wise to hold these shares. In 2012, for example, he netted $24 million in two transactions. Had he held the shares today, they would have been worth more than $250 million, not counting the annual dividend he would receive.
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real estate
In 2015, Mitch and his wife Peggy sold a property in the Montaukhampton enclave for $50 million.
For a few months in 2017, the Drexlers bought a side-by-side beachfront property on North Bay Road in Miami Beach for $26 million. One of the sellers is Calvin Klein. In August 2021, they purchased a third adjoining property totaling 1.3 acres with views of Biscayne Bay for $16.5 million. Nearby celebrity neighbors include Dwyane Wade and Barry Gibb.
In 2020, the Drexlers sold an Idaho home for $11 million.
