How former Fixer Upper stars Chip and Joanna Gaines built their billiondollar empire.
Business is booming! Former Fixer Upper stars Chip and Joanna Gaines reach a major milestone as they announce yet another project
Chip and Joanna Gaines spilled the beans on July 3: The affable Waco, Texas, home renovators — whose former HGTV series, Fixer Upper, made them household names seemingly overnight in 2013 — just announced they’re adding to their rapidly expanding empire and opening a coffee shop called Magnolia Press. As Joanna explained in an online post, “Chip and I have a history of pulling the trigger on projects that feel right in our gut.”
They also have a history of picking projects that turn into cash cows. Aside from the upcoming coffee shop, Chip, 44, and Joanna, 41, run a magazine, Magnolia Journal; design a collection of housewares for Target; own a bed-and-breakfast and rental properties; operate a sprawling shopping complex; and, in their most lucrative move yet, have signed on with Discovery Communications to launch their own cable channel in 2020. “Getting their own network puts them in the Oprah category,” according to a financial insider, who estimates the pair’s businesses are worth an eye-popping $1 billion. But a Gaines source insists this isn’t about money for the parents of Drake, 14, Ella Rose, 12, Duke, 11, Emmie Kay, 9, and 13-month-old Crew. “Work doesn’t feel like work to Chip and Joanna. It’s more about investing their time in projects they’re passionate about,” says the source. “Even though they’re no longer on Fixer Upper, they love being creative and keeping themselves busy.”
The pair never set out to become fabulously rich or insanely famous. “At the end of the day,” Joanna has said, “what we’re passionate about is creating
homes for families.” Not to mention creating a happy home for their own brood. Most days, Chip and Jo — who walked away from Fixer Upper in 2017 to spend more time with their children — are able to work from the comfort of their sprawling 40acre farm that’s worth millions. “It allows them to maintain a healthy balance between business and spending time with the kids, who will always be the most important thing in their lives,” says the source.
CAPITAL GAINES
That’s not to say they aren’t enjoying the fruits of their labor. Both Chip and Jo came from middleclass families (“there was no plan B” if a financial crisis hit his parents, Chip has said), so they certainly value everything they have. “At the end of the day, Chip knows what it’s like to struggle to make ends meet, so not a moment goes by where he doesn’t appreciate all that he’s achieved. And Joanna feels the same way,” says the source, who notes the couple’s strong Christian faith keeps them grounded. “They haven’t let money and fame go to their heads.”
Which is a good thing, because their profiles — and bank accounts — will only grow with the launch of the network next year and more inevitable projects to follow. Says the source, “There’s no sign of them slowing down anytime soon.” ◼