Chip and Joanna Gaines are a married couple and reality TV stars who rose to fame after starring in HGTV’s Fixer Upper. They started out by turning their home improvement business into an empire and are now household names in the home renovation industry. The real estate couple have a combined net worth of $50 million in 2023.
Background
Chip was born in Albuquerque, New Mexico, on November 14, 1974. Joanna was born less than four years later, on April 19, 1978 and was raised in Wichita, Kansas. She is half Korean, one-quarter German and one-quarter Lebanese.
Despite the fact they both went to Baylor University, they never crossed paths as students. Joanna was studying communications with the hopes of becoming a journalist while Chips graduated with a degree in marketing and business administration.
The pair met for the first time in the mechanic shop of Joanna’s father a few years after they graduated. The two got to know each in the shop’s waiting area, and they started dating soon after. Chip and Joanna got married in May 2003.
Magnolia Empire
Within a month of getting married, the newlyweds had flipped their first house. Little did they know, it would be the first of many. In 2003, they founded Magnolia Homes, a home design business. Success didn’t come easily and struggled for years.
When the housing crash hit in 2008, it took them four years to bounce back. They later expanded the business by launching Magnolia Market, a retail outlet.
The Magnolia brand ultimately became an empire. With it, they developed Magnolia Realty, Magnolia Network, Magnolia Table, and more. They don’t own Magnolia Bakery, but they were the ones who launched the Silos Baking Company in 2016.
Fixer Upper
Chip and Joanna got the opportunity to star in Fixer Upper on HGTV after being spotted by producers from HGTV. They showcased their expertise on the reality TV program, and it was an instant hit.
This helped the Gaines couple to further expand their business ventures. They published the bestselling book, The Magnolia Story, and introduced the Magnolia Journal. Fixer Upper was canceled after five seasons in 2017, only to be revived by Discovery in 2021.
“Fixer Upper: Welcome Home” premiered on the Magnolia Network. Chip and Joanna brought back familiar faces like the fan-favorite Saul “Shorty” Sanchez and original producer, Michael Matsumoto, who also continues to do business with the couple. Season one finished airing in early August 2021 and season two hasn’t been renewed yet.
Net Worth and Earnings
On their HGTV show, Chip and Joanna reportedly earned an average of $30,000 per house remodel. This doesn’t include the fee they get from the network itself. The Magnolia brand is their main source of wealth and the publicity from reality TV is a big driver of sales.
The business duo has a slew of retail, restaurant, and media businesses in Texas. They made book deals and product lines. They also decided to turn Magnolia Market into an online store. This is why Chip and Joanna Gaines have a combined net worth of $50 million.
Personal Life
Like their entrepreneurial ventures, Chip and Joanna’s marriage is going strong. They are parents to five children: Drake, Ella Rose, Duke, Emmie Kay, and Crew. Despite having high-profile parents, the Gaines kids have remained out of the spotlight for many years.
