Hollywood actress Reese Witherspoon, has sold the majority stake of her production company, Hello Sunshine, which sees her become the richest actress
Hollywood actress Reese Witherspoon, has sold the majority stake of her production company, Hello Sunshine, which sees her become the richest actress in the world.
The deal means that Reese Witherspoon’s net worth is valued at a staggering $400 million.
According to Forbes, Hello Sunshine is being purchased by a new private equity-backed venture aiming to break into Hollywood’s fast-expanding and almost saturated streaming market.
The majority investment from a not-yet-named media venture is backed by US private equity firm Blackstone. This deal values Witherspoon’s Hello Sunshine at $900 million (R12.9 billion).
The 45 year old took to Instagram to share the major news and reminded her fans of why she started Hello Sunshine and how happy she is about the growth of the company.
“I am committed to continuing to create opportunities for filmmakers, authors, and creators of all backgrounds and experiences to tell their stories in their own way, and reach more audiences who will see that their stories matter. I am deeply proud of the team that got us to this incredible moment, and I’m thrilled to be working with Blackstone, Kevin Mayer, and Tom Staggs to grow a next-generation media company.
”They are committed to helping our mission to empower women and the people who celebrate them. One story at a time, she added in her statement on Instagram.
Witherspoon will retain an ownership stake of at least 18% and will collect an estimated $120 million, after taxes, from the sale of about half of her preexisting roughly 40% stake in the company.
Reese Witherspoon is one of Hollywood’s most bankable stars and can command sky-high pay. She earns at least $1 million an episode for her television work.
