Steve Madden

Madden was born in Far Rockaway, Queens, the son of a Jewish mother and an Irish Catholic father.{{cite journal |last=Berkman |first=Johanna |date=February 26, 2001 |title=Steve Madden: Crisis of the Sole |url=http://nymag.com/nymetro/news/bizfinance/biz/features/4406/index1.html |journal=New York |access-date=January 11, 2015 }} He grew up in adjoining Lawrence and graduated from the local high school{{cite web|url=http://nymag.com/nymetro/news/bizfinance/biz/features/4406/index1.html|title=Steve Madden: Crisis of the Sole|work=NYMag.com|date=February 26, 2001 }}[http://patch.com/new-york/fivetowns/lawrence-a-winner-in-nbc-smash-contest Lawrence a Winner in NBC Smash Contest Designer Steve Madden also set to match prize.] "Lawrence High School will see an infusion of $6,000 to get its Sandy-damaged auditorium in top shape after the school was named one of five grand prize winners in NBC Smash's "Make a Musical" contest, which will be matched by alumnus and fashion designer Steve Madden." in Nassau County, New York.{{cite web |url=http://www.businessinsider.com/steve-madden-thought-his-wolf-of-wall-street-portrayal-was-too-nerdy-2014-1 |title=Steve Madden Thought His 'Wolf Of Wall Street' Portrayal Was 'Too Nerdy' |last1=Weisman |first1=Aly |date=January 14, 2014 |website=Business Insider |access-date=January 11, 2015 }} After high school, Madden studied at the University of Miami for two years before returning to Long Island. The youngest of three brothers, he started Steve Madden, Ltd. with $1,100 in 1990 by selling shoes out of the trunk of his car.{{Cite web|url=https://www.britannica.com/biography/Steve-Madden|title=Steve Madden | Biography & Facts|website=Britannica|date=January 2024 }}{{cite journal |last=Dominguez |first=Robert |date=October 19, 2006 |title=Bringing It Back Home. Steve Madden's new ad campaign focuses on his fashion center - Queens |url=http://www.nydailynews.com/archives/lifestyle/bringing-back-home-steve-madden-new-ad-campaign-focuses-fashion-center-queens-article-1.649141 |journal=Daily News |access-date=January 11, 2015 |quote=He grew up in Lawrence, L.I., where he worked in shoe stores from his high-school days until he started his own business in 1990, at 33, with an investment of just $1,100.}}

Madden's financial affairs were closely entangled with Long Island "pump and dump" brokerage house Stratton Oakmont, cofounded by Madden's childhood friend Danny Porush, who first lent him money to expand his fledgling company, and then underwrote its initial public offering.

In June 2000, a class action lawsuit was filed against Madden for issuing materially false and misleading statements during the Class Period.{{Cite web|url=http://www.thefreelibrary.com/Deadlines+for+Filing+Lead+Plaintiff+Motions+Fast+Approaching,+Says...-a063702233|archive-url=https://web.archive.org/web/20131029195816/http://www.thefreelibrary.com/Deadlines+for+Filing+Lead+Plaintiff+Motions+Fast+Approaching,+Says...-a063702233|url-status=dead|archive-date=October 29, 2013|title=Class Action Against Steve Madden}} A settlement of $9 million was reached in 2004.{{cite web|title=Steven Madden, Ltd. case|url=http://securities.stanford.edu/1014/SHOO00/|access-date=August 3, 2013|archive-url=https://web.archive.org/web/20131029185143/http://securities.stanford.edu/1014/SHOO00/|archive-date=October 29, 2013|url-status = dead}}

In 2001, the SEC filed charges against Madden in Federal Court in New York state, alleging SEC violations.{{cite web|url=https://www.sec.gov/litigation/litreleases/lr17015.htm|title=Steve Madden: Litigation Release No. 17015 / May 23, 2001|work=sec.gov}} Because the violations were not criminal in nature, the SEC was seeking to recover $1,637,000 in a combination of illegally avoided losses, interest, and a civil penalty.

In 2002, Madden was convicted of stock manipulation, money laundering, and securities fraud. He was sentenced to 41 months in prison, and was made to resign as CEO from Steven Madden, Ltd. and from the board of directors.{{cite journal|last=Walker|first=Rob|title=Genius of Capitalism: Steve Madden|journal=Slate|date=April 10, 2002|url=http://www.slate.com/id/2064214|access-date=October 28, 2010}} Shortly after resigning as CEO, Madden set himself up as a creative consultant with Steven Madden, Ltd., a position for which he drew $700,000 annually even when he was in prison.

Madden served time in the Federal Prison Camp, Eglin, at Eglin Air Force Base, and later the Coleman Federal Correctional Complex, near Ocala, Florida. Madden was released from prison in April 2005.Setoodeh, Ramin. "Back on His Feet Again." Newsweek. 2007. [http://www.newsweek.com/id/33221 1]. Retrieved on January 10, 2010. He then attended a New York City halfway house.{{Cite web|url=http://www.encyclopedia.com/doc/1G1-131941833.html|title= Madden Back in NYC After Prison Release|publisher=footwearnews.com|date= April 25, 2005|access-date= January 10, 2010}} Madden's attorney, Joel Winograd, said that Madden would stay at the house for 60 days."[http://www.accessmylibrary.com/article-1G1-131599616/steve-madden-released-federal.html Steve Madden released from federal prison.]" Newsday. April 16, 2005. Retrieved on January 10, 2010. After his release from a halfway house, he was restricted to home confinement for a period.Bonawitz, Amy. "[http://www.people.com/people/archive/article/0,,20148011,00.html Passages]." People. June 27, 2005. Volume 63, No. 25. Retrieved on January 10, 2010.

Since Madden was released from prison in 2005, the company quickly rebounded, increasing revenue by nearly $100 million in 2006 to $475.1 million.{{cite web|url=http://www.newsweek.com/how-prison-made-steve-madden-better-man-104059|last1=Ramin|first1=Setoodeh|date=July 15, 2007|title=How Prison Made Steve Madden a Better Man|publisher=Newsweek|access-date=August 22, 2019}} That same year, Steven Madden, Ltd. was named 'Company of the Year' for the second time at the Footwear News Achievement Awards.{{Cite web |last=Abel |first=Katie|date=October 26, 2020 |title=The Ultimate Shoe Celebration: FNAA Winners From 1986 to 2019 |url=https://footwearnews.com/2020/influencers/power-players/footwear-news-achievement-awards-fnaa-past-winners-1203069635/ |url-status=live |archive-url=https://web.archive.org/web/20211110084138/https://footwearnews.com/2020/influencers/power-players/footwear-news-achievement-awards-fnaa-past-winners-1203069635/ |archive-date=November 10, 2021 |access-date=June 27, 2022 |website=Footwear News |language=en-US}}

With Madden currently serving as the founder and design chief, the company continues to show growth year-over-year reporting $1.9 billion in revenue for FY2021.{{Cite press release|date=February 24, 2022|title=Steve Madden Announces Fourth Quarter and Full Year 2021 Results|url=https://www.globenewswire.com/news-release/2022/02/24/2391202/0/en/Steve-Madden-Announces-Fourth-Quarter-and-Full-Year-2021-Results.html|url-status=live|archive-url=https://web.archive.org/web/20220607025222/https://www.globenewswire.com/news-release/2022/02/24/2391202/0/en/Steve-Madden-Announces-Fourth-Quarter-and-Full-Year-2021-Results.html|archive-date=June 7, 2022|access-date=June 25, 2022|website=GlobeNewswire|language=en}}

Madden contributed to The Doe Fund, a charity devoted to working on the causes of homelessness, addiction, and criminal recidivism.{{Cite web |last=Allen |first=Brianna |date=December 11, 2017 |title=Ex-Con Shoe Designer Steve Madden Makes It A Point To Employ His Jailmates |url=https://www.bet.com/article/06nvek/shoe-designer-steve-madden-makes-a-point-to-employ-jailmates |access-date=June 27, 2022 |website=BET |language=en}}

Steve Madden (played by Jake Hoffman) is featured in Martin Scorsese's film The Wolf of Wall Street, which is based on Jordan Belfort's memoir of the same name. In the film, Madden is seen visiting Stratton Oakmont, where Belfort gives the brokers a rousing pep talk about pushing Madden's stock.{{cite web|url=http://www.businessinsider.com/steve-madden-thought-his-wolf-of-wall-street-portrayal-was-too-nerdy-2014-1|title=Steve Madden Thought His 'Wolf Of Wall Street' Portrayal Was 'Too Nerdy'|date=January 14, 2014|work=Business Insider}}

Madden admits to having abused alcohol and various drugs, and later attended court-ordered rehabilitation.{{Cite news|url=https://www.nytimes.com/2013/02/14/fashion/steve-madden-is-back.html|title=Steve Madden Is Back|first=Laura M.|last=Holson|work=The New York Times |date=February 13, 2013|via=NYTimes.com}}

Madden married Wendy Ballew, his former director of operations, in 2005 after he was released from prison. The couple have three children, twins Jack and Stevie Madden,{{cite journal |last=Triggs |first=Charlotte |date=October 4, 2007 |title=Steve Madden, Wife Welcome Twins |url=http://www.people.com/people/article/0,,20139835,00.html |archive-url=https://web.archive.org/web/20080319085136/http://www.people.com/people/article/0,,20139835,00.html |url-status=dead |archive-date=March 19, 2008 |journal=People |access-date=January 11, 2015 }} and Goldie Ryan Madden.{{cite journal |last=Leon |first=Anya|date=March 13, 2013 |title=Steve Madden Welcomes Daughter Goldie Ryan |url=http://celebritybabies.people.com/2013/03/13/steve-madden-welcomes-daughter-goldie-ryan/ |journal=People |access-date=January 11, 2015 }} The couple divorced in 2015.

• Footwear News Achievement Award Hall of Fame (December 2019)
• Footwear News Reader's Choice: Person of the Year Award (December 2011){{Cite web|last=Bell|first=Jennie|date=December 19, 2011|title=Readers' Choice: Best & Worst of 2011|url=https://footwearnews.com/2011/business/news/readers-choice-best-worst-of-2011-139977/|url-status=live|archive-url=https://web.archive.org/web/20160502072248/https://footwearnews.com/2011/business/news/readers-choice-best-worst-of-2011-139977/|archive-date=May 2, 2016|access-date=June 25, 2022|website=Footwear News|language=en-US}}
• NASDAQ Honors Steve Madden & 20 Year Anniversary (June 2010){{cite press release|url=http://globenewswire.com/news-release/2010/06/14/423145/194251/en/UPDATE-Steven-Madden-Ltd-SHOO-Chief-Executive-Officer-to-Ring-the-NASDAQ-Stock-Market-Closing-Bell.html|title=UPDATE -- Steven Madden, Ltd. (SHOO) Chief Executive Officer to Ring the NASDAQ Stock Market Closing Bell|author=The NASDAQ OMX Group, Inc.|work=GlobeNewswire News Room|date=June 14, 2010 }}
• Two Ten Foundation Honors Steve Madden (June 2010){{cite news |url=http://www.twoten.org/News-and-Events/Recent-News/YPfor210-Celebrated-Steve-Maddens-Twenty-Years-in-the-Shoe-Business.aspx |title=YPfor210 Christmas in June Honoring Steve Madden |publisher=Two Ten Footwear Foundation |access-date=June 6, 2015 |archive-url=https://web.archive.org/web/20131231205304/http://www.twoten.org/News-and-Events/Recent-News/YPfor210-Celebrated-Steve-Maddens-Twenty-Years-in-the-Shoe-Business.aspx |archive-date=December 31, 2013 |url-status = dead }}

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Category:1958 births

Category:American fashion designers

Category:American people of Irish descent

Category:Lawrence High School (Cedarhurst, New York) alumni

Category:Living people

Category:People convicted of fraud

Category:People from Far Rockaway, Queens

Category:People from Lawrence, Nassau County, New York

Category:Shoe designers

Category:American shoemakers

Category:American chief executives of fashion industry companies