Steve Madden

Steven Madden, born March 23, 1958, is an American fashion designer and businessman. He is best known as the founder and former chief executive officer of Steve Madden, Ltd., a publicly traded shoe company. He currently serves as the company's founder and design chief.

Madden was born in Far Rockaway, Queens, to a Jewish mother and an Irish Catholic father. The youngest of three brothers, he grew up in adjoining Lawrence, New York, and graduated from Lawrence High School in Nassau County. After high school, Madden studied at the University of Miami for two years before returning to Long Island.

In 1990, Madden founded Steve Madden, Ltd. with $1,100, initially selling footwear out of the trunk of his car. His business expanded with financial backing from Stratton Oakmont, a Long Island brokerage firm cofounded by his childhood friend Danny Porush. Porush provided loans to help grow the business and underwrote the company's initial public offering.

Madden later faced legal troubles concerning his financial activities. In June 2000, he was named in a class action lawsuit over false and misleading statements, which resulted in a $9 million settlement in 2004. In 2001, the Securities Exchange Commission filed charges against him. In 2002, Madden was convicted of stock manipulation, money laundering, and securities fraud. Sentenced to 41 months in prison, he resigned as chief executive officer and board member. During his incarceration, he served as a creative consultant for the company, earning $700,000 annually.

Madden served his sentence at the Federal Prison Camp, Eglin, at Eglin Air Force Base, and later at the Coleman Federal Correctional Complex near Ocala, Florida. Upon his release in April 2005, he spent time in a New York City halfway house and completed a period of home confinement.

Following his release, Steve Madden, Ltd. experienced strong financial growth. The company reported $475.1 million in revenue in 2006 and reached $1.9 billion in revenue for fiscal year 2021. Outside of his business career, Madden has contributed to The Doe Fund, a charity focused on addressing homelessness, addiction, and criminal recidivism.

Madden has received several industry honors, including induction into the Footwear News Achievement Award Hall of Fame in December 2019 and the Footwear News Person of the Year award in December 2011. He was also recognized by NASDAQ and the Two Ten Foundation in June 2010. On a personal level, Madden has addressed past substance abuse through court-ordered rehabilitation. He married Wendy Ballew in 2005, with whom he has three children, before their divorce in 2015. Additionally, he was portrayed by Jake Hoffman in the film The Wolf of Wall Street.