Jessica Alba, whose estimated fortune was pegged at $200 million, has landed the latest cover of Forbes magazine, titled America’s Richest Self-Made Women.
The Hollywood star-turned-businesswoman, 34, co-founded The Honest Company in 2012 and the business has an estimated value of $1 billion in just three years, according to the publication.
Alba holds a 15 to 20 percent stake in the company and was $50 million shy of earning a spot in the magazine’s Top 50 list with Beyoncé and Judge Judy, who tied for 49th with a worth of $250 million each.
The actress was in Seoul, South Korea Thursday to celebrate her company’s expansion in the country.
Jessica was inspired to launch The Honest Company in 2008 when she was expecting her first child with husband, Cash Warren.
The Daily Mail reports that Alba was at a baby shower when her mother recommended baby detergent to prewash outfits she had received as gifts.
Following her mother’s advice, the actress turned to a mainstream detergent and ended up having a bad skin reaction, which reminded her of childhood problems she had, as her skin was quite sensitive.
“She was the most sensitive child,” her mother Cathy told Forbes.
After the detergent incident, Alba sought out more natural and eco-friendly products.
She said she even tried to make her own products with baking soda, vinegar, and essential oils.
“I felt like my needs weren’t being met as a modern person. I want beautiful design like everybody else. But it shouldn’t be premium-priced, and it should, of course, be safe,” she explained.
Alba eventually partnered with Christopher Gavigan, who had a nonprofit called Healthy Child Healthy World, to formulate a business plan.
The duo then partnered with Web entrepreneur Brian Lee and the fourth co-founder Sean Kane.
The Honest Company was launched in 2012 with a $6 million investment. In its first year, the business earned $10 million in revenue and by 2014 had reached $150 million.
But The Honest Company is just getting started, according to Alba.
“If we really want to make a difference in the world and people’s health, it’s billions and billions of dollars, not just one,” she said.
Non-toxic and eco-friendly diapers account for a large proportion of the sales within the company, and 75 percent of revenues come from online commerce, per Forbes, with the majority of that from the company’s $79.95 monthly bundles of diapers and wipes.
The Honest Company sells vegan-leather diaper bags for $170, organic beeswax sunscreen for $14, and non-toxic and hypoallergenic laundry detergent for $13.
A now successful businesswoman, Alba rose to prominence at 19-years-old when she starred in James Cameron’s sci-fi series Dark Angel.
She has since appeared in numbers films, including Sin City, Fantastic Four, and Valentine’s Day.
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