Billionaire Lululemon founder Chip Wilson’s – Business News
Lululemon founder Chip Wilson’s $6.1 billion fortune may take a huge hit in his no-prenup divorce — with marital positive aspects probably subject to a 50-50 break up, prime Canadian divorce legal professionals informed The Post.
Wilson, 71, and Shannon “Summer” Wilson, 52, obtained hitched in 2002 and at the moment are embroiled in a divorce continuing in British Columbia.
A family-law case involving the couple was opened in April within the province’s Supreme Court, although the the contents aren’t publicly obtainable, based on Bloomberg News.
Still, it appears clear that the athleisure mogul may have a painful payout in store.
Lululemon founder Chip Wilson and Shannon “Summer” Wilson married in 2002 with out a prenuptial settlement and at the moment are divorcing. Bloomberg by way of Getty Images
“In British Columbia, the value of assets brought into the marriage is not shareable, but the gain is called family property and presumptively divided 50-50,” Lorne MacLean KC, founder of Vancouver-based MacLean Law, informed The Post on Monday.
Vancouver divorce lawyer and arbitrator Georgialee Lang individually informed The Post that the absence of a prenup may have main penalties for how the couple’s property is split.
“Without a prenup, his wife is entitled to 50% of family property. Family property is defined as all property owned by a spouse,” Lang informed The Post.
“However, if he can prove that he brought certain assets into the marriage or their initial cohabitation, if any, Chip will be able to retain the value of the pre-owned assets at the date he brought them it into the relationship at that date’s value,” she added.
“The increase in value from the time he brought the property into the relationship is shared equally by the parties based on current values.”
Chip and Summer Wilson are divorcing after more than 20 years of marriage, with a family-law continuing filed in British Columbia Supreme Court in April. @summerwilsondesign / Instagram
That distinction may loom massive for Wilson, who based Lululemon in 1998 — 4 years earlier than he and Summer tied the knot.
Forbes at present locations his fortune at $4.9 billion, whereas the Bloomberg Billionaires Index places it at $6.1 billion.
The eventual division of the Wilsons’ property stays unknown, and the sealed continuing makes it unimaginable to find out which belongings both partner is claiming as household property or what valuations they might put on them.
Chip’s sprawling holdings embody a almost $3 billion place in Amer Sports, whose portfolio consists of Arc’teryx, Salomon and tennis gear company Wilson, together with a main curiosity in Lululemon and intensive real-estate investments.
Chip Wilson’s fortune is estimated at $6.1 billion by the Bloomberg Billionaires Index as he and spouse Summer head for divorce. @summerwilsondesign / Instagram
The 71-year-old billionaire is one of Lululemon’s greatest shareholders more than a decade after leaving the company.
Recent securities filings show he and affiliated household entities controlling roughly 8.7% of Lululemon, a block that was just lately valued at just below $1 billion.
That determine consists of shares attributed to Summer and the household’s charitable basis, that means all the stake can’t be counted as Chip’s personal holdings.
Shannon “Summer” Wilson was Lululemon’s founding lead designer and helped create some of the attire giant’s early merchandise. @summerwilsondesign / Instagram
The Wilsons’ marriage has intertwined business and household pursuits.
Summer was Lululemon’s founding lead designer and helped create some of the company’s early merchandise. The couple are additionally co-founders of House of Wilson, their household workplace, and established the Wilson 5 Foundation in 2012.
They have a blended household of 5 sons, together with three sons collectively.
A September securities submitting attributes 1,092,596 Lululemon shares, or about 1%, to Summer below helpful possession guidelines.
Shannon Wilson has a instantly held Lululemon place just lately price roughly $27 million. @summerwilsondesign / Instagram
But solely 268,984 exchangeable shares are held instantly by her, whereas 823,612 shares are instantly owned by the Wilson 5 Foundation.
At Lululemon’s current $100.61 share price, Summer’s instantly disclosed place was price roughly $27 million, whereas all the helpful possession block was price about $110 million.
Chip additionally has substantial real-estate holdings by his household workplace, together with Low Tide Properties, whose portfolio spans Vancouver and the Seattle space.
Forbes estimated in 2024 that Chip’s curiosity in Low Tide’s then-portfolio, collectively together with his Vancouver mansion, was price roughly $500 million.
Chip’s waterfront Vancouver home acquired a $53 million evaluation for 2026.
Chip Wilson based Lululemon in 1998, 4 years earlier than marrying Shannon “Summer” Wilson. @summerwilsondesign / Instagram
A separate appeal this 12 months lowered the property’s evaluation for the prior roll from roughly $60 million to round $47 million.
Splitting household property might not be the top of Wilson’s financial publicity, MacLean stated.
“Spousal support in Canada is generous and large awards are often made in high net worth cases before trial and even after a substantial Family property division award has been made,” MacLean informed The Post.
The Post has sought remark from the House of Wilson and Lululemon.
