The Rise Of Reese Witherspoon

The star becomes the world’s richest actress as she sells her production company for $1.2 billion

- Kylie Walters

Two decades ago, Reese Witherspoon won hearts by playing the ultimate flaxen-haired ditz, Elle Woods, in Legally Blonde. And just as everyone in the 2001 rom-com underestimated the tenacity of Elle, few would have foreseen the Hollywood heavyweight that Witherspoon would become 20 years later.

On August 2, Forbes magazine officially declared the charming Southern belle, 45, as the world’s richest actress when she announced her media company, Hello Sunshine, had been sold to private equity firm Blackstone for an eye-watering $1.2 billion. Founded by Witherspoon in 2016, the business includes Reese’s Book Club, a mobile book club app and a film and TV production wing, which is behind hits such as Big Little Lies and Morning Wars.

The sale brings Witherspoon’s personal wealth to $540 million, reported Forbes. Despite the staggering payday, the actress isn’t planning on putting her feet up and retiring just yet. Witherspoon retains an 18 per cent stake in the company and a spot on the board. The mum-of-three plans to use her position to create even more content targeted at women.

“I started this company to change the way all women are seen in media,” Witherspoon said following the announcement. “I’m going to double down on that mission to hire more female creators from all walks of life and showcase their experiences. This is a meaningful move in the world because it really means that women’s stories matter,” she added.