Net Worth Ranker
What Is Debbi Fields’ Net Worth?
Debbi Fields, the American entrepreneur and author celebrated as the founder of Mrs. Fields, boasts a substantial net worth estimated at $200 million. This financial achievement is primarily attributed to her successful snack food franchise, Mrs. Fields, which has expanded significantly since its inception. Founded in 1977 in Palo Alto, California, the company has grown to include over 750 locations spanning more than 20 countries worldwide. Her influence extends beyond her business ventures, as she is also an accomplished author of several cookbooks, further contributing to her financial success. Her motto, “Good Enough Never Is”, encapsulates her drive for success.
Early Career and the Genesis of Mrs. Fields
Debbi Fields’ journey to becoming a successful entrepreneur began in Oakland, California, where she was born as Debra Jane Sivyer, the youngest of five daughters. Even though she considered herself an average student, she discovered a passion for baking cookies, receiving accolades from family and friends. At the age of 13, Fields took on various odd jobs to fund her cookie-making endeavors. One notable role was as a “ball girl” for the Oakland Athletics, secured through her sister who worked in the team’s offices. In this capacity, she was responsible for retrieving foul baseballs near the baselines, earning five dollars per hour which she diligently saved to kick-start her cookie business. This early experience instilled in her the values of hard work and financial independence. By her senior year at Alameda High School, Fields was named homecoming queen, highlighting her popularity and leadership skills. Subsequently, she attended Foothill College for two years before transferring to Stanford University.
In August 1977, at the age of 20, Fields officially launched her cookie business, Mrs. Fields, in Palo Alto, California. Starting her company with an initial investment of $75,000 in debt. She secured a $50,000 bank loan and supplemented it with $25,000 from her husband, Randy Fields. The homemade-style cookies gained immediate popularity. She initially projected $50,000 in sales for the first year but exceeded expectations by reaching $75,000 in revenue. She emphasized high-quality ingredients and fresh baking practices, which contributed significantly to the brand’s appeal. This focus on quality helped Mrs. Fields rapidly expand, opening stores in shopping malls and airports across the United States. By 1982, the company’s headquarters were relocated to Park City, Utah, to accommodate further expansion.
Expansion, Acquisition, and Continued Involvement
By 1990, Mrs. Fields had become a franchised business. The company was later sold during the early ’90s to an investment firm. Although the exact details of the sale were not publicly disclosed, this transaction significantly contributed to Debbi Fields’ net worth. Following the sale, Mrs. Fields acquired several other brands, including TCBY, Pretzel Time, Pretzelmaker, and Great American Cookies, expanding its footprint in the snack food industry.
Despite the changes in ownership, Debbi Fields has remained the company’s spokeswoman, maintaining a visible presence in the brand’s marketing and promotional activities. Her role as the face of Mrs. Fields has helped sustain the brand’s recognition and appeal. In 2007, Nexcen Brands acquired Pretzelmaker and Pretzel Time from Mrs. Fields, followed by the purchase of Great American Cookies in 2008. These sales led to restructuring within Mrs. Fields and consequent layoffs. In 2011, the company faced the threat of bankruptcy but managed to avoid it by handing over control to its creditors, Carlyle and Z Capital Partners. By 2012, Mrs. Fields moved its corporate headquarters to Broomfield, Colorado, and in 2013, Z Capital Partners became the sole owner of the company.
In 2014, Mrs. Fields expanded its portfolio by acquiring Maxfield Candy and Nutty Guys. Fields herself remains the company spokesperson, participating in various marketing initiatives and public appearances. As of today, Mrs. Fields operates over 300 franchised locations in the United States and more than 100 internationally. The brand continues to offer a range of baked goods, retail groceries, and gifts, contributing to its ongoing revenue streams. Mrs. Fields also authored a handful of cookbooks, including one that topped the “New York Times” bestseller list. While specific royalties and sales figures are not publicly available, her success as an author has added to her overall financial achievements.
Personal Life and Real Estate Ventures
In 1976, at the age of 19, Debbi Fields married Randall Keith Fields, a Stanford alum and founder of the financial consulting firm Fields Investment Group. Together, they had five daughters: Jessica, Jennifer, Jenessa, Ashley, and McKenzie. However, their marriage ended in divorce in 1997. Fields later married Michael Rose, former CEO of Holiday Inn and Harrah’s, in 1998. Rose passed away in 2017.
During the 1980s, Debbi and Randall Fields owned a 200,000-acre ranch in Utah, which became a point of contention during their divorce proceedings. The ranch eventually went into foreclosure due to neglect and unpaid taxes. In 2011, the ranch was bought at auction for $3.5 million and later renovated. In September 2019, the renovated ranch was listed for sale at $45 million, showcasing the potential value of such properties. Debbi and Michael Rose owned a 500+ acre ranch in Aspen, Colorado. This ranch was initially listed for sale in 2008 for $25 million and later in 2010 for $28 million. Michael Rose had purchased the undeveloped land in 1993 for $4.8 million. In 2002, they built an 11,000 square foot home inspired by Japanese architecture on the property. These real estate ventures reflect Debbi Fields’ investment strategies and her ability to capitalize on valuable assets. While the exact financial gains from these real estate holdings are not fully disclosed, they undoubtedly contributed to her overall wealth.
