Did Reese Witherspoon save her husband, Jim Toth, from financial ruin by selling her multi-million dollar production company? One tabloid insists the sale was all to bail out her husband after a failed business venture. Gossip Cop investigates.
Reese Witherspoon Selling Assets To Bail Out Her Husband?
The most recent edition of the National Enquirer reports veteran actress and “newbie mogul” Reese Witherspoon has saved her family from financial ruin by selling her media company, Hello Sunshine, for $900 million. Witherspoon’s husband, Jim Toth, invested all of his energy and resources into launching a video startup called Quibi back in 2019. The company didn’t take off and was dissolved in 2020 after pulling in a billion dollars in investments.
“It was a big comedown,” an inside source dishes, “Jim had quit his big Hollywood gig to take it. Reese supported him through it all, but it had to bruise his ego!” The tabloid also notes that the couple sold a few of their properties last year to help bolster their finances.
From then on, Hello Sunshine continued to grow, producing female-led films and miniseries, including HBO’s Emmy-winning series, Big Little Lies. “This has been a magic carpet ride for Reese and a dream come true!” the insider muses, “Hello Sunshine was worth nothing when it started and now she’s sold it for almost a billion dollars!”
Reese Witherspoon Saves Her Family With Sale?
So, is it true Witherspoon’s motivations for selling her production company lied in her husband’s failed business venture? Of course not. This story doesn’t make any sense and isn’t researched in the slightest. First of all, it’s worth noting that Witherspoon and her family were never in danger of financial ruin. Witherspoon’s net worth was estimated to be somewhere in the $300 million range before she sold her company.
Furthermore, her earnings from the sale weren’t absorbed by any sort of debt. According to Forbes, Hello Sunshine’s buyout has made Witherspoon “the world’s richest actress.” The very same article reveals that Witherspoon will retain part ownership — at least 18 percent — and will see about $120 million from the sale after taxes. Since Witherspoon isn’t selling all of her stakes in the company and still retains partial ownership, it’s clear that the move wasn’t solely financially motivated.
According to Witherspoon’s Instagram post about the buyout, “[Blackstone] are committed to helping our mission to empower women and the people who celebrate them. One story at a time.” It seems Witherspoon is looking at the change as more of an expansion of her company and its goals. The move was universally celebrated on social media. We seriously doubt Toth’s business venture from nearly a year ago has anything to do with Witherspoon’s recent success.
The Tabloids On Reese Witherspoon And Jim Toth
It’s no surprise the National Enquirer has taken this as an opportunity to insinuate some kind of marital strife. The tabloids have been predicting divorce for the couple ever since Toth’s streaming service was dissolved. The Enquirer reported back in April that the couple’s marriage was doomed after Witherspoon was spotted without her wedding ring. Even as recent as last week, another tabloid claimed Witherspoon was desperately trying to save her marriage. It’s obvious none of the tabloids have any insight into Witherspoon or her family.
