Reese Witherspoon’s net worth just jumped. The actress and producer is selling the media company she founded to a newly formed company backed by private equity firm Blackstone Group for a whopping $900 million, according to The Wall Street Journal.
Witherspoon, known for her roles in films such as “Legally Blonde” and “Walk the Line,” created Hello Sunshine in 2016. She will continue to oversee its day-to-day operations along with members of Hello Sunshine’s existing senior management team, including CEO Sarah Harden. Witherspoon and Harden will also reportedly serve as board members for the new media company run by entertainment executives Kevin Mayer and Tom Staggs.
“We’re just doubling down on our mission,” Witherspoon said in an interview with CNBC on Tuesday. “Now we’re going to have the ability to tell more stories, to hire more female filmmakers, to promote and lift up even more authors.”
The buyout was reportedly one of many offers, including ones put forth by Apple and Disney. Terms of the purported offers by those companies where not disclosed.