Chip and Joanna Gaines’ New Magnolia Headquarters in Waco, Texas, Costs $21 Million
HGTV’s Fixer Upper brought Chip and Joanna Gaines to the forefront, and now, the couple owns their own empire. Chip and Joanna started Magnolia Home, Magnolia Realty, Magnolia Market, Magnolia Seed & Supply, the Shops at the Silos, Silos Baking Co., and the Magnolia Network, just to name a few businesses. Now, the couple’s expanding their headquarters — and it isn’t cheap.
Where is Chip and Joanna Gaines’ Magnolia?
Chip and Joanna Gaines based Magnolia out of Waco, Texas, which is also where they live full-time. The small southern city experienced a major tourism boom thanks to Magnolia. The Fixer Upper couple spoke to Today about the impact the HGTV series and their businesses have had.
“We’ve gotten to where 20,000 to 30,000 people a week come to Waco, Texas, to either visit the Silos or see one of our projects, and it’s just mind-boggling,” Chip said. “How this made such an impact and such a connection with so many people is literally mind-boggling. It’s one thing to make an impact on New York City, and Waco, Texas, did not have the best reputation on the planet. We had quite a few decades of some pretty unfortunate circumstances.”
Chip and Joanna have become seriously wealthy thanks to their success, and Magnolia is worth hundreds of millions of dollars. An insider told OK! Magazine that “the Magnolia brand alone is worth about $750 million dollars” and the couple nets “millions” from book deals, magazines, and their product lines.
The ‘Fixer Upper’ couple renovated their new Magnolia headquarters for an estimated $21 million
Chip and Joanna Gaines have a seriously high net worth thanks to their Magnolia success and Fixer Upper fame. And they’ve reportedly put a lot of money into their new Magnolia headquarters.
According to the Waco Tribune-Herald, Chip and Joanna turned the Tribune-Herald building into the new Magnolia headquarters. “We don’t take lightly the magnitude of the history that has happened in the walls of this building,” Joanna said at a ribbon-cutting ceremony for the space. “And I think one of the biggest things for us as we started to think about the design of this new space for Magnolia is, how do we retell that story that was already told so well, how do we honor the history of the Trib here?”
Renovating the 110,000-square-foot building was certainly costly. It was estimated that it would take $21 million. The renovation received about $10 million in funding. And it’s unclear whether the other $11 million is coming out of Chip and Joanna’s pockets. The couple currently has a net worth of around $50 million in 2023.
Chip and Joanna Gaines are ‘proud’ of how they’ve impacted Waco, Texas
“The whole objective would be for us to be 80 and not say to ourselves, ‘But we’ve got all these trusts built and our great-great-great-great-grandkids are now taken care of.’ To the contrary, we would prefer to be on that rocking chair on our front porch, saying, ‘I’m proud of the impact that we’ve had here,’” Chip told Variety.
“We went from a 1,200-square-foot building down the street to the Silos,” Joanna added. “The intention has been the same from the beginning: We care about people. We care about the time they spend with us, and we hope that they leave inspired to go do whatever it is that sparks joy in their life.”
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