Chip and Joanna Gaines Cross Major Financial Milestone Amid Magnolia Network Launch

Chip and Joanna Gaines are officially worth over a billion dollars. The former Fixer Upper stars turned Magnolia Network moguls have raked in quite a bit of cash through their various ventures, and OK! Magazine reports that the Gaines are "worth in excess more than a billion dollars with the arrival of their new network."

An insider told OK! that "the Magnolia brand alone is worth about $750 million dollars" while the home improvement gurus earn "millions from their lines at Target and Anthropologie," as well as "millions from book deals and magazines." Chip and Joanna became overnight superstars when Fixer Upper launched in 2013, and while fans were crushed when they ended the show in 2017. However, the ambitious couple was far from finished expanding their empire.

In an interview with Oprah Winfrey, the Gaines explained that they hoped that the shows on Magnolia Network inspire two things: vulnerability and risk. "With every show that's on the network, our hope is that when others finish watching it, that they say, what's untapped in my life? What fear is keeping me from that?" Joanna explained. "Whether it's small or big, it's that 'hey, they inspired me to move forward with this.' That's our hope, that when people watch these stories, that they can somewhat relate to the talent's vulnerability."

"From the beginning, our aim for Magnolia Network has been to tell good stories," Chip and Joanna previously said in a statement. "Stories that bring us together, that inspire and encourage us all to try something new. Stories that are told in ways that feel authentic. Our plan has evolved along the way, but our original vision for this network has remained the same. And it is our ongoing desire to create a space, whether in a streaming environment, or on linear television, where people who watch a show on our network leave feeling like it was time well spent."

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Now, that Magnolia Network launching on Thursday, July 15 simultaneously on the discovery+ streaming platform and the Magnolia app, the couple is "excited about getting to show the world what we've been working on for the last two years and getting to highlight other people's stories that are so beautiful, so unique, so inspiring," Joanna told Entertainment Tonight.