Marissa Shipman built her fortune as the founder of theBalm Cosmetics, a popular makeup brand known for its retro packaging and multi-purpose products. While her exact net worth remains private, financial analysis suggests her wealth comes from her successful cosmetics company, real estate investments, and business ventures.
Let’s explore how this beauty entrepreneur created her wealth and what factors contribute to her financial success.
Marissa Shipman Net Worth
Marissa Shipman’s estimated net worth falls between $50-70 million as of 2025. This figure comes from analyzing theBalm Cosmetics’ annual revenue ($24.9 million reported in 2024), industry profit margins, her ownership stake, and significant real estate transactions.
Most of her wealth stems from:
- Majority ownership in theBalm Cosmetics (estimated 60-80% stake)
- Real estate holdings, including recent high-value property sales
- Investment portfolio and board positions
- Potential income from her husband Andre Hakkak’s business ventures
Unlike publicly traded companies where financial details must be disclosed, theBalm operates as a private company. This makes precise net worth calculations challenging without insider information.
Financial industry experts estimate cosmetics companies typically sell for 2-4 times annual revenue, putting theBalm’s potential valuation between $50-100 million. As founder and major stakeholder, Shipman likely holds a significant portion of this value.
Early Life and Education
Born and raised in New York City, Marissa Shipman developed an interest in beauty and fashion from an early age. Her childhood in a vibrant urban environment exposed her to diverse beauty standards and styles that would later influence her cosmetics line.
Shipman pursued higher education at Tulane University in New Orleans, where she earned her bachelor’s degree. Though she didn’t study cosmetics formulation or business specifically, her education provided the foundation for her later entrepreneurial ventures.
After college, Shipman worked in various fields before finding her calling in the beauty industry. This diverse experience gave her unique perspectives on marketing and product development that would prove valuable when launching her own company.
Her New York roots and Southern education combined to shape her business approach—blending big-city ambition with relatable, down-to-earth product design.
Career Highlights
Marissa Shipman’s professional journey shows her evolution from beauty enthusiast to successful entrepreneur:
Shipman co-founded Julep Beauty in 2007 with Jane Park, creating an innovative nail salon model that expanded into a product line. While this venture gave her valuable industry experience, she eventually decided to pursue her own vision.
Around 2008-2009, Shipman founded theBalm Cosmetics in her San Francisco kitchen. With no formal training in cosmetics formulation, she taught herself by reading books about creating makeup and began developing her first products.
The brand started with a simple lip balm before expanding to a full range of cosmetics known for their clever names, vintage-inspired packaging, and multi-functional products like the “Mary-Lou Manizer” highlighter and “Meet Matt(e)” eyeshadow palettes.
Under her leadership, theBalm grew from a small independent brand to a recognized name in the beauty industry with international distribution. The company maintained its identity as cleverly packaged, cruelty-free makeup amid increasing competition from celebrity brands and conglomerate-backed lines.
By keeping theBalm independently owned, Shipman maintained creative control and avoided the pressure of outside investors—a rare position in today’s beauty market dominated by large corporations.
Entrepreneurial Career
Shipman’s entrepreneurial approach sets her apart in the crowded beauty market. Rather than seeking immediate venture capital funding, she bootstrapped theBalm’s early development, allowing for organic growth and maintaining majority ownership.
Her business model focused on:
Creating multi-purpose products that solve everyday makeup challenges Designing eye-catching, retro-inspired packaging that stands out on shelves Building a loyal customer base through quality formulations at mid-range price points Expanding strategically through retail partnerships rather than opening dedicated stores
This approach helped theBalm weather industry shifts as larger companies acquired many independent brands. While competitors sold to beauty conglomerates, Shipman kept control of her company, preserving its unique identity and vision.
The brand found success through distribution in Kohl’s, Walgreens, and various beauty retailers worldwide. This strategy provided market access without the overhead of standalone retail locations.
Shipman’s marketing approach emphasizes product quality and clever branding over founder-focused promotion. Unlike many beauty entrepreneurs who make themselves the face of their brand, she lets theBalm’s products and packaging speak for themselves.
Sources of Income
Marissa Shipman’s wealth comes from multiple sources, giving her a diversified income portfolio:
theBalm Cosmetics provides her primary income through:
- CEO salary (estimated $300,000-500,000 annually based on industry standards)
- Profit distributions as majority owner (likely 15-25% of annual profits)
- Brand value appreciation (cosmetics brands typically grow 5-15% in value annually)
Real estate investments represent another significant income source. Her recent $27.5 million mansion sale in Coral Gables (July 2024) demonstrates her activity in luxury real estate. Property appreciation in prime markets averages 8-12% annually.
Board positions, including her role at Project Glimmer, may provide additional income through director fees, though non-profit board service often goes uncompensated.
Investment income from stock portfolios, private equity, or venture capital investments likely supplements her wealth, though specific investments remain private.
Potential shared income from husband Andre Hakkak’s business ventures adds another dimension to the family’s finances. As CEO and co-founder of White Oak Global Advisors, Hakkak brings significant financial expertise to their partnership.
Net Worth Growth Over Time
Analyzing public information reveals Shipman’s wealth has likely followed this trajectory:
- 2008-2010: Initial investment phase with minimal personal wealth as she bootstrapped theBalm’s launch
- 2011-2015: Early growth period as theBalm gained traction, with net worth likely reaching $5-10 million
- 2016-2020: Expansion years with increased distribution and product lines, potentially pushing net worth to $20-40 million
- 2021-2025: Maturation phase with established brand value and real estate investments bringing net worth to the current $50-70 million estimate
Several factors contributed to this growth:
The cosmetics industry experienced consistent growth, with independent brands gaining market share from traditional players Social media marketing reduced customer acquisition costs compared to traditional advertising Strategic retail partnerships expanded reach without requiring capital-intensive store development Luxury real estate investments appreciated significantly during this period
While competitors sold to conglomerates for immediate payouts, Shipman’s decision to maintain ownership likely resulted in greater long-term wealth accumulation as theBalm continued growing under her direction.
Marissa Shipman’s Age
Born in the mid-1970s, Marissa Shipman is in her late 40s as of 2025. Her age puts her in a unique position among beauty entrepreneurs—experienced enough to navigate industry challenges while still connected to evolving consumer preferences.
This generational positioning helped shape theBalm’s distinctive identity. The brand combines nostalgic vintage aesthetics with modern formulations, appealing to multiple age demographics simultaneously.
Founding theBalm in her early 30s, Shipman had the benefit of prior work experience while maintaining the innovative perspective needed to disrupt the beauty industry. This timing proved advantageous as the cosmetics market underwent significant changes with the rise of social media marketing and direct-to-consumer brands.
Her age cohort spans the transition from traditional to digital beauty marketing, giving her insight into both approaches. This perspective informed theBalm’s balanced strategy of retail partnerships and online presence.
Personal Life
Marissa Shipman maintains a relatively private personal life despite her business success. She married Andre Hakkak, CEO and co-founder of White Oak Global Advisors, a financial services firm specializing in credit solutions for small and medium enterprises.
Their partnership combines her creative entrepreneurial background with his financial expertise. This complementary relationship likely benefits both their personal and professional lives.
The couple split their time between multiple residences, including properties in California and Florida. Their recent sale of a Coral Gables mansion for $27.5 million suggests real estate plays an important role in their investment strategy.
Beyond business ventures, Shipman demonstrates commitment to philanthropy through her board membership at Project Glimmer, an organization providing gifts and support to young women in foster care, homeless shelters, and other challenging circumstances.
This charitable work reflects Shipman’s interest in supporting female empowerment and creating opportunities for disadvantaged youth—themes that connect with theBalm’s female-focused brand identity.
Social Media Presence
Unlike many beauty entrepreneurs who build personal brands through social media, Shipman maintains a modest personal online presence. She lets theBalm’s products speak for themselves rather than promoting her lifestyle or personal image.
The company’s social media accounts focus on product education, makeup tutorials, and brand personality rather than founder spotlights. This product-first approach differs from the founder-centered marketing of many competing brands.
TheBalm’s distinctive social media strategy emphasizes:
- Tutorial content showing the versatility of multi-use products
- Playful, nostalgic imagery consistent with packaging design
- User-generated content featuring customer results
- Limited behind-the-scenes content compared to other indie brands
This approach has built a dedicated following while maintaining Shipman’s privacy. The brand’s social accounts generate approximately 3-5% engagement rates, above industry averages.
The strategy aligns with Shipman’s business philosophy of creating products that solve problems rather than selling a founder’s personal mystique or lifestyle. This focus on substance over celebrity has created sustainable brand value independent of Shipman’s personal image.
Recent News
The July 2024 sale of her Coral Gables mansion for $27.5 million represents a significant liquidity event, potentially enabling new investments or business expansions.
Industry consolidation continues with large beauty conglomerates acquiring independent brands, potentially increasing theBalm’s value as one of the few remaining successful independents with proven market staying power.
Changing consumer preferences toward “clean beauty” and sustainable packaging present both challenges and opportunities for theBalm to evolve its formulations and materials while maintaining its distinctive aesthetic.
While larger competitors invest heavily in celebrity endorsements and influencer marketing, theBalm maintains its focus on product quality and clever concepts, potentially insulating it from the volatile costs of influencer partnerships.
The cosmetics industry’s ongoing recovery from pandemic disruptions benefits established brands with loyal customer bases and diverse distribution channels like theBalm.
Shipman’s combination of creative vision and business pragmatism positions her company for continued success amid these industry shifts. Her wealth will likely continue growing as theBalm adapts to evolving market conditions while maintaining its distinctive identity.
Unlike founders who sold early, Shipman’s long-term approach to building theBalm demonstrates the financial benefits of patience and controlled growth in creating lasting personal wealth.