Who is Heather Deforest Crosby?
Heather Deforest Crosby was born in the United States of America, and is a philanthropist as well as a yoga enthusiast, but probably best recognized for being the former wife of Steven Mnuchin, a politician who is serving as the 77th US Secretary of the Treasury as a member of the cabinet of Donald Trump.
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The Net Worth of Heather Deforest Crosby
How rich is Heather Deforest Crosby? As of mid-2019, sources inform us of a net worth that is over $100 million, earned through success in her various endeavors, but significantly elevated thanks to her association with, then divorce from Mnuchin who has a net worth estimated to be over $300 million.
As she continues her endeavors, it is possible that her wealth will also continue to increase.
Early Life and Career
There is very little public information available about Heather. She was raised by her parents but details about them, any siblings, her childhood and education are unknown. The career path she took was as a public relations executive. She worked with the company Launch Media, and reached a Vice-Presidential role with them.
It is a Santa Monica based company that was known for its magazine called “Launch”, which was on print as well as on CD-ROM as a disk magazine. They also had their own website, but the company was eventually bought by Yahoo! for $12 million. Prior to their acquisition, they had their own internet radio service too, which was later integrated into Yahoo! Music. Later on, she became passionate about yoga, and started her own yoga clothing line. She also became a member of the board of directors of the Joyful Heart Foundation.
Husband – Steven Mnuchin
Steven Terner Mnuchin is a graduate of Yale University, a private Ivy League university and the third oldest institution of higher education in the US. It is one of the nine Colonial Colleges chartered before the American Revolution, and consistently ranks among the top universities in the world. The university has produced numerous success graduates, in science, business, and politics, with the school having 31 living billionaires and five US Presidents to its name.
After completing his education, Mnuchin began working for the investment bank Goldman Sachs, and would stay there for 17 years, rising to the position of Chief Information Officer. He left the company in 2002, and subsequently started several hedge funds. Three years later, he became a member of the board of directors for Sears Holdings for the next 11 years. After the company became bankrupt, he was named in a lawsuit, with the former company suing them for asset stripping during their tenure.
During the 2007-2008 financial crisis, he bought the residential lender IndyMac, rebuilt it as OneWest Bank, and later sold it to CIT Group in 2015.
Mnuchin’s Career in Politics
In 2016, Mnuchin joined Donald Trump’s presidential campaign, and was named as the national finance chairman. His role proved to be instrumental to Trump’s success, and the following year, he was appointed secretary of the treasury in a 53-47 vote in the US Senate. During his time as the secretary, he has become very vocal on proposed tax reform, advocating the reduction of corporate tax rates; the reform would later be called the Tax Cuts and Jobs Act.
The act involves reducing tax rates for businesses and individuals, though many criticize it for being more beneficial to corporations than individuals and small businesses.
He also supported a partial repeal of Dodd-Frank, which made changes to financial regulation and the financial services industry after the crisis of 2007 to 2008. One of the reasons he supported a partial repeal was due to the complexity of the act. While in a position as secretary of treasury, he’s been under a lot of scrutiny for the use of government aircraft for personal use, and has been the target of criticism from many watchdog groups.
— Steven Mnuchin (@stevenmnuchin1) January 16, 2020
Personal Life and Social Media
For her personal life, it is known that Crosby married Mnuchin in 1999 – he previously married Kathryn Leigh McCarver in 1992, but they divorced in 1999. Crosby had three children during their marriage, and became active in AZIAM Yoga as well as in philanthropic efforts over the years. After the acquisition of IndyMac, the couple moved to a 21, 000 square foot house in Bel Air, Los Angeles valued at $26.5 million, bought so that he could be closer to the company’s headquarters in Pasadena.
In 2014 the two divorced without much attention, and without publicly stating the reason for their separation. He later married actress Louise Linton, but not much is known about Crosby’s life after the divorce; the media seemed to lose interest in her.
Cosby doesn’t have accounts on any of the major social media websites, including Facebook, Twitter, and Instagram. Apparently there hasn’t been anyone who has made the effort to contact her after her divorce, to discuss her current endeavors.