lululemon founder Chip Wilson and wife Summer reportedly split without prenup, with billions at stake

Bloomberg has reported that lululemon founder and major shareholder Chip Wilson is divorcing his wife, Summer Wilson, after more than 20 years of marriage. The report said there was no prenuptial agreement, and a person familiar with the matter said the effect on the family's assets has not yet been determined.

Summer Wilson was one of lululemon's earliest employees and, according to her website, its founding lead designer. Bloomberg reported that Chip Wilson has said she played a crucial role during the company's early years.

Oliver Spinks, a founding lawyer at Outset Law, said the absence of a prenup does not automatically mean one spouse receives half of the other spouse's entire fortune under B.C. family law. Family property is generally divided equally as a starting point, he said, while property brought into a relationship by one spouse may be excluded. Growth in the value of excluded property during the relationship is generally family property.

Reports earlier this year said Wilson won an appeal that reduced his home's assessed value by $18 million. BC Assessment currently lists it at $73,457,000. Spinks said a qualified real-estate appraiser or valuator would normally determine fair market value for a property of that scale, and the assessed value would not usually be the figure used to resolve a family-law case.

If the couple is motivated to settle and can agree on the financial picture, Spinks said the matter could end relatively quickly, potentially through a large cheque or equalization payment. If it becomes contested, disputes could involve business interests, investments, real estate, excluded property, valuations and tax consequences, and could take years or longer to resolve through the courts.

Forbes' most recent billionaire ranking placed Wilson 645th, with a reported net worth of $6.5 billion. Spinks said children are legally separate from the property dispute, though money does not remove the emotional impact of separation. He added that people at this wealth level do not usually fight every issue publicly.

On Oct. 3, 2024, Vancouver Mayor Ken Sim declared Chip and Summer Wilson Day. Chip Wilson wrote on Instagram that Vancouver is integral to the family and its businesses. Although he has left lululemon, he has continued to comment publicly on the company and criticize decisions by its current leaders.