Herbalife

Herbalife Nutrition Ltd.
Company typePublic company
ISINKYG4412G1010 Edit this on Wikidata
IndustryMulti-level marketing
FoundedFebruary 1980; 44 years ago (1980-02) in
Los Angeles, California, U.S.
FounderMark R. Hughes
HeadquartersL.A. Live
Los Angeles, California, U.S.; legal domicile: Cayman Islands
Key people
Michael O. Johnson (Chairman & CEO)
Products
RevenueUS$5.06 billion (2023)[1]
US$356 million (2023)[1]
US$142 million (2023)[1]
Total assetsUS$2.80 billion (2023)[1]
Number of employees
8,900+ (2023)[2]
Websiteherbalife.com

33°51′26″N 118°17′31″W / 33.8572°N 118.2919°W / 33.8572; -118.2919 Herbalife Nutrition Ltd., also called Herbalife International, Inc. (with a U.S. subsidiary called Herbalife International of America) or simply Herbalife, is an American multinational multi-level marketing (MLM) corporation that develops and sells dietary supplements. The company has been alleged to have fraudulently operated a pyramid scheme.[3][4] Some products sold by Herbalife have caused acute hepatitis.[5] The business is incorporated in the Cayman Islands, a tax haven, with its corporate headquarters located in Los Angeles, California.

The company was founded by Mark R. Hughes in 1980,[6] and it employs an estimated 9,900 people worldwide. The company operates in 95 countries through a network of approximately 4.5 million independent distributors and members. In October 2022, previous CEO Michael O. Johnson was appointed as Chairman and interim Chief Executive Officer following the departure of John Agwunobi.[7]

Herbalife has been accused of deceiving consumers about potential returns, and that most returns are made from distributors that one recruits. The company agreed to "fundamentally restructure" its business in the United States, and pay a $200 million fine as part of a 2016 settlement with the U.S. Federal Trade Commission (FTC) following these accusations.[8]

  1. ^ a b c d "Herbalife LTD. Income Statement". Yahoo! Finance. 2017. Archived from the original on August 6, 2016. Retrieved February 20, 2018.
  2. ^ "Herbalife Nutrition Recognized as One of Forbes Magazine's Best Employers". MarketWatch. May 1, 2018. Archived from the original on October 23, 2019. Retrieved October 23, 2019.
  3. ^ Bartz, Diane; Flaherty, Michael (July 15, 2016). "Herbalife settles pyramid scheme case with regulator, in blow to Pershing's Ackman". Reuters. Archived from the original on July 16, 2016. Retrieved July 15, 2016.
  4. ^ "Herbalife Will Restructure Its Multi-level Marketing Operations and Pay $200 Million For Consumer Redress to Settle FTC Charges". Federal Trade Commission. July 15, 2016. Archived from the original on June 28, 2019. Retrieved May 9, 2018.
  5. ^ Elinav, Eran; Pinsker, Galia; Safadi, Rifaat; Pappo, Orit; Bromberg, Michal; Anis, Emilia; Keinan-Boker, Lital; Broide, Efrat; Ackerman, Zvi; Kaluski, Dorit Nitzan; Lev, Boaz; Shouval, Daniel (October 1, 2007). "Association between consumption of Herbalife® nutritional supplements and acute hepatotoxicity". Journal of Hepatology. 47 (4): 514–520. doi:10.1016/j.jhep.2007.06.016. ISSN 0168-8278. PMID 17692424.
  6. ^ Copage, Eric V. (May 23, 2000). "Mark R. Hughes, 44; Founded Nutrition Supplement Concern". The New York Times. ISSN 0362-4331. Archived from the original on July 10, 2022. Retrieved November 2, 2022.
  7. ^ "Herbalife Nutrition Announces Leadership Change". www.businesswire.com. October 31, 2022. Archived from the original on October 31, 2022. Retrieved October 31, 2022.
  8. ^ "It's no longer business as usual at Herbalife: An inside look at the $200 million FTC settlement". Federal Trade Commission. July 15, 2016. Archived from the original on June 6, 2019. Retrieved May 9, 2018.