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Martha Stewart, a self-made billionaire, a former stockbroker, and one of the most well-known women in the United States, was imprisoned in 2004 for insider trading in the stock of biopharmaceutical company ImClone Systems. A federal grand jury in New York City and the Securities and Exchange Commission (SEC) had filed nine charges against Stewart, and a jury found her guilty on four counts of obstructing justice and lying to investigators. She was sentenced to five months in prison.

Before the Scandal

Stewart was born in Jersey City, New Jersey, to middle-class Polish Americans Edward and Martha (Ruszkowski) Kostyra. She was the second of six children. Growing up, her mother taught Stewart how to cook and sew, while her father had a passion for gardening, teaching Stewart his expertise. After high school, Stewart attended Barnard College, where she met future husband Andrew Stewart, a recent graduate of Yale Law School. They married in 1961, and eventually had a daughter, Alexis. Stewart returned to college, graduating with a double major in history and architectural history.

The couple moved to Westport, Connecticut, where Martha began a catering business. In 1977, Andrew became the president of Harry N. Abrams, a prominent publisher of high-quality art and illustrated books. Martha's company was hired to cater the book release party of the blockbuster success The Secret Book of Gnomes, resulting in her encounter with Alan Mirken of the Crown Publishing Group. This chance meeting led to Mirken personally contacting Stewart to write a cookbook that would feature recipes and photos from parties and would showcase Stewart's talents for catering events. On December 13, 1982, Entertaining hit the bookstores, becoming a huge success and leading to Stewart's many other books. Andrew and Martha's marriage was less successful, ending in a divorce in 1987.

In 1990, Stewart began her magazine Martha Stewart Living, serving as editor in chief; the publication's circulation peaked in 2002 at more than two million copies per issue. Stewart also began a weekly 30-minute television spot for her magazine, showcasing her talents for homemakers. This program expanded into an hour weekday format and half-hour episodes on the weekends and led to her position as a contributor on CBS's The Early Show.

In 1997, Stewart created a business empire after securing funds with the assistance of business partner Sharon Patrick. Stewart was able to purchase ventures related to the Martha Stewart brand, consolidating them into one company named Martha Stewart Living Omnimedia (MSLO). That same year, Stewart announced the launch of the companion Web site to Martha Stewart Living, a catalog business, and a floral business. The control of this empire was in the hands of Patrick, who was named the chief of operations of MSLO, with Stewart as chairperson, president, and chief executive office. Stewart became the first female, self-made billionaire in the United States on October 19, 1999, when her company went public on the New York Stock Exchange.

Martha Stewart at the Time 100, an event publicizing Time magazine's published list of the 100 most influential people in the world, May 4, 2010. Stewart gradually rose back up the ranks of popularity after her 2004 conviction for insider trading.

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