updated 02/24/2012 AT 2:55 PM ET
•originally published 02/24/2012 AT 3:20 PM ET
Kate Upton take note: Kathy Ireland has gone from Sports Illustrated cover girl to richest model in the world.
Ireland, 48, was on the coveted SI swim issue cover three times in her career, and went on to launch an empire, worth an estimated $350 million, according to Forbes.
Considered the richest supermodel in the world right now by CelebrityNetWorth.com, Ireland is “a bigger licensor than the formidable Martha Stewart,” Forbes notes.
What began as a simple clothing line at Kmart emerged into a brand that now includes home goods, socks and wigs.
As for current SI covergirl Upton, Ireland tells Forbes that the 19-year-old is on the right path by having “an agenda.”
“So many young people say, ‘I’m just going to see what happens,’ ” Ireland explains. “It’s much more powerful to make things happen and have a plan.”