“I am distressed that my Halloween costume yesterday, which was intended to bring more awareness to the very serious subject of homelessness, has offended people, which was never my intention.
“Homelessness continues to remain one of America’s greatest challenges and ongoing crises, something that I care deeply about and I have spent a significant amount of time and effort supporting charities that combat this ongoing social epidemic.
“I am committed to continuing to make a difference.”
However, Stewart later conceded her statement “didn’t go far enough” and she issued an apology via Instagram admitting her costume was “insensitive” and “not funny”.
She wrote: “It’s hard to admit when you’ve really screwed up. My earlier statement didn’t go far enough.
“I know many people are suffering economically. Wearing a costume like I did was insensitive and not funny. I am very sorry. Martha.”
Stewart has previously been open about her vast wealth. She was once a billionaire at the height of her fame before legal troubles in the 2000s when she was convicted on charges relating to insider trading and sentenced to five months in prison.
During a recent appearance on the Other People’s Business podcast, Stewart admitted she used to earn around “US$65m a year in royalties” from a previous deal with Kmart and she struggled as her empire collapsed but she’s now built her business back up again.
She said: “I fell in a hole, and I lost about US$1b … [The] lawyers took me to the cleaners. … I’m back 1793680097. I’m pretty good.”