Jay owned the company for many years and, being the owner of the company, became very rich in his later life.
In his younger years, while he was still married to Dede and their children Claire and Mitchell were still children, they were all living paycheck to paycheck and Jay was working all the time and was almost never around, working his tail off to provide food and shelter. It appears that Jay working all the time caused DeDe to become crazy later as said in "Arrested".
In "First Days", Claire started working at the company, after 20 years of being a housewife and stay-at-home mom.
Ever since Jay's retirement in "White Christmas", Claire now runs the company and it is agreed that after her, it would be either Haley, Alex (Claire's Daughters) or Lily (Mitchell's Daughter). At the end of season 9 Claire mergers the campony with a high tech closet campony but only her and her dad end up going, which means that the pritchets closets staff got laid off expept Margret.