Prada, Armani and Lauren Among Forbes Fashion Billionaires
Mar 09, 2012 - by Lester Brathwaite
Forbes Magazine, that wealth of celebrity-earnings knowledge, has published its 25th annual list of the world's billionaires -- all 1,226 of them. Their combined net worth is $4.26 trillion, or to put things in perspective: about a third of the U.S. national debt; or if they decided to break off and form their own country, Billionaire Island, the world's fourth largest GDP. Besides Spanx founder Sara Blakely's debut, the fashion industry made a decent showing on the list with Miuccia Prada returning after a six-year absence.
Miuccia Prada is ranked 139th among the world's ten-figure ballers with an estimated worth of $6.8 billion, thanks in part to Prada's IPO on the Hong Kong stock exchange last year. Meanwhile, Miuccia's husband and business partner Patrizio Bertelli takes a backseat with a paltry $3.7 billion.
Giorgio Armani's $7.2 billion fortune brings him in at #127 on the list with $7.2 billion while Ralph Lauren ties with Chanel owners Alain and Gerard Wertheimer at #122 with an estimated worth $7.5 billion.
The designers are unique on the list as most billionaires in fashion are the muckety-muck of the companies that own the labels, such as PPR's François Pinault (#59, $13 billion); Unqilo's Tadashi Yanai (#88, $10 billion); H&M's Stefan Persson (#8, $26 billion); and LVMH's Bernard Arnault, who for the second year in a row is the richest man both in fashion and in Europe, as well as the fourth richest person in the world with a net worth of $41 billion.
And now that you're all sufficiently depressed, I leave you to your dead-end jobs and enormous credit card debt. Thanks for playing. [Forbes]