Members of Fashion’s Billionaires Club Among America’s Wealthiest Entrepreneurs

You know the brands, like the Gap, Victoria’s Secret, and Urban Outfitters, but what about the individual behind the brands, referred to as Fashion’s Billionaires Club? The Forbes Magazine list of American Billionaires includes only 11 names from the world of fashion, one of the hardest industries to make it into the Forbes 400.
Take newcomers husband and wife team Do Won and Jin Sook Chang, Korean-Americans that own Forever 21, reportedly worth $5.2 billion. That’s quite an accomplishment considering you can buy a dress at the chain store for about $20.00.
The 77-year-old owner of Victoria’s Secret, Leslie Wexner bought the brand for for $1m in 1982 and is now worth $6.3 billion.
The matriarch of Gap, Dorris Fisher is also an art buff with an extensive collection of works by ’60s American greats such as Andy Warhol, Roy Lichtenstein and Chuck Close. In fact, her art collection is worth almost as much as the popular store.
In his spare time, Richard Hayne from Urban Outfitters makes cheese in the Doe Run Dairy Farm in Pennsylvania. This former hippie opened his first apparel shop with his ex-wife in the mid-70s.
Bruce Nordstrom started working at age 9 in the stockroom and sales floor of the company his grandfather John W. Nordstrom and Carl F. Wallin founded as a shoe shop in 1901. He became president of the Nordstrom department store chain in 1963. 
Some of my favorite brands that didn’t make the cut include Michael Kors, who became a billionaire last winter only to lose that status when his company’s stock dropped, and Tory Burch, worth an estimated $1 billion, but not rich enough to make the $1.55 billion cut off for the Forbes 400.
Whether you are part of fashion’s billionaire club or not, if you looking to buy a luxury home in any of the upscale communities of Santa Barbara, please give me a call at 805.886.9378 or email me at Cristal@montecito-estate.com. Meantime, please like me on Facebook and twitter.