Domenico Dolce
Billionaire Co-Founder of Dolce & Gabbana

Published on March 28 2014

Domenico Dolce is a 55 year old Italian and the co-founder of the Dolce & Gabbana fashion house. His net worth is currently $1.8 billion making him the 15th wealthiest individual in Italy.

Dolce was born and raised in Sicily and fashion is practically in his blood since his father was a tailor and his mother sold clothes and fabric. As it happens, Dolce could sew by the time he was just 6 years old. At the age of 19 he left Sicily for Milan where he was a student at the Marangoni Institute for a few months before dropping out. Domenico then found a job working in a fashion house owned by Giorgio Correggiari.

As fate would have it, Dolce met his soon to be business partner, Stefano Gabbana, in a Milan night club and proceeded to land him a job with Giorgio Correggiari. From this point the pair began to work together and in 1985 they founded the Dolce & Gabbana fashion label. However, the going was not easy during those initial days and they took every chance they got to showcase their work including holding shows in fast-food joints.

Moreover, they used their friends as models and bed linens for curtains but all the hard work has definitely paid off. Today, their label boasts of more than 250 stores in 40 countries selling their high-end clothing, eyewear, leather goods, accessories and footwear.

Notwithstanding, Dolce and his business partner Gabbana have recently found themselves on the wrong side of the law when an Italian court found them guilty of tax evasion. Consequently, they were sentenced to one year and eight months in jail plus a fine of €500,000. The sentence was however suspended as the pair filed an appeal while vehemently denying the allegations.

Tax issues aside, Dolce and Gabbana are also spending their money on the less fortunate. As such, in 2011, through their fragrance ‘the one gentleman’ they held a promotion to raise funds for the Matthew McConaughey's Foundation.

This foundation helps teenagers to live healthy lives so as to become remarkable adults in the future. Moreover, they have sponsored a charity show in support of Children’s Action Network an organization that uses the entertainment industry to highlight the plight of children. 

Dolce remains single and still resides in Milan, Italy. He and Gabbana co-own the Regina d'Italia, a 51m motor yacht that is quite spectacular.

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References:

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