Giorgio Armani
Billionaire Fashion Tycoon

Published on March 21 2014

Giorgio Armani Net Worth : $9.9 Billion

Giorgio Armani is the 79 year old Italian born founder and owner of Giorgio Armani S.p.A. (a fashion house). He currently has a net worth of $9.9 billion making him the 5th wealthiest person in Italy. He is also critically acclaimed as the most accomplished Italian fashion designer.  Moreover, his fashion house is one of the largest in the world.

Giorgio is a self-made man whose life is truly a story of rags to riches. Having been born poor, he began his career as a fashion designer in the 60’s when he worked as a freelance men’s wear designer for various fashion houses in Italy. This was after he had dropped out of medical school and had a short stint in the army. With the experience he had gathered designing for others; Armani started his own fashion label Giorgio Armani S.p.A. in 1975.

To grow his brand, Armani adopted an aggressive advertising strategy that involved various media including: television ads, an in-house magazine, live streaming of his fashion shows online and even designing costumes for several movies. In fact, prior to 1980, Armani was enjoying a good following in Europe but the United States was still untapped; it was the clothes that Richard Gere wore in American Gigolo that propelled Giorgio into the hearts and wardrobes of Americans.  

What’s more, he diversified his line to include virtually everything including socks, swimwear, fragrances, ski-wear and even phones (for Samsung) leaving his adoring fans spoiled for choice. Consequently, this all-rounded dynamic business acumen has seen the fashion house grow to over 300 stores in 37 countries.

Notwithstanding, clothes are not Armani’s only interest: he owns two luxurious hotels: the Armani Hotel in Dubai and its namesake in Milan. He also owns several restaurants in Santiago, New York and Dubai among other locations. Additionally, Giorgio also has an eye for sports and is actually an Inter Milan fan. However, he is not just an ordinary fan; he has actually designed suits and uniforms for various teams including England’s national soccer team and Chelsea Football Club.

Apart from his talent on the runway, Armani has also touched lives with generous donations to various charitable causes. Notably is the Giorgio Armani Aqua for Life Promotion whereby Giorgio Armani Fragrance is the 2014 national sponsor for UNICEF’s Tap Project. Moreover, in 2009, during the opening of Armani’s Fifth Avenue store, he opted to give a donation of $1 million to the Fund for Public Schools for the enrichment of arts education in the cities most under-funded schools. This was instead of holding a lavish show and dinner for the city’s elite. 

Giorgio remains single, he however works with two of his nieces: Silvana and Roberta and Rosanna (his sister) in his businesses. He has various residences around the world; in fact, he owns 10 extremely luxurious homes, five of which are in Italy with the others in Switzerland, New York, Antigua and Pantelleria in Sicily. He also owns a luxury yacht: Maìn (a 65-metre Codecasa that he loves to sail).

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References:

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