Ralph Lauren
Billionaire Fashion Mogul

Ralph Lauren is an American fashion designer, whose current net worth is estimated to be $7 billion U.S dollars. Lauren is a self-made billionaire, having accumulated his wealth through his immensely popular clothing labels and brands.

Polo Ralph Lauren is the most famous known brand which he launched with a $50,000 loan in 1967, taking it public in 1997.  The company traded on the New York Stock Exchange under the symbol ‘RL’. On January 2010, The Financial Times reported that the firm had revenues of about $5 billion for fiscal year 2009.

Lauren was born on 14th October, 1939 in New York City. This fashion mogul was born Ralph Lifshitz, but changed his second name due to the name’s unfortunate obscene implications in English. Some allegations were made that it was because he didn’t want to be Jewish but he strongly denied the allegations. Lauren Joined the Branch College in New York to pursue a degree in business although he didn’t finish. He started by selling men’s wear, later designing his own men clothes, neckties and finally, added a women’s wear line. In the year 1970, Lauren won the COTY Award for his menswear line.

Lauren used an innovative idea where he designed women clothing in a style associated with men, which gave him a huge success. He is currently one of the most famous and triumphant fashion designers in the United States. Lauren now owns a total of 35 boutique shops in America. Besides his great love for fashion, Lauren is also known to be an avid collector of automobiles. Some of the cars under his collection are extremely rare.

He owns more than 70 automobiles, the majority of which are held in his estate in Katonah, New York. His automobile collection features 2 Ferrari 250 Testa Rossas, 1 1962 Ferrari 250 GTO, a Mercedes 300SL Gullwig, a Bugatti Type 57SC Atlantic Porsche 997 GT3 TS, and a Lamborghini Reventon among many others. Some of his cars have been displayed in museum exhibit.

On 20th December, 1964, Lauren married Ricky Anne Lowe-Beer, the daughter of a Jewish father and an Australian mother. The two met six months prior to their wedding that took place in New York City. Lauren and Anne were blessed with three children – Andre Lauren, who was born in 1969, David Lauren, who was born in 1971 and Dylan Lauren, who was born in 1974.

Andrew is an actor and a film producer, while David is the Senior Vice President of Advertising, Marketing and Corporate Communications at Polo Ralph Lauren. Dylan, on the other hand, is the owner of Dylan’s Candy Bar, which is alleged to be the largest candy store in the world.

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References:

Forbes (The ultimate site for billionaire rankings)

CelebrityNetWorth (The ultimate site for net worth of celebrities)

TheRichest (Great site for things about money and rich people)

Wikipedia (Greatest site on earth for lots of information)