Fashion’s Newest Billionaire

Michael Kors was listed in Forbes magazine's annual listing of the world's billionaires. Image from http://www.buro247.com/
Michael Kors was listed in Forbes magazine's annual listing of the world's billionaires. Image from http://www.buro247.com/
Michael Kors was listed in Forbes magazine’s annual listing of the world’s billionaires. Image from http://www.buro247.com/

Forbes Magazine’s annual listing of Billionaires have a new entrant from the fashion world. American designer Micahel Kors joins Tory Burch, Sara Blakely (Spanx), Renzo Rosso (Diesel Jeans), Nicolas Puech (Hermes), Domenico Dolce and Stefano Gabbana(Dolce & Gabbana), and the Cassegrain family (Longchamp), Miuccia Prada, Ralph Lauren, Gerard and Alain Wertheimer (Chanel), and Giorgio Armani as part of the industry’s elite club of billionaires.

Fashion icon Michael Kors has flirted with billionaire status for over two years, ever since his eponymous company went public in December 2011. But now he has finally arrived…

The longtime Project Runway judge (he quit after Season 10) saw his net worth skyrocket in December 2011, when his fashion house debuted on the New York Stock Exchange, popping 25% in its first day of trading.

Read more about it here