Affect Magazine

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5 of the Wealthiest Fashion Designers in 2020

We know that luxury designer products are expensive, but have you ever considered what the owner of these companies themselves are worth? Well, if that question got your attention, read on as we discuss the five wealthiest fashion designers in the world right now.


Giorgio Armani

Renzo Rosso: Net Worth $3.5 Billion

Renzo Rosso is a designer and the billionaire fashion tycoon behind Diesel. As of 2020, Renzo Rosso also owns other high-end fashion houses such as Marni or Viktor & Rolf. He started off with his alternative line of jeans, and today, the designer’s influence on the industry is too far and wide to be measured accurately.


Miuccia Prada: Net Worth $2.4 Billion

After partnering up with Patrizio Bertelli, the granddaughter of Mario Prada (the founder) decided to take a different approach to her luxury designer house management. While Patrizio Bertelli concentrated on making Prada a top name in the industry again, Miuccia Prada concentrated all her skills on what she had always been known for; designing and creating top of the line, highest-end clothing, and accessories.


Giorgio Armani – Net Worth $8.3 Billion

A man of exquisite taste, class, and supreme fashion sense, Giorgio Armani holds the number one spot on this list right now and has been holding it for a long time now. Another designer who had humble beginnings, Giorgio Armani, his wealth and success is proof of the fact that billionaires can come from any background. Also, unknown to many, Mr. Armani is an ex-medical student and an army veteran!


Ralph Lauren – Net Worth $6.9 Billion

A classic name from USA’s own New York City, Ralph Lauren has taken a hit during the lockdown and its enduring effects on the fashion industry. It is estimated that his wealth has gone down by more than $1.2 billion since early 2020, and instead now stands at $5.7 billion. However, that still has done nothing to remove the tie-salesman turned fashion designer and billionaire from remaining on top as one of the richest designers on this planet!


Domenico Dolce: Net Worth $1.7 Billion

Dolce & Gabbana owes its first name to Domenico Dolce of course, and although the $1.9 billion seems quite diminutive in comparison to the giants already mentioned here, the fashion-school dropout turned billionaire fashion tycoon has surprisingly managed to add $.2 billion to his tally of wealth in less than a year. The year started with Domenico Dolce being worth only $ 1.7 billion, but surprisingly enough, he is one of the few billionaires in the fashion industry to gain money instead of losing it in 2020!


The rankings do change every few years, but it’s safe to say that none of these designers are about to go bankrupt anytime soon. After all, thanks mainly to online sales, the $2.5 trillion+ designer fashion industry managed to withstand the Covid-19 epidemic. It did take a significant hit, of course, but online sales have picked up and most of these fashion tycoons and designers are expecting a big turnaround in 2021.

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