Gianni Versace Net Worth
Gianni Versace net worth and wealth: Gianni Versace was an Italian fashion designer who had a net worth of $1 billion at the time of his death in 1997. Gianni Versace earned his net worth by being the founder of the Gianni Versace fashion label, which became an international icon with products ranging from fragrances, makeup and clothes to furnishings and more. Versace was born in Reggio Calabria, Italy. During his career, Gianni Versace established himself as one of the most colorful and talented designers of the late 20th century. He fabricated his designs under profound influence of Andy Warhol, Ancient Roman and Greek art as well as modern abstract art. He opened the first boutique in Milan's Via della Spiga in 1978, and thus brought to life the famous fashion tag Versace. As his popularity among fashionistas grew, he befriended with numerous notable people like Diana, Princess of Wales, Madonna, Elton John, Cher, Sting among many others. The openly gay clothier could be also spotted on the international party scene hand in hand with his partner Antonio D'Amico. Unfortunately, Gianni Versace was shot to death in front of his Miami mansion by spree killer Andrew Cunanan in 1997. Following Versace's horrible murder, his growing fashion empire was taken over by his brother Santo Versace and Gianni's partner Jorge Saud, who became the new CEOs of the Versace holding company. His sister Donatella took charge of the design department. Even though no longer among us, Versace left a unique mark in the world of fashion that will never fade. Upon his death, Gianni left a 50% stake in his company to his niece Allegra who was 11 years old at the time. His brother Santo inherited 30% and Donatella inherited the remaining 20%. In 2014, Versace sold a 20% stake in the firm to private equity firm Blackstone. The investment valued Versace at roughly $1.4 billion. On September 25, 2018, Michael Kors Holdings announced it had struck a deal to acquire Versace for $2.2 billion.