- Richest Business › Richest Billionaires
- Net Worth:
- $3.4 Billion
- Businessperson, Entrepreneur
What is Lawrence Stroll's Net Worth?
Lawrence Stroll is a Canadian fashion tycoon, car collector and racing team owner who has a net worth of $3.4 billion. Lawrence Stroll earned his first fortune bringing Pierre Cardin and Ralph Lauren to Canada. He and a partner, Silas Chou, parlayed their success into an early investment in the brand Tommy Hilfiger. They invested in Tommy Hilfiger, becoming majority owners, in the late 1980s. In the next decade Tommy Hilfiger became one of the most successful fashion houses on the planet. Lawrence and Silas then used their Tommy Hilfiger success to make investments in a variety of other brands, including Michael Kors and Karl Lagerfeld through their investment company Capri Holdings. Today Capri Holdings generates around $6 billion in annual gross revenue.
Outside of fashion, Lawrence is known for his passion for cars. He has one of the most-admired and valuable private collection of vintage Ferraris. In January 2020 Lawrence and a group of partners bought around 17% of Aston Martin.
Lawrence's son Lance Stroll is a Formula One racing driver. Lance is one of a crop of billionaire offspring who have become Formula One drivers, much to the chagrin of non-billionaire trust fund babies like Lewis Hamilton. Lance races for Aston Martin, which his father partially owns.
Lawrence got his start in the fashion world in the 1980s, when he helped turn around the struggling French fashion brand Pierre Cardin. He worked closely with Cardin to revamp the brand's image and expand its product lines, ultimately increasing sales and profitability.
Next, Stroll went on to invest in American fashion designer Ralph Lauren, becoming a key investor in his eponymous brand. He significantly expanded Ralph Lauren's early success by bringing a Ralph Lauren women and children's clothing line to Canada, eventually developing that same clothing line throughout Europe.
Around this time, Lawrence came to know Hong Kong textile tycoon Chao Kuang-piu, the billionaire founder of South Ocean Knitters – one of the largest knitwear manufacturers and exporters in the world. Chao Kuang-piu's son, Silas Chou, would soon become a very integral aspect of Stroll's future success.
In 1989 Lawrence and Silas Chou partnered to launch a company called Sportswear Holdings. One of their first investments was acquiring a controlling stake in the brand Tommy Hilfiger, which at the time was unknown.
Over the next 20 years Stroll and Chou turned Hilfiger into an international phenomenon.
The Tommy Hilfiger brand experienced tremendous success in the 1990s, becoming one of the most popular and recognizable fashion brands of the decade. The brand's preppy, all-American style resonated with consumers and helped to establish the brand as a symbol of the era's youth culture. Hilfiger's sales grew rapidly during this period, reaching $25 million in 1992, $70 million in 1993, and over $100 million in 1994. By the end of the decade, the brand's annual revenue had surpassed $1 billion, making it one of the most successful fashion brands in history.
In 2000, Tommy Hilfiger's revenue came in just under $2 billion.
Lawrence and Silas took the company public in 1992. In 2006 the company was sold to Apax Partners for $1.6 billion.
Stroll and Chou parlayed this success into investments in brands like Karl Lagerfeld, Pepe Jeans, and Michael Kors. In 2002, Lawrence Stroll and Silas Chou signed a lease with Donald Trump for the first three floors of the corner of Trump Tower. They used that real estate to open up Asprey & Garrard's New York store in 2003.
They acquired the majority of Michael Kors in 2003 for $100 million and soon renamed their company Michael Kors Holdings.
They listed the company publicly in 2011.
In 2017 they bought Jimmy Choo for $1 billion.
In 2018, they bought Versace for $2.2 billion. With the Versace acquisition, Michael Kors Holdings was renamed Capri Holdings. Today Capri generates around $5.5 billion in global revenue.
In 2018 Stroll and a group of investors bought the Force India Formula One team. They renamed it Racing Point Force India then Racing Point F1 Team.
In January 2020 it was revealed that Lawrence and a group of investors had paid around $235 million for a 16.7% stake in Aston Martin. Not the racing team, the car company overall. In 2021 Racing Point F1 was renamed Aston Martin.
Lawrence is married to Claire-Anne Stroll. They have two children together. Their son Lance Stroll is a Formula One racing driver. Lance has raced for his father's F1 team.
Lawrence Stroll has homes in London, Mont Tremblant, Westmount and Mustique, a private island in the Carribbean.
Lawrence Stroll clearly has a passion for racing cars. He has a special eye for Ferraris and has one of the most valuable collections of the brand on the planet. His collection includes more than 30 Ferraris including a 250 GTO which is likely worth north of $50 million on its own since there are only 36 examples left in the world. He actually owns a private racetrack near Mont Tremblant, Quebec where he can race them at his pleasure.
Outside of Ferraris, Lawrence owns many McLarens, Aston Martins, a Ford GT and much more. Lawrence Stroll's car collection is easily worth $200 million. Perhaps more.
In 2014 he paid $27.5 million for a rare 1967 Ferrari GTB N.A.R.T.. He also is one of the lucky few people on the planet who owns a Ferrari 250 GTO. There are only 36 left in the world and they have been known to sell privately for $50+ million. He also owns a LaFerrari, which typically runs around $4 million. At one point he actually owned the Ferrari dealership of Quebec.