Ralph Lauren Net Worth $5.7 billion
Ralph Lauren salary $50,000,000
Ralph Lauren Net Worth: How rich is Ralph Lauren? & How much money is Ralph Lauren worth? Time to find out!
Ralph Lauren is an American fashion designer, philanthropist, and business executive and his current net worth is $5.7 billion.
Born in The Bronx, New York City to Frieda and Frank Lifshitz, an artist and house painter from Belarus, both Ashkenazi Jewish, Ralph is the youngest of four siblings.
Growing up, he attended school, after which went to MTA, which is now Marsha Stern Talmudical Academy. He graduated from DeWitt Clinton High School.
As teenager, her played basketball and baseball and dreamed about following the footsteps of Joe DiMaggio, and later a movie star.
Ralph went to Baruch College, at the City University of New York, where he studied business, but dropped out after two years.
In the early 1960s he enrolled in the United States Army but left to work for a short period for Brooks Brothers as a sales assistant. Then he became a salesman for a tie company.
He started his own business, The Ralph Lauren Corporation, in 1967, selling men’s ties.
Ralph used to work for the tie manufacturer Beau Brummell, at 28 years old.
He convinced the company’s president to let him start his own line. Because of his interest in sports he named his first collection, released in 1968, Polo.
Lauren used to work out of a single drawer from a showroom in the Empire State Building. He even made deliveries to stores himself.
How did Ralph Lauren get famous?
A year later, in 1969, the Manhattan department store Bloomingdale’s sold his men line exclusively. After the store sold his merchandise, it became the first designer to sell their own line in the boutique.
In the early 1971 his corporation released a line of tailored shirts for women. It also introduced for the first time to the world, the Polo player emblem, which is now a famous symbol.
The following year, Ralph Lauren introduced a full women’s collection. Also in the same year it marked the opening of Lauren’s store on Rodeo Drive, in California. It became the first freestanding store for an American designer.
Then in 1972, the company released a signature cotton mesh Polo shirt in different colors, featuring the polo player logo. The shirt became emblematic, as one of Ralph Lauren’s signature styles.
Two years later he dressed the male cast of The Great Gatsby in costumes from his Polo line. Except the pink suit, which Lauren designed it especially for Robert Redford’s Jay Gatsby.
Movie stars Diane Keaton and Woody Allen wore Lauren’s clothes on the set of Oscar-winning film, Annie Hall.
During the same period he released the first Ralph Lauren fragrances, produced by Warner-Lauren, Ltd.
Later, after the release of two fragrances for men and women, the company went international.
In 1992 they introduced The Polo Sport line, as well as over ten additional lines and acquired brands, including Ralph Lauren Purple Label.
A few years later the company became a publicly traded company on the New York Stock Exchange.
Then, Ralph Lauren opened its first restaurant, and a few years later they entered the online market with their official website, and online shop.
Meanwhile, Ralph Lauren stepped out as the CEO of the company, but remains chairman of the $7.4 billion (sales) company and also controls 82% of the voting rights. His son David, became chief innovation officer and vice chairman of the board in October 2016.
Throughout its brand life, Ralph Lauren appeared on over 100 global magazine covers, including GQ, and Forbes.
Apart from his brand, Lauren is also an avid car collector. His collection valued at more than $300 million, may be one of the world’s most valuable.
Among the cars he owns we recall, a 1962 Ferrari 250 GTO, three 1996 McLaren F1’s, a Mercedes-Benz 300 SL Gullwing.
His cars have won “Best in Show” at the prestigious Pebble Beach Concours d’Elegance twice, his 1938 Bugatti Type 57SC Atlantic won in 1990 and his 1930 Mercedes-Benz SSK “Count Trossi” roadster won in 1993.