Michael Kors is an American fashion designer with an estimated net worth of $1 billion. Kors is best known for designing women’s wear pieces and jewelry. He is 5’10″ and weighs 186 pounds. Michael Kors was born Karl Anderson, Jr. on August 9, 1959 in Long Island, New York. He changed his name after his mother got remarried. Kors’ mother was a former model and she introduced him to the fashion world at a young age. When he was just five years old, Kors designed his mother’s dress for her second wedding. As a teenager, Michael Kors began designing apparel and selling it out of his parent’s basement.
In 1977 Michael Kors enrolled into the Fashion Institute of Technology in New York City. After only nine months at the institute he dropped out. He began selling his designs at a boutique across the street from the Bergdorf Goodman on 57th street. He quickly got discovered by Dawn Mello, the fashion director at Bergdorf Goodman. She allowed him to show off his collection to her store’s buyers. They were impressed by how work and Kors’ designs have been at the luxury retailer ever since.
In 1981 Michael Kors launched his women’s wear line at Lord & Taylor, Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman. By 1993 he went bankrupt and was forced to discontinue his line for a couple of years.
In 1997 Michael Kors got his finances back in order and re-launched his line with lower price points. That year he was also named the first-ever women’s ready-to-wear designer for French luxury fashion house, Céline. Kors created a critically-acclaimed ready-to-wear collection and accessories line for Céline. He left Céline in 2003 to focus on his own brand and launch his menswear line.
Michael Kors has successfully launched sub-labels which offer mid-tier to runway collections. His collections offer women’s wear, men’s wear, shoes, handbags, watches, jewelry, and other accessories. He also has full collection boutiques in New York, Chicago, Beverly Hills, Palm Beach, and Manhasset (on the North Shore of Long Island).
Michael Kors has enough net worth to buy:
1. 17,094,017 Harry Potter Special Edition Paperback Box Sets ($58.50 each)
2. 23,463,163 Wizard Robe costumes ($42.62 each)
3. 85,324,232 Merlin Wig and Beard sets ($11.72 each)
Michael Kors has enough net worth to give everyone in the United States $3.15.