Ralph Lauren Biography & Net Worth
Ralph Lauren Biography & Net Worth
|October 14, 1939
The Bronx, New York, United States
Ricky Lauren (m. 1964)
Ralph Lauren KBE is an American billionaire businessman, fashion designer, and philanthropist. He is most renowned for founding the global multibillion-dollar enterprise, Ralph Lauren Corporation. He has become famous for his collection of uncommon automobiles, some of which have been put on display in museum exhibits. In 2015, Lauren stepped down as the chief executive officer of the Ralph Lauren Company. Despite this, he remains chief creative officer and executive chairman. Ralph Lauren net worth has come as a result of the gains he has made from his strings of businesses. His wealth was estimated by Forbes in 2020 to be $7 billion, and this makes him the 102nd richest person in America, and one of the richest men in the world. Read on for Ralph Lauren’s biography, businesses, salary and many important facts.
Ralph Lauren’s Early Life
Ralph Lifshitz was born in Bronx, New York, United States on October 14, 1939. His parents, Fraydl and Frank Lifshitz were Jewish immigrants.
He studied at Baruch College and later at the MTA, but finally graduated from DeWitt Clinton High School, in 1957. When he was 16 years of age, he changed his name from “Lifshitz’ to ‘Lauren’ because his last name was constantly mocked by other children. He sold neck-ties to his friends and classmates while he was in school.
Ralph was a student of business at Baruch College before dropping out to focus on other things. He joined the United States Army in 1962 and served there for two years before moving on to work as a sales assistant with the Brooks Brothers.
In 1966, Lauren became tremendously inspired to make his own designs of European-styled neckties, but the corporation he was working for, shrugged it off as an impractical project. This made him leave the company and sought after ways to succeed on his own. Lacking capital and adequate materials, Ralph made use of rags, which he converted to ties and sold from one small shed to another in New York. After initially struggling alone by himself, he experienced breakthrough when he met Neiman Marcus who bought a hundred dozens of his ties, and thus ignited Ralph’s career journey in the world of fashion.
Ralph Lauren’s Career
After Ralph Lauren dropped out of college where he had only been for two years, he joined the United States Army for two years before leaving to work with a firm as a sales assistance. He also worked for Beau Brummel for some time, before launching his own business. In 1967, Ralph Lauren founded the ‘Ralph Lauren Corporation,’ a business known for making clothing, fragrances, and home accessories. He was highly interested in sports and called his first line of menswear ‘Polo’. In 1971, his company commenced the making and sales of tailored women shirts. He also launched the Ralph Lauren Store in Beverly Hills, California, in the same year.
Lauren expanded his business in 1978 when he started producing Ralph Lauren fragrances. He later began producing fragrances for women and cologne for women. By 1981, Ralph Lauren Corporation had gone international and also ventured into the European market.
In 1986, Ralph Lauren started his flagship in Rhinelander mansion. His company went public in 1997 and was traded on New York Stock Exchange. Two years afterwards, Lauren opened the “RL Restaurant”, and later went on to open two more restaurants. The brand “American Living” was created by his corporation in 2008.
Awards & Achievements
Mr. Lauren has performed exceptionally well throughout the phases of his career, and evidence of this not only lies on the size of his wealth, but also on the important number of awards and accolades he has received so far. In 2007, he was presented with the American Fashion Legend. In 1997, he received the Humanitarian Leadership Award, and was inducted into the Fashion Walk of Fame in 2000. In 1985, Menswear Association conferred him with America’s Designer Achievement Award. He is also a winner of the Coty “Winnie” Award. Additionally, he finished the year 1975 as a winner of the American Fashion Award.
Personal Life & Family
Ralph got married to Ricky Anne Loew-Beer in 1964. They have three children together, including Dylan Lauren, David Lauren and Andrew Lauren.
In 1987, Ralph Lauren was diagnosed with a non-threatening tumor in his brain. He underwent surgery and successfully removed the brain tumor.
A philanthropist, Ralph has established ‘The Polo Fashion School’, ‘Ralph Lauren Center for Cancer Care’, ‘American Heroes Fund’, and the Nina Hyde Center for Breast Cancer Research. He has been appreciated in many ways, and has been honoured by various organizations for his contributions to philanthropic works.
This famous fashion designer is known to own a multi-billion dollar fashion house. He reportedly owns approximately 70 automobiles in his New York estate. His line of automobiles includes Bugatti, Mercedes, Ferraris, McLaren F1s, Porsche, Lamborghini, and a Blower Bentley just to name a few.
Ralph Lauren Net Worth
As of the time of filling this report, Ralph Lauren net worth is $7 billion and this makes him one of the wealthiest men in the United States. His wealth comes from the global multi-billion-dollar enterprise, Ralph Lauren Corporation which he founded more than 50 years ago. He reportedly owns a 17,000-acre cattle ranch, and his car collection is said to worth more than $350 million.
Considered one of the most popular and richest fashion designers in the world, Ralph Lauren is a global icon and celebrated philanthropist. His designs have been worn by many celebrities and influential people all over the world.