Michael Kors

Michael Kors Is Now a Billionaire

Forget private islands, elite boarding schools, and friends of Hillary. The best club to belong to is the billionaire's club — and Michael Kors has just joined it.

Bloomberg reports that with shares of the public company jumping nearly 20% today, after posting better-than-expected quarterly profits, the designer's 2% stake in his label equalled big money, enough to take him over the B hump.

So say what you will about the less-than-cutting-edge designs, because the man's net worth has nine zeros on the end. So let's take the high road and congratulate him on 33 years worth of empire-building. Clearly, it paid off. Someone in alumni outreach at FIT is calling him right now. 

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Feb 04, 2014 17:41:00

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