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Gianni Versace's Net Worth 2018: An Insane Legacy 20 Years after the Couturier's Death
By: Caroline John - Published: January 18, 2018 at 10:17 am
Photo: youtube.com/watch?v=YWtaRvqvw9s
With the retelling of Gianni Versace's death in The Assassination of Gianni Versace: American Crime Story, the focus is now on the Italian designer's legacy. Gianni Versace's net worth in 2018 is estimated at $1.0 billion, thanks to which his family is rolling in millions.
The Assassination of Gianni Versace: American Crime Story premiered on FX last night (January 17). It showcased trailblazing Italian couturier, Gianni Versace's fashion empire.
Versace brought fashion, music, and royalty together. After his life was abruptly cut short, his sister, Donatella Versace, made his fashion house a strong presence throughout the entertainment industry.
The label never goes out of style and is still going strong today. As a result, the slain Versace owner has amassed an estimated $1.0 billion net worth decades after his death.
Keep reading to know more about the fashion mogul's billion-dollar empire right here.
How Rich Was Gianni Versace?
– Giovanni "Gianni" Versace was born in Italy, on December 2, 1946; he was the middle of four children born to dressmaker Francesca Versace and her husband.
– Influenced by Greek history and the art that surrounded him as a child, he started as an apprentice at his mother's sewing business.
– Versace moved to Milan at the age of 26 to begin a career in fashion design.
– In 1973, he designed for Byblos by Genny's, an Italian ready-to-wear line; it later became independent and is still running today.
– With the positive reception of his designs, the couturier presented his first signature collection for women at the Palazzo della Permanente Art Museum of Milan; this was followed with his first fashion show and boutique in Milan's Via della Spiga in 1978.
– Gianni Versace made fashion shows a spectacular event, which gave rise to "supermodels" by agreeing to pay exorbitant paychecks to the "fab four" models of that time—Naomi Campbell, Cindy Crawford, Linda Evangelista, and Christy Turlington.
– The designer picked the best photographers like Richard Avedon to showcase his collections.
– Versace combined fashion with music and royalty; his close friends and biggest clients were the late Princess Diana and rock 'n' roll elites like Elton John, Cher, Madonna, and Sting.
– Gianni Versace's house in Italy, Villa Fontanelle, was sold in 2008 for £26 million.
– Casa Casuarina, Gianni Versace's Miami mansion where he was killed, was sold in 2000 for $19.0 million and operates as a boutique hotel.
Here's how Versace's current value compares to other mega-designers, both dead and alive:
Gianni Versace's net worth $1.0 billion
Giorgio Armani $9.6 billion (9.6 times smaller)
Miuccia Prada $11.1 billion (11.1 times smaller)
Stefano Gabbana $1.7 billion (1.7 times smaller)
Domenico Dolce $1.7 billion (1.7 times smaller)
Alexander McQueen $30 million (33.3 times larger)
Coco Chanel $100 million (10 times larger)
Donna Karan $500 million (2 times larger)
Valentino Garavani $1.5 billion (1.5 times smaller)
Carolina Herrera $130.0 million (7.69 times larger)
Roberto Cavalli $500.0 million (2 times larger)
Gianni Versace's Posthumous Empire
– Gianni Versace was killed by serial killer Andrew Cunanan on July 15, 1997.
– After his death, his wealth was divided among his family and boyfriend of 15 years, Antonio D'Amico; his will was reportedly drafted when he was suffering from cancer.
– Versace left 50% of his empire to his favorite niece, Donatella Versace's daughter, Allegra Versace, who was 11 at the time of his death; she inherited her stake in Versace S.p.A. when she was 18.
– In 2013, Allegra Versace's stake was valued at an estimated $2.3 billion; with a $900.0 million estimated net worth, she is the richest Versace alive.
– Gianni Versace's expensive art collection went to Allegra Versace's younger brother, Daniel Versace.
– Versace's boyfriend, Antonio D'Amico, was to receive approximately $29,000 as a monthly pension and the right to live in any of his homes around the world; he had a strained relationship with the Versace family, which led to him receiving only a fraction of the pension, and a restricted right to live in Versace's homes.
– Gianni Versace's elder brother, Santo Versace, became the CEO of Versace S.p.A. and his sister and business partner, Donatella Versace, was named the head of design house.
– The remaining 50% of Versace's empire was split between his siblings; Santo Versace got 30% while Donatella Versace got 20%.
Donatella Versace revived House of Versace and made it known for its designs and not the tragedy. She continued to build the empire, which is reportedly worth $1.7 billion today.