Bloomberg Billionaires Index

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# 208 Les Wexner $8.95B

Random fact: Parents were Russian immigrants who opened retailer called Leslie's.

Overview

Wexner is the founder of L Brands, the former co-owner of around 2,700 women's apparel and beauty stores. The Columbus, Ohio-based changed its name to Bath & Body Works in 2021 when it spun-off its Victoria's Secret chain. Bath & Body Works reported revenue of $11.1 billion in the year to Jan. 29, 2022.

As of :
Last change -$76.4M ( -0.8%)
YTD change -$1.12B ( -11.2%)
Biggest asset Cash
Country / Region United States
Age 85
Industry Retail
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Les Wexner's net worth of $8.95B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Wexner's fortune is derived from the proceeds of investments in L Brands, the retailer that changed its name to Bath & Body Works in 2021. L Brands had about 2,700 company-owned stores prior to its re-organization, according to its website.

Wexner controls almost 2% of the Bath & Body Works' shares directly, according to a July 20, 2021 company filing. Earlier that month, he sold about 30 million of his 35 million shares to investors and the company, according to a company prospectus.

The value of his cash investments is based on an analysis of dividends, insider transactions, taxes, charitable giving and market performance.

Tammy Roberts Myers, a spokeswoman for Wexner, declined to comment on the billionaire's net worth.

Biography

Birthdate: 9/8/1937
Family: Married, 4 children
Education: Ohio State University/The

Leslie Wexner was born to Russian immigrants on Sept. 8, 1937 in Dayton, Ohio. They owned and ran Leslie's, a small shop in downtown Columbus. He graduated from Ohio State University in 1959, and served in the Air National Guard, according to a biography on the company's website. After that, he worked at the family's shop.

Wexner started Limited Brands in 1963 as a single store in the Kingsdale Shopping Center in Columbus. It had sales of $160,000 in its first year. He started the business as a specialty retailer focusing on apparel and grew annual sales to more than $13 billion in 2019. The company, now known as L Brands, also sells lingerie and beauty products.

The billionaire vacated his position as chairman of L Brands in 2020. In the same year, the company sold a controlling stake in Victoria's Secret to Sycamore Partners.

Wexner has four children with his wife, Abigail.

Milestones
  • 1937 Leslie H. Wexner is born in Dayton, Ohio.
  • 1959 Graduates from the Ohio State University with a bachelor's degree.
  • 1963 The Limited opens its first store in Kingsdale Mall in Columbus, Ohio.
  • 1969 Sells shares in an initial public offering at $7.25 a share.
  • 1982 Buys Victoria's Secret store and catalog for $1 million.
  • 1985 Acquires Lerner 798 stores and one Henri Bendel boutique.
  • 1990 First Bath & Body Works store opens in Boston.
  • 2011 Donates $100 million to the Ohio State University.