Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#231 Les Wexner $6.86B

Random fact: Bought Victoria's Secret store and catalogue for $1 million in 1982.

Overview

Wexner is founder and chairman of L Brands, the operator of more than 3,000 women's apparel and beauty stores. The Columbus, Ohio-based retailer has locations in the U.S., U.K., Canada and China, and reported revenue of $12.6 billion in the year to Jan. 28, 2017. Its stores includes Victoria's Secret, PINK and Bath & Body Works.

As of July 24, 2017:
Last change -$6.46M (-0.1%)
YTD change -$617M (-8.3%)
Industry Retail
Biggest asset Cash
Citizenship United States
Age 79
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Les Wexner's net worth of $6.86B can buy ...

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troy ounces of gold
0
barrels of crude oil

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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 his stake in L Brands, the publicly traded retailer formerly known as Limited Brands. He controls about 45 million shares of the business directly, through trusts and a retirement account, according to the proxy statement from May 18, 2017. The amount includes 10 million shares he gave to his second wife, Abigail, as well as 2 million shares held in a trust for his four children that, according to a 2001 filing, is revocable. L Brands has more than 3,000 company-owned stores, according to its website.

Wexner has collected more than $3.8 billion in dividends and share sales since 1982. The value of his cash investments is based on an analysis of insider transactions, dividends, 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: 1959, Ohio State University, Business Administration, Bachelor's Degree

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. The billionaire started the business as a specialty retailer focusing on apparel and has expanded it into a a business with more than $10 billion in sales. The company, now known as L Brands, also sells lingerie and beauty products.

Wexner, who has committed $100 million to Ohio State University's medical center, 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.