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#443 Miuccia Prada $4.50B

Random fact: Prada's headquarters moved back to Italy in 2015.

Overview

Prada is a co-chief executive officer of Prada SpA, the Italian luxury-goods company. She has run the Milan-based fashion house since the late 1970s with her husband and co-CEO Patrizio Bertelli. The publicly traded company had revenue of 3.1 billion euros ($3.5 billion) in 2017. Its labels include Miu Miu, Prada and Church's.

As of April 23, 2018:
Last change -$84.7M (-1.9%)
YTD change +$930M (+26.1%)
Industry Consumer
Biggest asset 1913 HK Equity
Citizenship Italy
Age 64
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Miuccia Prada's net worth of $4.50B can buy ...

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Latest News

Net Worth Summary

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Confidence rating:

The majority of Prada's fortune is derived from her 28 percent stake in Milan-based Prada SpA, the publicly traded Italian fashion company she joined in the late 1970s. She holds her shares through Luxembourg-based Prada Holding, according to the 2016 annual report, published on its website.

The billionaire collected about $675 million selling shares in the company's initial public offering in 2011, and has received more than $300 million of dividends through December 2017, according to company filings and an analysis of Bloomberg data. The value of her cash investments is based on these proceeds, market performance, insider transactions, taxes and charitable contributions. The value of her cash investments is based on an analysis of dividends, market performance, insider transactions, taxes and charitable contributions.

Through Stefano Cantino, Prada Group's director of communication, Miuccia Prada declined to comment on her net worth.

Biography

Birthdate: 5/10/1948
Family: Married, 2 children
Education: 1970, Universita DI Milano, Graduated, Political Science

Miuccia Prada was born in Milan in 1948, the youngest granddaughter of Mario Prada, who founded the eponymous fashion house in 1913. The company, which started as single store selling trunks, handbags and other leather accessories on Milan's Galleria Vittorio Emanuele II, was a big success. After six years, it became an official supplier to the Italian royal family.

The family fashion business was not Miuccia Prada's first professional pursuit. After earning a doctorate in political science from the University of Milan she became a mime, studying under Giorgio Strehler at Milan's Piccolo Teatro. It was not until the late 1970s that she decided to join the family company, helping to run the flagship Milan store. In 1977, she met Patrizio Bertelli, a fashion entrepreneur from Arezzo in Tuscany, who had built a leather-goods company, I Pellettieri d'Italia, I.P.I. Miuccia hired him to be one of Prada's main suppliers. They married in 1987.

As Miuccia's mentor, Bertelli helped her expand the company beyond its original flagship shop and into new products, such as footwear and men's and women's ready-to-wear apparel. Beginning in 1986, Prada opened new stores in New York, Madrid, London, Paris and Tokyo. The couple helped oversee Prada's development into a global luxury powerhouse. The company acquired new labels -- including men's footwear brand Church's -- and also opened its own, including Miucca's line Miu Miu in 1993.

Prada announced plans to go public on the Hong Kong stock exchange in January 2011, with a target to raise as much as $3 billion. The June IPO ended up raising $2.14 billion after cutting the final share price by almost a fifth due to weak demand from retail investors.

Miuccia, Prada's chairman, lives in Milan with Bertelli, its chief executive, and their two sons, Lorenzo and Guilio.

Milestones
  • 1948 Miuccia Prada Bianchi is born in Milan, Italy.
  • 1970 Gets degree in political science from Milan State University.
  • 1977 Meets future husband Patrizio Bertelli; brings him into Prada.
  • 1987 Marries Bertelli and continues to oversee Prada's expansion.
  • 1998 Prada takes 9.5 percent stake in Gucci; later sells it to LVMH.
  • 1999 Buys a 25.5 percent stake in Italian luxury brand Fendi.
  • 2011 Raises $2.1 billion in an initial public offering.
  • 2014 Prada Holding investigated for possible tax evasion.