What is Tommy Hilfiger Net Worth in 2019 and how did the fashion designer whose brand is known world-wide amass such a fortune? Read on to find out about his childhood, his sojourn into the world of fashion design and more about his net worth.
Who is Tommy Hilfiger?
There is one name you will mostly see in trousers, shirts, jacket and other forms of clothes and that’s the name Tommy Hilfiger but who is the brain behind it.
Well, it is no other than the person of Tommy Hilfiger who is an American fashion designer and entrepreneur whose work bears testament to his skills. Hilfiger designs both male and female clothes.
He is currently among the top fashion designers in the world. In 2012, the Council of Fashion Designers of America gave him the prestigious Geoffrey Beene Lifetime Achievement Award for his contribution to fashion.
Tommy Hilfiger Net Worth as of today is $400 million making him one of the richest fashion designers in the world.
|Net Worth||$400 million|
|Date of Birth||March 24, 1951|
Thomas Jacob Hilfiger whom we refer to as Tommy Hilfiger was born on the 24th of March 1951 in the US state of New York.
His father Richard made and repaired watches while his mother Virginia was a nurse by profession. They had nine children and Tommy been the second.
Tommy Hilfiger was so lean that he needed to put on some weight to be part of the Elmira Free Academy High school football team.
Upon graduation in 1970, his parents pursued him to attend college but at first, didn’t oblige but later accepted as he briefly attended GST BOCES Bush Campus in Elmira.
After working for some time at Cape Cod a clothing store, Hilfiger in 1971 decided to start his own clothing store People’s Place with an initial capital of $150. He bought his products from New York but with time felt he could design clothes far better than what he was buying.
Due to his lack of knowledge in management, his business went bankrupt in 1977. He wasn’t deterred by that and decided to attend managerial and business classes as well as study more on fashion designing.
He started up the following clothing companies Hill Tommy in 1971, 20th Century Survival in 1981, and Click Point in 1982. The companies specialized in the design and production of jeans and female clothes.
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Hilfiger wasn’t satisfied with his present success decided to grow bigger and partnered with the Murjani Group to start up Tommy Hilfiger Corporation in 1985. The company partnered with different individuals and grew enormously expanding its branches all over the world.
A show was created by CBS titled The Cut that showed prospective fashion designers compete to work under Hilfiger and learn from his wealth of experience.
He later sold his company in 2006 to an investment company Apax Partners for $1.6 billion but retained the position of Chief Designer. He later sold it to Phillips-Van Heusen in 2010 for $3 billion. The company annual sales in 2014 were $6.7 billion and are increasing daily.
He married Susan Cirona in 1980 after dating her for four years. The couple had four children of which Ally and Richard are the most known. The marriage ended in 2000 after a divorce was finalized.
In 2008, Hilfiger married Dee Ocleppo and they had a son in 2009. Hilfiger parents are Catholics and are of Dutch, Irish and German descent.
How did he amass such wealth?
Tommy Hilfiger Net Worth as of today is $400 million which he earned from his business and career as a fashion designer.
On average, the company annual sales are $3 billion dollars and Hilfiger despite been the chief designer still owns a major share in the company.
With branches around the world dealing with clothes and perfumes, Tommy Hilfiger has become a brand to be reckoned with worldwide.
He owns an apartment in Manhattan and also a house in Palm Beach Villa both worth over $8 million. His estate in Stone Hill Estate in Connecticut is worth over $20 million and his hotel is worth $50 million.
His garage comprises of a Ferrari Enzo worth $670,000 and a Jeep Grand Wagoneer valued at $140,000.