Gianni Versace Net Worth

Giovanni Versace was a worldwide famous fashion designer, socialite, and entrepreneur from Italy. Versace, a worldwide luxury fashion brand that manufactures accessories, perfumes, make-up, home furnishings, and clothing, was founded by him.

Versace was born in Reggio, Italy, on 2 December 1946. His mother, Francesca, was a seamstress, thus he was exposed to fashion from an early age. He had an elder brother, Santo, and two sisters, Donatella, the younger, and Tina, the older. Before starting his apprenticeship at his mother’s sewing company, Versace attended Liceo Classico Tommaso, where he studied Latin & Greek and developed an interest in ancient Greek history. He learnt all of the fundamentals of clothing construction while working with a dozen other seamstresses.

Following a successful fashion presentation including his first distinctive collection, Versace established his first store in Milan’s Via della Spiga in year 1978. His vibrant & bright patterns drew a lot of attention since they were so different from the bland and plain styles that were popular at the time. He picked a picture of Medusa, the Greek legendary heroine who had the power to make people fall in love with her, as the company’s logo.

Versace extended his empire into textiles, home furnishings, and jewelry within a few years after founding the brand in year 1982. In year 1989, he elevated the company even further by establishing Atelier Versace, which specialized in haute couture creations. He is also credited for popularizing the concept of the supermodel, as he assisted in the discovery of Christy Turlington, Linda Evangelista, and Naomi Campbell, among others.

Versace was interested in costume design for the theatre and theatre in addition to making his own creations for the Versace brand. Given his fondness for color and drama in apparel, he was well suited to this assignment. He collaborated closely with Milan’s La Scala Theatre Ballet, designing costumes for numerous of the company’s productions.

He also designed costumes for 5 Bejart Ballet shows in the 1980s, and in 1990, he collaborated with the San Francisco Opera to create costumes for Capriccio. He has collaborated with a number of well-known musicians, creating costumes for Michael Jackson, Paul McCartney, and Elton John on their different tours.

Versace had total creative control over all of the numerous sectors of his fashion company until his death, which was highly unusual. He had created 130 stores throughout the world, and the Versace brand was worth more than $807 million.

Versace had a vast circle of famous acquaintances and led a busy social life, attending several parties throughout the world as his popularity grew. He met model Antonio D Amico in year 1982 and began a long-term relationship with him.

Versace was a loving person despite not having children of his own. Santo had two children, Francesca and Antonio, and his sister Donatella also had two children, Allegra and Daniel.

Versace opted to walk from his Miami Beach house in July of 1997, at the age of 50, to acquire the morning paper, a chore typically performed by his helper. He was shot in the head at point-blank range while heading back up the steps of his estate and was pronounced dead at the hospital shortly after.

Versace was cremated and buried in Como, Italy, in a family crypt. More than 2,000 people attended his burial in Milan Cathedral, including Elton John and Diana, Princess of Wales.

Gianni Versace, at the time of his death in 1997, had a net worth of $1 billion. Gianni was the owner and founder of the now brand Versace which expands to whole of the world. And the brand was the main reason Gianni had high net fortune at the time of his death.

This brand has been recognized for its unusual designs throughout the years. In December 2018, Michael Kors Holdings purchased the firm for $2.12 billion, however Donatella Versace remained as the creative director.