|Net Worth:||$450 Million|
|Date of Birth:||March 24, 1951 (71 years old)|
|Profession:||Businessperson, Fashion Designer|
|Nationality:||United States of America|
What is Tommy Hilfiger’s Net Worth?
Tommy Hilfiger is an American fashion designer who has a net worth of $450 million. When he was 18 years old, he began working in the fashion industry by purchasing jeans and redesigning them to sell in a shop in his hometown. With assistance from the Murjani Group, he then built The People’s Place, his own store, and in 1985, he established the Tommy Hilfiger Corporation.
The Council of Fashion Designers of America recognized Tommy Hilfiger as ”Menswear Designer of the Year” in 1995, and during his career, he has won numerous honors for his contribution to both fashion and charity.
Thomas Jacob Hilfiger popularly known as Tommy Hilfiger was born on 24 March 1951, in Elmira, New York. Tommy claims to be a direct descendant of poet Robert Burns and grew up in a Catholic home with 8 siblings. While he was younger, Hilfiger expressed enthusiasm for fashion, sports, and music.
He attributes this to his parents, who instilled in him the value of compassion and hard work. Tommy attended the Greater Southern Tier BOCES Bush Campus for a brief time before graduating from high school at the Elmira Free Academy.
In the summer of 1969, Hilfiger worked in a clothing store on Cape Cod. Two years later, with just $150, he launched People’s Place, a clothes boutique in downtown Elmira. When he first opened the shop, he stocked it with chic New York City fashions, but soon he started creating his own clothes. The chain experienced a backward trend in 1977, so Tommy started taking business courses after he launched a few additional People’s Place stores.
Before establishing his own business in 1979, he relocated to New York City and worked for a number of fashion houses Susie and Tommy were employed by Jordache to do their designing, but they were downsized after a year.
Creative Pursuit and Business Successes
Lawrence Stroll and Silas Chou, two entrepreneurs, bought the bulk of the brand in 1989. For the following two decades, they helped Hilfiger become a global sensation.
The brand started selling women’s clothing in 1996, and Hilfiger’s iconic menswear line made its debut in 1992. After opening a store in Beverly Hills in 1997, the company went on to open more than 1,400 locations throughout the world.
Early in the 2000s, its revenues exceeded $1.9 billion. The company was sold to Apax Partners in 2006 for the sum of $1.6 billion. Apax later sold the business to Phillips-Van Heusen in 2010 for the sum of $3 billion.
Tommy and Susan Cirona first crossed paths in 1976 while she was working at his People’s Place store in Ithaca. They got married in 1980 and went on to have four children before getting divorced in 2000.
Hilfiger wed Dee Ocleppo in December 2008, and they both welcomed a son together named in 2009.
Hilfiger spent $25.5 million to purchase a penthouse in the Plaza Hotel in New York City in 2008. He put the apartment on the market in 2013 for $80 million. He finally sold the home for $33.25 million in 2019 after 11 years on the market.
For $17.25 Tommy acquired a 14,000-square-foot Florida house in 2013. In 2017, he listed this house for $27.5 million. In February 2018, he reduced the cost to $23.5 million. He finally sold this home for the sum of $28 million to businessman Grant Cardone in May 2021.
Tommy purchased a mansion in Palm Beach for $35 million in 2016. For $35 million, he sold this mansion in 2018. Tommy purchased a far less costly mansion in Palm Beach worth $9 million in March 2020, and he currently resides there.
While Hilfiger was married to his first wife Susan, the couple resided in a sizable estate at Greenwich. After their divorce, Tommy gave his ex-wife Susan ownership of this house.
Roughly $31.4 million was spent by Tommy and his second wife in 2010 to purchase a property in Greenwich, Connecticut. In September 2020, this mansion was put up for sale at $47.5 million. The house was finally sold for the sum of $45 million in January 2021.
Tommy purchased a 7,000-square-foot, ski-in, ski-out mansion in Aspen, Colorado, for $31 million in December 2021. In a rather strange turn of events, he sold this house three months later for $50 million.
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