Forbes released its 400 Richest People in America list Wednesday morning, and it seems fashion, beauty and retail were big factors in the fortunes of some of the wealthiest Americans.
Ralph Lauren logged the No. 52 spot on the list with a net worth of $6.5 billion. The source of his wealth is based on his preppy clothing brand and the various subdivisions of his Ralph Lauren empire. However, not all publicity for the self-made King of American fashion has been good: This summer, Lauren received a tremendous amount of criticism from lawmakers and the fashion industry for outfitting U.S. athletes at the London Olympics in official uniforms that were "Made in China."
Jin Sook & Do Won Chang came in at No. 79 as the founders of fast fashion arbiter Forever 21 with a net worth of $4.5 billion. The couple's story is really quite inspiring: They immigrated from Korea in 1981, the husband worked three jobs at one point, and within three years, the two opened their first store. The lawsuits they've encountered for copyright infringement on the other hand? Not so much. Despite the backlash Forever 21 has received from designers and retailers for blatantly poaching designs, the company just opened its first store in France and makes close to $3 billion in revenue each year.
Leslie Wexner, the chairman and CEO of Limited Brands, Inc. came in at No. 83 with a net worth of $4.4 billion. Limited Brands is the umbrella company of Victoria's Secret and Bath & Body Works, and both currently seek rapid expansion internationally. Expect more from Wexner in the next year.