Rank #1959
Richard Saghian
Net worth $2.1B
Fast fashion · United States
- Born
- Aug 06, 1981
- Age
- 44
- Source
- Fast fashion
- Residence
- Los Angeles, California
- Citizenship
- United States
- Marital status
- Single
- Children
- 0
- Education
- Drop Out, California State University Northridge
Net worth over time
Biography
- Richard Saghian is the founder and CEO of fast fashion company Fashion Nova, which generates some $2 billion in annual sales.
- The son of Iranian immigrants, Saghian started the company in 2006 after dropping out of college.
- He offered hundreds of new clothing styles a week, promoted on Instagram by influencers and celebrities like Cardi B.
- In 2018, Fashion Nova was the most Googled fashion brand, beating out the likes of Louis Vuitton, Versace and Gucci.
- Saghian owns several properties in Los Angeles, including a sprawling hilltop estate in Bel Air that he purchased for $141 million.
- Three men attempted to rob Saghian outside his home in 2021. A confrontation with a security guard led to gunfire, resulting in one fatality. Saghian was uninjured.
- In 2022, Fashion Nova agreed to pay $4.2 million to settle allegations by the FTC that it suppressed negative reviews online. Fashion Nova denies the allegations.