Richard Saghian
$2.1B
Born
Aug 06, 1981
Age
44
Source of Wealth
Fast fashion
Residence
Los Angeles, California
Citizenship
United States
Marital Status
Single
Children
0
Education
Drop Out, California State University Northridge
- 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.
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