Donatella Versace Net Worth - Pulptastic

Publish date: 2024-05-06

What is Donatella Versace’s Net Worth and Salary?

Donatella Versace is an Italian fashion designer with a net worth of $400 million. She took over her brother Gianni Versace’s company, Versace, after he was murdered in 1997. She has held multiple positions within the company, including CEO, chief creative officer, and artistic director. She played a key role in selling the company to Michael Kors for $2.12 billion in 2018.

Donatella has designed the Palazzo Versace Australia resort and was involved in the design of Palazzo Versace Dubai. She also designed a MINI Cooper Cabrio to benefit the Life Ball charity event in 2005.

Following Gianni’s death, Donatella’s daughter Allegra inherited a 50% stake in the Versace fashion empire, while Donatella inherited 20% and Gianni’s brother Santo inherited 30%. Due to Allegra’s young age at the time, Donatella and Santo took control of the company.

Early Life and Education

Donatella Francesca Versace was born on May 2, 1955 in Reggio di Calabria, Italy. She grew up with her mother Francesca, father Antonio, and three older siblings. Versace’s mother taught her and her brother Gianni about fashion design. Donatella enrolled at the University of Florence in 1973, planning to become a teacher, but often went to Milan to help Gianni with his clothing business.

Donatella Versace’s Career and Legacy

Donatella Versace was initially hired by her brother Gianni to work in the public relations department of his company. However, he recognized her value as a critic and muse and made her Vice President of the company when he founded Versace in 1978. Donatella was involved in coordinating fashion shows and advertising campaigns, and Gianni gave her a fashion label called Versus in the 1980s.

After Gianni’s cancer diagnosis in the mid-1990s, Donatella became more involved in the business. Following his murder in 1997, she became the head of design for Versace. Many celebrities, including Madonna, Demi Moore, Courtney Love, and Nicki Minaj, have been featured in Donatella’s Versace advertising campaigns.

Donatella’s most famous design is the low-cut silk chiffon dress Jennifer Lopez wore to the 2000 Grammy Awards. Within 24 hours of the event, images of the dress had been downloaded from the Grammy website more than 640,000 times. Donatella has been portrayed in pop culture by Maya Rudolph, Gina Gershon, and Penelope Cruz.

In 2016, Donatella released the book “Versace,” which chronicles her career as well as the company’s legacy.

Versace Valuation and Acquisition by Michael Kors

In 2014, private equity firm Blackstone purchased a 20% stake in Versace for $1.4 billion, valuing the company at that amount. Donatella Versace’s 50% stake was worth $700 million and Allegra’s was worth $280 million. On September 25, 2018, Michael Kors Holdings announced it had acquired Versace for $2.2 billion.

Donatella Versace’s Personal Life

Donatella Versace, Italian fashion designer, was married to American model Paul Beck in 1983. They had two children, Allegra Versace in 1986 and Daniel in 1989, before divorcing in 2000. In 2004, Versace tied the knot with Manuel Dallori, but their marriage ended the following year.

Donatella was very close to her brother Gianni Versace and was devastated when he was murdered by Andrew Cunanan in July 1997. She struggled with drug addiction after her brother’s death and went to rehab in 2004.

Accolades

Donatella Versace has received numerous awards and recognitions for her contributions to the fashion industry. She was named the 2012 and 2016 Fashion Designer of the Year by “Glamour” magazine, and the 2010 Woman of the Year. She also received the FGI Superstar Award in 2008 and the British Fashion Council’s Fashion Icon of the Year award in 2017.

Donatella earned the distinction of becoming the first woman to win the Designer of the Year award at the “GQ” Men of the Year Awards in both the U.K. and China in 2018. She also won the Fashion Icon award at Berlin’s “GQ” Awards that same year.

The Council of Fashion Designers of America gave her the International Award in 2018, and The Green Carpet Fashion Awards honored her with The CNMI in Recognition for Sustainability Award.

Donatella Versace Buys $5.6 Million Mansion in Italy

Donatella Versace spent approximately 5 million euros ($5.6 million) on a 15,000 square foot mansion in Meina, Italy. The home, known as Villa Mondadori, overlooks Lake Maggiore and boasts 50 rooms, including 20 bedrooms and 12 bathrooms. The four-story mansion is a luxurious addition to Versace’s real estate portfolio.

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