Sara Blakely, American businesswoman, investor, and esteemed philanthropist is the epitomization of a self-made billionaire. As the founder of the Spanx apparel brand, Blakely has attained an astronomical level of success. Before we look at a figure for Sara Blakely net worth let’s have a look at her background and accolades.
In 2012 Forbes Magazine bestowed her the distinction of being the youngest self-made female billionaire in the world. Likewise, that same year, Blakely was part of TIME’s coveted 100 Most Influential People – others who appeared on the 2012 list included Hilary Clinton, Christine Largarde, and Warren Buffet.
Blakely is an esteemed investor who appeared in seasons 9 and 10 of the Emmy Award-winning Shark Tank as a “guest shark”. With such a remarkable level of success as an entrepreneur, suffice it to say that Sara Blakely has certainly been bestowed with prodigious amounts of business acumen.
Taking into account Blakely’s phenomenal success with Spanx, we here at Sophisticated Investor decided to ask, “How much is Sara Blakely worth?”. To answer the question, we compiled all the publicly available data regarding Blakely. Below, you will find the best approximation of the American businesswoman’s net worth.
Please take note that the figures are estimates used to determine the likely range of Sara Blakely’s wealth.
|Date of Birth||February 27, 1971|
|Title||Businesswoman and Philanthropist|
|Best Known For||Being the founder of clothing apparel company, Spanx|
|Net Worth (USD)||$1.3 billion|
What Is Sara Blakely‘s Net Worth?
By all estimates, Sara Blakely’s net worth is roughly $1.3 billion. In a November 2021 profile of the Spanx founder, Forbes cited this figure, thus in all likelihood, it is accurate. In October of this year, Blakely sold a majority stake in Spanx for a reported $1.2 billion to global investment group Blackstone – therefore, this is probably an accurate range. As an aside to the nature of Sara Blakely’s character, in celebration of the aforementioned sale, she gave each of the 750 Spanx employees two first-class tickets to anywhere in the world and $10,000 in cash. Enough said.
Sara Blakely Biography
Sara Blakely was born on February 27, 1971 in Clearwater, Florida. She graduated with a degree in communications from Florida State University. After college, Blakely flirted with the idea of following in her father’s footsteps as a lawyer, yet failed the bar exam twice. She worked for a spell at Disney World in Orlando, Florida, then got a job as a door-to-door salesperson selling fax machines for a company called Danka. It was in this position that Blakely realized she was adept at sales, quickly rising through the ranks to national sales trainer at the tender age of only 25.
Moreover, Blakely experienced a crystalline moment of inspiration after being forced to wear restrictive nylons as part of the mandated work attire for saleswomen at the company. One night while getting ready for a private function, she cut off the feet of a pair of control-top pantyhose, and thus, birthed the idea for Spanx.
At 27, Blakely moved to Atlanta, Georgia, then spent the subsequent two years and the entirety of her $5000 in savings making Spanx a viable company. She received rejections at every turn, but was undeterred, driven to succeed. Eventually, Blakely convinced the buyers at Neiman Marcus to offer Spanx in several of its locations. Shortly thereafter, Sak’s, Bergdorf Goodman, and Bloomingdale’s followed suit.
On a whim and exhibited phenomenal moxie, Blakely sent a gift basket filled with Spanx products to none other than Oprah Winfrey. By November 2000, Winfrey was lauding Spanx and its founder. Suffice to say, Spanx sales soared into the stratosphere. In 2012, Forbes put Blakely on its covering, deeming her the youngest self-made female billionaire on Earth.
In October 2021, Blakely accepted an offer from Blackstone Group to buy a majority stake in Spanx. Under the new deal, it has been reported that she will become Executive Chairwoman.
How Did Sara Blakely Build her Wealth?
The majority of Sara Blakely’s net worth stems from the recent sale of a majority stake in the company she founded, Spanx. As mentioned, Forbes estimates her real-time net worth to be approximately $1.3 billion, because of this recent acquisition deal with the Blackstone Group.
How Is Sara Blakely’s Net-Worth Calculated?
With wealthy business people and investors like Sara Blakely, many are founders or executives of publicly traded companies. These companies are obligated to disclose their financials in compliance with SEC regulations. Public disclosures of share ownership often make up the majority of an individual’s wealth, which is then used as a proxy for determining their net worth.
Disclosures are combined with the person’s publicly-known assets (e.g., principal residence, vehicles, secondary vacation properties, et al) and then subtracted by their publicly-known debts to arrive at a rough estimate. This is the general formula used to calculate Sara Blakely’s net worth of approximately $1.3 billion.
Who Else Invests Like Sara Blakely?
Not all investors have the same investing style. To compare investors like Sara Blakely you can check out some of the profiles listed below:
Want to Invest Like Sara Blakely?
Possessing a colossal net worth akin to that of Sara Blakely perhaps isn’t in the cards for most investors. However, you can take the first step towards portfolio diversification by opening a tax-advantaged retirement investing account, giving you exposure to alternative investments not correlated to the stock market.
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