Calvin Klein Net Worth, Money and More
Net Worth : $700 Million.
Calvin Klein the world’s most famous and successful American fashion designer has an estimated worth of $700 million.
Early Life & Career
Calvin Richard Klein was born in Bronx in a Jewish family. He never graduated in Art and design. However, he received an honorary doctorate in 2003 from Fashion institute of Technology. while Calvin’s friends invest their time in games, Calvin invested his time on his passion for fashion and learned to sew designs and sketch. He spent endless hours on sketching dresses and suits. In 1962, Calvin dropped out of Fashion institute of technology. Later her worked as an intern designer for Dan Mill stein to improve his design skills and to concentrate on his design ideas. Calvin got inspired by the style of New York’s Youth and in 1968, along with his friend and Barry Schwartz partnered to set up a fashion empire called Calvin Klein Limited. They started their designer shop in a small space at York Hotel. After his debut shop in the hotel, Calvin got name and fame for his elegant, easy to wear sleek designs. Because of his elegant designs he got a chance to feature in Harper’s Bazaar and Vogue regularly. In early 70′s Calvin made his mark in never ending fashion jeans. He got his name trademark on the back pockets of tight jeans. Calvin marketed the jeans with a tag line, “Nothing comes between me and my Calvin”, this tag line made his jeans a must have. Over 45,000 pairs were sold every week. In spite of his success, Calvin’s different and pervasive ad campaigns kept him under criticism throughout his career. Leaving all this behind, in a few years time Calvin Klein as a brand expanded its business. The brand included Swim wear, eye wear, Fragrance, and accessories and home decor market under the banner.In today;s market, Calvin Klein exceeds sales of over $7 billion. In 1973, Calvin Klein became the youngest designer who received an Coty Award. Apart from this he has managed to win several other awards for his accomplishment in the field of fashion and his contribution in style. Many well known designers like Donna Karen and Miuccia Prada has been influenced by Klein. Calvin Klein remains a designer clothing choice for Hollywood Celebrities like Helen Hunt, Gwyneth, and Julia Roberts.
Relationships.
Calvin Klein first got married in the year 1965 to Jayne. The couple divorce in 1974 but has a daughter together. Their daughter Marci currently works as a talent producer for NBC’s show.
ten years after his first marriage ended, Klein got married to much younger Kelly Rector. He met her when she was working in his company. The couple later decided to part ways in 2006 and later his ex wife became a well known photographer.
Wealth
Calvin Klein has an estimated net worth of over $700 million. He earns his wealth from his designer label Calvin Klein. His brand sells everything from home decor products to clothes to accessories to fragrance.
One of the most famous fashion designer, Calvin Klein owns a lovely home in Bridgehampton. The new home is near his old house which was demolished few years back to make way for this new home. He bought this lovely home for $2.15 million. The property is in the spread of one acre and home is built in the area of 4500 square feet. This big home includes six bedrooms, three car garage, four bathrooms, a classic fireplace, a gourmet kitchen and a lovely expensive gardens. For this property Klein pays a property tax of $170,000 a year and other $105,000 for his new castle built in Southampton.
This new built Castle is situated at Long island New York. Calvin Klein first bought this century old house for $30 million and later built it. He spent almost two years’ time to get permission to tear the old mansion down and re built it. The new home is built in an area of 2000 square feet and features an underground tunnel. Currently the property is worth over $50 million.
Calvin owns a Vantage Yacht that defines true sophistication of the designer. This uniquely styled yacht is used by the designer to host entertainment events. The Yacht features a roofed area with lights, relaxation pads, Jacuzzi, a bar and a barbecue and can accommodate 12 guests. The luxury Yacht cost over $100 million.
Apart from spending his wealth on luxuries, Calvin Klein spend his high wealth in charitable foundations. He is also interested in politics and has made donations to various political leaders. Klein is a prolific donor to Democratic Party political causes, having given over $250,000 to candidates. Calvin Klein is closely associated with Elephant Family. This organisation is a non profit organisation that works towards the environment. The organisation saves Asian elephant.
Awards
1) In 1974, Klein designed the tight-fitting jeans that would go on to gross $200,000 in their first week of sales. In the same year, Klein became the first designer to receive outstanding design in men’s and women’s wear from the CFDA award show.
2) In 1983, Klein was on the International Best Dressed List.
3) In 1981, 1983, and 1993, he received an award from Councils of Fashion Designs of America.
Quote:If you really love someone and care about him, you can survive many difficulties.
