Spanx founder Sara Blakely regained billionaire status after selling a controlling stake to Blackstone.
The businesswoman is making headlines for her wealth, but what is Sara Blakely’s exact personal net worth? We break it down.
Who is Sara Blakely and what is Spanx?
Sara Blakely is the founder of Spanx, an American fitness clothing company founded in 1998.
According to the company’s website, Spanx’s goal is to âelevate women,â stating, âSPANXÂ® is a brand for women, by women. We are obsessed with comfort, deliver results and make sure you look as good as you feel. We anticipate and give back. “
Blakely launched the Spanx brand after cutting the feet of her tights, creating an undergarment for an outfit she wanted to wear to a party. In 2012, Sara was named the world’s youngest self-made billionaire woman by Forbes magazine and one of TIME’s 100 Most Influential People.
Spanx founder sells majority stake
As competition for Spanx increased in the retail industry, Blakely’s $ 1 billion fortune fell to around $ 750 million, according to Forbes.
Last I heard, Sara regained billionaire status after selling a controlling stake in her company to private equity firm Blackstone. The deal values ââthe company at $ 1.2 billion, with Blakely retaining “a significant equity stake.”
Via an Instagram post, Sara shared, âI will remain a significant shareholder and continue to help the company realize its greatest potential, as well as continue to fulfill my greatest passion – raising women. “
Sara Blakely’s Net Worth Explored
Following the deal with Blackstone, Sara Blakely now has a reported net worth of $ 1.2 billion as of October 2021, according to Market Realist.
According to the same outlet, Blakely believes in philanthropy and has therefore signed The Giving Pledge, an organization that urges billionaires to donate part of their wealth.
In other news, the answer to the riddle “If you take 3 apples out of 10 apples” has finally been revealed