Michael Kors Is in the Money
According to Bloomberg, Michael Kors became a billionaire today. The news broke earlier this afternoon when shares of Michael Kors Holdings Ltd. sold for $90.39.
Since the company’s initial public offering in 2011, the designer—who, as the chief creative officer, owns 2 percent of the brand—has raked in more than $700 million selling its stock. Considering his standout Pre-Fall and Spring ’14 collections, it isn’t difficult to see why. Clearly the man knows what he’s doing—sartorially and otherwise.