Curious about the fortune behind fashion designer Virgil Abloh? At the time of his death in 2021, his net worth was estimated at $100 million. This blog will explore how he built his wealth and made history with brands like Off-White and Louis Vuitton.
Keep reading for an inside look at Virgil Abloh net worth!
Key Takeaways
- Virgil Abloh net worth was estimated at $100 million in 2021. Some reports suggested a lower figure of $20 million.
- He earned $10 million yearly as Louis Vuitton’s menswear artistic director and owned stakes in his brand, Off-White.
- Off-White generated $354 million annually by 2021, with 56 stores across 40 countries worldwide.
- Major collaborations, like Nike’s The Ten” sneakers and IKEA furniture lines, boosted his fame and wealth.
- LVMH bought a 60% stake in Off-White in July 2021, solidifying Abloh’s legacy in luxury fashion markets globally.
Virgil Abloh Net Worth at the Time of His Death
Virgil Abloh net worth at his passing was impressive, reflecting his hard work and creative impact. His earnings came from many avenues, including Off-White and his role with Louis Vuitton.
Estimated wealth and key sources of income
At the time of his death, Virgil Abloh’s net worth was estimated at $100 million. Some reports, like one from The Sun, suggested a lower figure around $20 million. His role as Louis Vuitton’s artistic director brought him an annual salary of $10 million from LVMH.
Revenue also poured in from his Off-White brand and collaborations with giants like Nike and IKEA. Stake ownership in Off-White further boosted his fortune. These ventures defined his wealth before heading to “LVMH salary and business ventures.
LVMH salary and business ventures
Virgil Abloh earned $10 million yearly as Louis Vuitton’s menswear artistic director. This role made him one of the highest-paid fashion designers in the industry. LVMH further cemented its partnership with Abloh by purchasing a 60% stake in Off-White in July 2021.
The brand he founded, Off-White, achieved extraordinary success under his leadership.
Off-White generated $354 million annually by 2021, solidifying its status as a powerhouse in luxury streetwear. The company expanded globally, owning 56 retail stores across 40 countries that year.
These ventures and strategic moves showcased Abloh’s business acumen and ability to bridge creativity with profitability. His legacy lives on through these accomplishments within luxury goods markets worldwide.
Key Contributions to Building His Wealth
Virgil Abloh changed the fashion industry with bold ideas and fresh designs. His mix of art, culture, and style left a lasting impact on high-end streetwear.
Founding Off-White and collaborations with major brands
In 2013, Abloh started Off-White in Milan. He used bold designs and focused on streetwear mixed with luxury. By 2021, the brand raked in $354 million annually. Its rise reshaped fashion trends across the globe.
His collaborations were top-tier. In 2017, he teamed up with Nike for “The Ten” sneaker collection, which became a sensation. Ikea partnered with him to create stylish furniture pieces that sold out quickly.
These projects boosted his reputation and bank account alike.
Role as Louis Vuitton’s Artistic Director
Virgil Abloh became the artistic director of Louis Vuitton’s menswear in 2018. He was the first African American to hold this prestigious position at a French fashion house. His annual LVMH salary reportedly reached $10 million, showcasing his value in the luxury market.
Abloh infused Louis Vuitton’s designs with streetwear aesthetics, appealing to younger audiences globally. Under his leadership, collections gained massive attention during Paris Fashion Week events.
LVMH later strengthened its connection with Abloh by acquiring a 60% majority stake in Off-White (company) in 2021. This move solidified their partnership and reinforced his influence in both streetwear and luxury markets.
His time at Louis Vuitton expanded their brand’s appeal and challenged traditional ideas of high fashion design.
Financial Legacy and Impact on Fashion
Virgil Abloh shook up fashion with his bold designs and fearless creativity. His influence still shapes brands, proving style can rewrite the rules.
Influence on the luxury streetwear market
Abloh transformed luxury streetwear. He merged casual street style with high-end fashion, creating something fresh. Off-White gained fame for bold designs like quotation marks, zip ties, and barricade tape imagery.
Celebrities such as Beyoncé wore his pieces, boosting the brand’s appeal.
Off-White’s success pushed other brands to rethink their strategies. Collaborations with Nike and Louis Vuitton blurred traditional fashion lines further. His work made it clear: sneakers and T-shirts could sit alongside refined suits on a global stage.
This shift changed how people viewed luxury forever.
Continued growth of his brand and estate
Off-White thrived even after Virgil Abloh’s passing. By 2021, the brand had 56 stores across 40 countries and generated $354 million yearly. LVMH bought a 60% share in the company that same year, securing its place in high fashion.
Abloh retained majority ownership when LVMH invested, ensuring his estate’s future gains. Collaborations with Nike and partnerships like Louis Vuitton continued to boost Off-White’s value.
His vision kept influencing luxury streetwear markets globally.
Takeaways
Virgil Abloh’s legacy goes far beyond his $100 million net worth. He broke barriers, blending streetwear with luxury in ways never seen before. From designing jaw-dropping collaborations to leading Louis Vuitton’s menswear, his impact was massive.
Virgil Abloh net worth story inspires millions, proving that creativity has no limits. Though gone too soon, his work keeps shaping fashion today.
FAQs
1. What was Virgil Abloh’s net worth at the time of his death?
Virgil Abloh net worth was estimated to be $100 million, thanks to his work with Off-White, Louis Vuitton, and collaborations with brands like Nike and Rimowa.
2. How did Virgil Abloh start his career in fashion?
Abloh began by interning at Fendi in 2009 alongside Kanye West. Their friendship led him to become the creative director at Donda, Kanye’s company.
3. Where did Virgil Abloh study before entering the fashion world?
Abloh graduated from the University of Wisconsin–Madison in 2002 with a Bachelor of Science degree in civil engineering. He later earned a degree in architecture from the Illinois Institute of Technology.
4. What made Off-White so successful under Virgil Abloh?
Off-White stood out for its bold designs and blending streetwear with high fashion. The label gained global attention after being shown at Paris Fashion Week and through collaborations with celebrities like Serena Williams.
5. What role did Virgil play at Louis Vuitton?
In 2018, he became the artistic director of Louis Vuitton’s menswear line, making history as one of the first Black designers in such a high-profile position within a French luxury house.
6. Did Virgil Abloh face any health challenges during his career?
Yes, he battled cardiac angiosarcoma, a rare type of cancer diagnosed privately while continuing his work until passing away in 2021.
