The ideal self-made millionaire is Sara Blakely, an American businesswoman, Investor, and renowned philanthropist. Blakely is the Spanx clothing line creator and has achieved phenomenal success. Before estimating her net worth, let’s look at Sara Blakely’s background and accomplishments.
She received the honor of being the youngest self-made female millionaire in the world from Forbes Magazine in 2012. Blakely was also included in TIME’s 2012 list of the 100 Most Influential People, including Hilary Clinton, Christine Lagarde, and Warren Buffet.
Blakely is a renowned investor who served as a “guest shark” on the Emmy Award-winning Shark Tank in seasons 9 and 10. Sara Blakely has been endowed with vast quantities of business intelligence, given her extraordinary success as an entrepreneur.
Because of Blakely’s extraordinary success with Spanx, we at Sophisticated Investor decided to calculate her net worth. We gathered all of Blakely’s information that is readily accessible to the general public to respond. Below, you may discover the most accurate estimate of the American entrepreneur’s net worth.
Please be aware that the numbers used to assess the likely range of Sara Blakely’s fortune are estimations.
What is Sara Blakely’s Net Worth?
All estimations show Sara Blakely’s net worth is around $1.3 billion. This number was stated by Forbes in a feature by the creator of Spanx published in November 2021. Thus it is accurate. This is likely an accurate range because Blakely sold an estimated $1.2 billion majority ownership in Spanx to international investment firm Blackstone in October of this year.
In keeping with Sara Blakely’s persona, she gave each of the 750 Spanx staff members two first-class tickets to anywhere in the globe and $10,000 in cash to celebrate the sale, as mentioned earlier. I’ll stop here.
Sara Blakely Biography
Sara Blakely was born in Clearwater, Florida, on February 27, 1971. She has a communications degree from Florida State University. Blakely toyed with continuing in her father’s legal career after graduation, but she failed the bar exam twice. She briefly worked at Disney World in Orlando, Florida, before working as a door-to-door salesperson for Danka, a firm that sells fax machines. Blakely discovered her talent for sales in this role, quickly moving through the ranks to become the national sales trainer at the young age of only 25.
Blakely also had a crystal-clear inspiration after being required to wear constricting nylons as part of the company’s required work dress for sales clerks. She took off the feet of a pair of control-top pantyhose one evening while she was getting ready for a private event, which gave rise to the concept for Spanx.
When she was 27 years old, Blakely relocated to Atlanta, Georgia, where she invested the next two years and her $5000 in savings on turning Spanx into a profitable business. She was consistently turned down, yet she persisted in her desire to succeed despite this. Blakely eventually persuaded Neiman Marcus’ buyers to carry Spanx in several of its stores. Sak’s, Bergdorf Goodman, and Bloomingdale’s quickly followed suit.
Blakely sent Oprah Winfrey a gift basket full of Spanx goods on a whim and showed incredible moxie. Winfrey began praising Spanx and its founder in November 2000, and Spanx sales skyrocketed. Forbes named Blakely the world’s youngest self-made female millionaire in 2012, landing her on the magazine’s cover.
Blakely agreed to purchase a majority of Spanx from Blackstone Group in October 2021. She will reportedly take on the role of Executive Chairwoman under the terms of the new agreement.
How Did Sara Blakely Build Her Wealth?
The recent sale of the majority of Sara Blakely’s stock in the business she started, Spanx, accounts for most of her net worth. Due to this recent acquisition agreement with the Blackstone Group, Forbes estimates her net worth to be around $1.3 billion.
How is Sara Blakely’s Net Worth Calculated?
Many affluent entrepreneurs and investors like Sara Blakely are founders or top officials of publicly traded businesses. According to SEC rules, these businesses must report their financial information. Most of a person’s wealth is frequently represented by public disclosures of share ownership, which is subsequently used as a proxy to calculate their net worth.
To arrive at a ballpark approximation, disclosures are added to the person’s publicly known assets (such as their primary dwelling, car, second home, etc.), and then their publicly known debts are deducted. This general formula determines Sara Blakely’s estimated $1.3 billion net worth.
Who Else Invests Like Sara Blakely?
Different investors have different investing philosophies. You can review some of the profiles listed below to compare investors like Sara Blakely:
- Michael Burry
- Arlene Dickenson
- Joel Greenblatt
- Kendra Scott
- Anne Wojcicki
- Ali Webb
- Nick Woodman
Want to Invest Like Sara Blakely?
Perhaps it’s outside the cards for most investors to have a massive net worth like Sara Blakely. Opening a tax-advantaged retirement investing account, which will expose you to alternative assets unrelated to the stock market, is an excellent first step toward portfolio diversification.
Start by opening a self-directed IRA to create a portfolio that increases in value while tax-free or tax-deferred. These include non-traditional financial instruments such as precious metals, cryptocurrency, hedge funds, and annuities. Read our Bitcoin and precious metals IRA assessments to learn more about this market.
Pros and Cons Sara Blakely’s Net Worth
- Grew to become the earliest self-made female billionaire.
- Started her business, Spanx, with just $5,000 in her apartment.
- Maintained quality and customer happiness while generating a solid profit margin.
- Competitors might try to duplicate her items, which could result in market share losses.
- Finding qualified individuals who can perform at the same level of accomplishment could be challenging and expensive.
Final Thought – Sara Blakely’s Net Worth
Sara Blakely illustrates how perseverance, hard effort, and astute financial decision-making can result in enormous financial success. She demonstrates that anyone can succeed if they are prepared to take chances and invest in themselves. She now serves as an inspiration for aspiring businesspeople and investors all around the world because of her accomplishments.