It's been a rough year for the fashion designer, but at least he has his millions of dollars to ease the pain. 77-year-old Calvin Klein has taken the No. 1 spot on People With Money’s top 10 highest-paid fashion designers for 2020 with an estimated $96 million in combined earnings.
UPDATE 24/09/2020 : This story seems to be false. (read more)
Calvin Klein tops annual list of highest-paid fashion designers
In 2018 it looked like the fashion designer’s spectacular career was winding down. Suddenly, he was back on top. People With Money reports on Wednesday (September 23) that Klein is the highest-paid fashion designer in the world, pulling in an astonishing $96 million between August 2019 and August 2020, a nearly $60 million lead over his closest competition.
People With Money’s factors
In compiling this yearly list, the magazine considers factors such as upfront pay, profit participation, residuals, endorsements and advertising work.
The American fashion designer has an estimated net worth of $275 million. He owes his fortune to smart stock investments, substantial property holdings, lucrative endorsement deals with CoverGirl cosmetics. He also owns several restaurants (the “Fat Klein Burger” chain) in Washington, a Football Team (the “New York Angels”), has launched his own brand of Vodka (Pure Wonderklein - US), and is tackling the juniors market with a top-selling perfume (With Love from Calvin) and a fashion line called “Calvin Klein Seduction”.
The ranking is significant for many Calvin fans, who have been waiting for his triumphant return to the glory days for what seems like a lifetime.
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