Giorgio Armani dies at 91: What was the luxury brand owner's net worth

Billionaire and owner of the luxury brand Armani, Giorgio Armani, died at the age of 91. The legendary Italian designer's cause of death was an age related illness, announced his fashion house on Thursday.

“With infinite sorrow, the Armani Group announces the passing of its creator, founder and tireless driving force: Giorgio Armani,” the company said in a statement.Often referred to as "Re Giorgio" or King Giorgio, he transformed fashion with his fluid designs that embodied elegance in wealth. According to Newsweek, his company generated $2.7 billion annually. But how rich was the designer himself? Find out below!

Giorgio Armani net worth

A former medical student turned designer, Armani started his brand in 1975, selling everything from jackets and jeans to sunglasses and shoes.

Throughout the years he strived to keep his company independent and rose in fame with his talent, dressing the Hollywood royalties such as Julia Roberts, Nicole Kidman and Beyonce. According to Forbes, Armani has a net worth of $12.1 billion, making him one of the richest personalities of Italy. According to The Seattle Times, beyond clothing, Armani extended his brand into accessories, perfumes, cosmetics, books, chocolates, flowers and even home furnishings.

Additionally, the billionaire owned more than 20 restaurants across the world, two luxury hotels in Dubai and Milan and his own basketball team known as Olympia Milano. The Armani Group announced the funeral chamber will be open to the public from Saturday, September 6, to Sunday, September 7, between 9 a.m. and 6 p.m., at Via Bergognone 59 inside the Armani/Teatro in Milan, with the funeral itself being private as per the iconic designer's wishes.