Wexner is the founder of L Brands, the former co-owner of around 2,700 women's apparel and beauty stores. The Columbus, Ohio-based changed its name to Bath & Body Works in 2021 when it spun-off its Victoria's Secret chain. Bath & Body Works reported revenue of $11.1 billion in the year to Jan. 29, 2022.
Les Wexner's net worth of $9.32B can buy ...
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The majority of Wexner's fortune is derived from the proceeds of investments in L Brands, the retailer that changed its name to Bath & Body Works in 2021. L Brands had about 2,700 company-owned stores prior to its re-organization, according to its website.
Wexner controls almost 2% of the Bath & Body Works' shares directly, according to a July 20, 2021 company filing. Earlier that month, he sold about 30 million of his 35 million shares to investors and the company, according to a company prospectus.
The value of his cash investments is based on an analysis of dividends, insider transactions, taxes, charitable giving and market performance.
Tammy Roberts Myers, a spokeswoman for Wexner, declined to comment on the billionaire's net worth.
Leslie Wexner was born to Russian immigrants on Sept. 8, 1937 in Dayton, Ohio. They owned and ran Leslie's, a small shop in downtown Columbus. He graduated from Ohio State University in 1959, and served in the Air National Guard, according to a biography on the company's website. After that, he worked at the family's shop.
Wexner started Limited Brands in 1963 as a single store in the Kingsdale Shopping Center in Columbus. It had sales of $160,000 in its first year. He started the business as a specialty retailer focusing on apparel and grew annual sales to more than $13 billion in 2019. The company, now known as L Brands, also sells lingerie and beauty products.
The billionaire vacated his position as chairman of L Brands in 2020. In the same year, the company sold a controlling stake in Victoria's Secret to Sycamore Partners.
Wexner has four children with his wife, Abigail.