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8. Michael Kors, honorary chairman, chief creative officer and director, Michael Kors Holdings Ltd.
As the song goes, “It was a very good year” for Michael Kors. After 30 years of designing and a high-profile gig as a judge on “Project Runway,” Kors’ $1.7 billion company went public last December in one of the largest IPOs for a U.S. fashion firm. The stock, which began trading at $20 a share, closed Friday at $51.60. Kors’ total proceeds from the IPO and follow-up offerings was over $467 million. As of September, Kors held 8,356,016 shares of stock, which would value his investment at $421 million and put him on the path to becoming a billionaire. Total revenue growth for the second quarter was attributed to a mix of accessories, footwear, watches, jewelry and eyewear, which combined for 79 percent of the firm’s product assortment.