Donatella Versace is an Italian fashion designer with a $400 million net worth. She is the daughter of fashion designer Gianni Versace. After Gianni Versace‘s untimely death in 1997, his younger sister, Donatella, assumed control of the family business, Versace.
Donatella is the youngest child out of three. As the former CEO, chief creative officer, and artistic director of Versace, she played a crucial role in 2018’s $2.12 billion sales to Michael Kors. She also served as chairman and chief executive officer of the company.
Versace was involved in the creation of both the Palazzo Versace Australia resort and the Palazzo Versace Dubai resort. In 2005, she designed a MINI Cooper Cabrio for the charity event Life Ball, which benefited the American Cancer Society.
After Gianni’s 1997 murder by a crazed admirer, Donatella’s daughter Allegra received a fifty percent stake in the Versace fashion empire, which she has since grown. Donatella was granted a 20% stake in the company, while her uncle Santo (Gianni’s brother) was granted a 30% stake. Allegra was only eleven years old at the time of her uncle’s tragic murder, so Donatella and Santo assumed responsibility for her life.
Donatella Versace Career
Donatella Versace had originally intended to work in the public relations department of Gianni Versace’s company, but Versace saw her as an important critic and muse, and when he launched Versace in 1978, he appointed her as Vice President.
During the 1980s, Donatella was heavily involved in the coordination of Versace’s fashion shows and advertising campaigns, and Gianni gave her the fashion label Versus and created the fragrance Blonde in her honor.
When Gianni was diagnosed with cancer in the mid-1990s, Donatella became more involved in the business, and after Gianni’s death in 1997, she was promoted to head of design at Versace. Donatella Versace’s advertising campaigns have featured a number of celebrities, including Madonna, Demi Moore, Courtney Love, and Nicki Minaj, among others.
During the “Versace at the V&A” exhibit, which ran from October 2002 to January 2003, the Victoria and Albert Museum in London displayed some of Gianni and Donatella’s most renowned designs.
Donatella’s most well-known design is the low-cut silk chiffon gown Jennifer Lopez wore to the 2000 Grammy Awards; within 24 hours of the event, more than 640,000 photographs of the dress were downloaded from the Grammy website. Later that year, the creator of “South Park,” Trey Parker, wore a replica of the iconic gown to the Academy Awards.
Donatella is honored by Lady Gaga with the song “Donatella,” which appears on her 2013 album “Artpop.” Maya Rudolph (“Saturday Night Live”), Gina Gershon (“House of Versace”), and Penelope Cruz (“American Crime Story: The Assassination of Gianni Versace,” among others) have portrayed Donatella in popular culture.
In 2016, Donatella Versace published her autobiography titled “Versace,” which details her life, career, and the history of the Versace brand.
Donatella Versace Acquisition
In 2014, Versace sold a 20 percent stake in the business to the private equity firm Blackstone for $1 billion. As a result of the investment, the value of Versace was approximately $1.4 billion.
Donatella’s stake was valued at approximately $280 million, while Allegra’s was valued at approximately $700 million. Michael Kors Holdings announced in a press release dated September 25, 2018, that it had reached an agreement to acquire Versace for a total of $2.2 billion.
Donatella Versace Personal Life
Donatella had married American model Paul Beck in 1983, and the couple had Allegra Versace in 1986 and Daniel Versace in 1989 before divorcing in 2000.
According to court documents, Versace married Manuel Dallori in 2004, and the couple divorced the following year. Donatella was profoundly affected by the murder of Gianni by Andrew Cunanan in July 1997, which left her in a state of shock.
Following the death of her beloved brother in 2004, she sought treatment at a rehabilitation facility for drug addiction.
Donatella Versace Honors and Awards
Versace was named Fashion Designer of the Year by “Glamour” magazine in 2012 and 2016, as well as Woman of the Year in 2010. She received the FGI Superstar Award in 2008 and the Fashion Icon of the Year Award from the British Fashion Council in 2017. She has also won numerous additional awards.
Donatella was the first woman to win Designer of the Year at the “GQ” Men of the Year Awards in both the United Kingdom and China, and she also received the Fashion Icon award at the “GQ” Awards in Berlin.
The Council of Fashion Designers of America also presented her with the International Award in 2018, and she accepted the CNMI in Recognition for Sustainability Award from the Green Carpet Fashion Awards.
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Frequently Asked Questions (FAQs)
What Does Donatella Versace’s Net Worth Look Like?
After Gianni’s murder by a crazed fan in 1997, Donatella’s daughter Allegra inherited a fifty percent stake in the Versace fashion empire. Donatella inherited 20% of the business, while her uncle Santo (Gianni’s brother) inherited 30%.
Does Donatella own Versace still?
She inherited a portion of the Versace brand after Gianni’s death in 1997 and became its creative director. She is currently the chief creative officer of the brand.
Who inherited the fortune of Gianni Versace?
On her eighteenth birthday, she acquired fifty percent of Gianni Versace S.p.A. Allegra’s uncle Santo Versace owned 30 percent of the fashion empire, and her mother owned 20 percent; however, due to a long-standing dispute between the two, Gianni bequeathed Allegra the remaining 50 percent of the Versace empire.
Donatella Francesca Versace was born May 2, 1955, in Reggio di Calabria, Italy. Gianni raised Tina alone after her 12-year-old mother died of tetanus. Francesca taught Donatella and Gianni fashion design as kids, and Versace dyed her hair blonde at age 11.
Donatella began studying foreign languages at the University of Florence in 1973 to become a high school teacher. She helped Gianni’s clothing business in Milan while in college.