Giorgio Armani Net Worth: Who Will Inherit Fashion Mogul's Massive Wealth?

The Armani Group on Thursday announced the passing of its creator, founder Giorgio Armani. In a heartfelt Instagram post, the Group wrote, "With deepest sorrow, the Armani Group announces the passing of its creator, founder, and tireless driving force: Giorgio Armani."

Armani had already laid out his succession plan. "A pool of trusted people close to me and chosen by me," Armani had said in 2024, pointing to the leadership of his company's foundation, particularly Leo Dell’Orco, who’s supported the designer in managing the company for years, and his nieces Silvana and Roberta Armani and nephew Andrea Camerana. Armani had no children.

In August 2025, he told The Financial Times that he wants his successors to include his collaborators and family. The 91-year-old was not married and never had children. He had a younger sister, Rosanna, two nieces, Silvana and Roberta, and a nephew, Andrea Camerana. His family members are at senior positions in the fashion brand.

"My plans for succession consist of a gradual transition of the responsibilities that I have always handled to those closest to me," Armani told FT. He indicated that Pantaleo Leo Dell'Orco is his likely successor. "I would like the succession to be organic and not a moment of rupture," the fashion icon added.

According to Forbes Real-Time Billionaires, Giorgio Armani has a net worth of $12.1 billion. Armani had branched out his expire to various sectors that included accessories, perfumes, makeup, flowers, chocolates and sportswear. He even dabbled in interior design, real estate, restaurants and hotels.

He has 20 restaurants across the world, and two luxury hotels in Dubai and Milan. Girogio Armani also owns a basketball team named EA7 Emporio Armani Milan, popularly known as Olympia Milano. Armani's company generated revenue of $2.7 billion in 2024.

He owns the yacht Main, which is valued at 60 million euros. He also owns apartments and bungalows in Milan, Saint Tropez, Paris, and Saint Moritz.

Armani's first brush with fashion was his job as a window dresser. He gained experience in the marketing and visual aspects of the industry. From gaining expertise designing menswear for Nino Cerruti in the mid-1960s to creating one of the world’s most prominent luxury houses, Armani was a hands-on boss who kept tight control over his company.

Armani has successfully maintained its independence in a luxury market increasingly dominated by powerful groups like LVMH Moët Hennessy Louis Vuitton SE, which owns brands such as Loro Piana and Fendi, and Kering SA, the parent company of Gucci. Meanwhile, Prada SpA, known for its popular Gen-Z brand Miu Miu, recently agreed to acquire Versace.

The Italian fashion icon built a vast empire encompassing multiple fashion lines along with long-term licensing agreements, most notably with L’Oreal SA for beauty and fragrance products, including the iconic Acqua di Gio, and EssilorLuxottica SA for branded eyewear. Fossil Group also handles Emporio Armani watches.

Even in his final year, Armani remained deeply involved; in October 2024, he appeared in a tuxedo to showcase his womenswear spring-summer 2025 collection in New York City.

However, the Armani group also faced the luxury sector’s recent slump, which has affected giants like LVMH’s Bernard Arnault and Kering’s Pinault family. In July, Armani announced a 5% decline in annual sales, down to €2.3 billion ($2.7 billion), attributing the drop to global economic uncertainty and weakening demand in China.

In a statement, the Armani Group said, "Signor Armani, as he was always respectfully and admiringly called by his employees and collaborators, passed away peacefully, surrounded by his loved ones. Tireless, he worked until his final days, dedicating himself to the company, its collections, and the diverse and ever-evolving projects underway and underway."

The iconic fashion brand said, "Giorgio Armani is a company with fifty years of history, grown with emotion and patience. Giorgio Armani has always made independence, both in thought and action, his hallmark. The company is a reflection, today and always, of this sentiment. His family and employees will lead the Group forward with respect and continuity in these values."

"The chapel of rest will be set up starting Saturday, September 6th and will be open to visitors until Sunday, September 7th, from 9:00 a.m. to 6:00 p.m., in Milan, at Via Bergognone 59, at the Armani/Teatro. In accordance with Mr. Armani's express wishes, the funeral will be held privately," informed the group.