What Is Spanx Founder Sara Blakely's Net Worth?

Sara Blakely, the innovative founder of Spanx, has turned her entrepreneurial vision into a remarkable net worth of $1 billion. Blakely's remarkable journey began when, at 25 years old, she conceptualized a groundbreaking women's undergarment product while working as a door-to-door fax machine salesperson. With unwavering determination and her entire life savings of $5,000, she introduced a line of body-shaping undergarments called "Spanx." 

What are Sara Blakely's sources of income?

Sara Blakely was once a door-to-door fax machine salesperson. Then she founded Spanx – which turned into a billion-dollar company that sells undergarments, leggings, and swimwear – despite having no fashion, retail, or business leadership experience. She is now a billionaire and one of the most prominent woman business leaders. Most of her income comes from her share and role in Spanx.

While Blakely is more closely associated with her own brand, Spanx, her entrepreneurial endeavors and appearances on shows like "The Oprah Winfrey Show" and ABC's "Shark Tank" have contributed to her personal brand. Sara Blakely continues to own a minority stake in Spanx after selling a majority stake to Blackstone in a deal valuing the company at $1.2 billion.

Salary

Blakely's financial success is enhanced by the consistent performance of Spanx, generating around $400 million in annual revenue. While she could potentially earn around $52 million annually through wise investments, her active role as Chair of Spanx continues to contribute significantly to her income.

Sara Blakely’s assets

Sara Blakely invested in a Manhattan condo at 15 Central Park West in 2008, acquiring it for $12.11 million, and subsequently, in 2014, made a lucrative sale, fetching $30 million for the property.

Sara Blakely's Social Media following

Personal life

Sara Blakely, the accomplished entrepreneur, was born on February 27, 1971, in Clearwater, Florida. She is the daughter of Ellen and John Blakely, with her father being an attorney and her mother an artist. Blakely's career journey took an unconventional path. Initially aspiring to become a lawyer like her father, her LSAT scores fell short of law school admission requirements. This led her to a brief stint working at Walt Disney World for three months and performing as a stand-up comedian in the evenings. It was during her subsequent job selling fax machines door-to-door in the 1990s that her innovative journey toward creating Spanx began.

Sara Blakely is married to Jesse Itzler, co-founder of Marquis Jetset, a luxury private jet charter company, and they have four children. She is known for her philanthropic efforts, including launching the Sara Blakely Foundation to support women through education and entrepreneurial training. In 2013, she joined The Giving Pledge, a commitment to give away the majority of her wealth.

Sara Blakely's awards

Sara Blakely, the founder of Spanx, earned the prestigious title of "Winner of the 2021 Successful Businesswomen Award," a well-deserved accolade honoring her remarkable achievements in the world of entrepreneurship.

FAQs

When did Sara Blakely become the youngest self-made female billionaire?

Sara Blakely became the youngest self-made female billionaire in 2012.

Has Sara Blakely been featured in Time magazine?

Yes, Time magazine has recognized Sara Blakely's influence by including her on their list of the 100 most influential people.

What was Sara Blakely's career before her entrepreneurial success with Spanx?

Sara Blakely started her career as a door-to-door fax machine salesperson.