Italian fashion legend Valentino Garavani dies at 91: A look at his staggering net worth

Italian fashion legend Valentino Garavani has died, his foundation confirmed in a statement shared on Instagram. The designer “peacefully passed away at his residence in Rome, surrounded by the love of his family,” the post said. Revered simply as Valentino, he built one of the most recognizable luxury fashion houses in the world, dressing generations of royalty, Hollywood icons, and modern-day stars.

Born in Voghera in northern Italy, Valentino trained in Paris couture houses before returning to Italy to launch his own label in Rome in 1959. He quickly developed a distinct aesthetic rooted in elegance and drama, most famously expressed through his rich scarlet gowns, a hue so closely associated with him it became known across the industry as “Valentino red.”

From Hollywood muses to red carpet history

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Valentino’s ascent was closely tied to the women who wore his designs. One of his earliest and most important clients was Elizabeth Taylor, whom he met while she was filming Cleopatra in Rome in the early 1960s. From there, his clientele expanded to include Begum Aga Khan, Queen Paola of Belgium, Audrey Hepburn, Joan Collins, and Jacqueline Kennedy. Kennedy later chose a Valentino gown for her 1968 wedding to Greek shipping magnate Aristotle Onassis, cementing the designer’s place in fashion history.

His work continued to define red carpet moments for decades. Among the most celebrated were the beaded gown Jane Fonda wore in 1981 when accepting an Oscar on behalf of her father, Henry Fonda; the vintage black-and-white Valentino dress Julia Roberts wore in 2001; Jennifer Lopez’s pastel mint caftan-style gown in 2003; and Cate Blanchett’s sunshine yellow dress in 2005, years in which Roberts and Blanchett both won Academy Awards. At the 2011 Oscars, Anne Hathaway walked the red carpet in an ornate 2002 Valentino gown, accompanied by the designer himself. In more recent years, stars such as Zendaya and Anne Hathaway continued to wear the brand, underscoring its lasting relevance.

Building a billion-dollar fashion empire

A key turning point in Valentino’s career came in 1960, when he met Giancarlo Giammetti, then an architecture student. Giammetti became both his business partner and, for 12 years, his romantic partner. Together, they transformed Valentino SpA into a global luxury powerhouse, expanding far beyond couture into ready-to-wear, accessories, and fragrances.

Valentino announced his retirement in early 2008 following his final haute couture show in Paris, stepping away from day-to-day design but leaving behind a brand valued in the billions. According to Vanity Fair, Valentino and Giammetti own an expansive international property portfolio, with homes and apartments around the world, including London’s Holland Park and the Château de Wideville outside Paris. Celebrity Net Worth estimates Valentino Garavani’s personal net worth at approximately US$1.5 billion, a figure that reflects not only commercial success but a legacy that reshaped modern couture.