Understanding the world of finance can be challenging. But, one name that has left a significant mark in the industry is Mossimo Giannulli.
As of 2023, Mossimo Giannulli net worth is under close examination.
This article by Byboe aims to clarify his financial standing, the factors contributing to his fame, and his successful journey. Let’s follow!
| Net Worth | $100 Million |
| Date of Birth | April 23, 1932 – March 26, 1990 |
| Place of Birth | Los Angeles |
| Gender | Male |
| Profession | Fashion designer |
| Nationality | U.S |
Table of Contents
What is Mossimo Giannulli Net Worth and Salary in 2023?
According to reports, Giannulli’s net worth is reported to be approximately $80 million in 2023.
This enormous sum is primarily attributed to his renowned clothing line, Mossimo, and other successful investments.
But remember that exact estimates of net worth can change depending on things like investments, spending, and changes in market value.
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Why is Mossimo Giannulli Famous?
Mossimo Giannulli‘s name rings a bell for many reasons. He is a well-known fashion designer, entrepreneur, and founder of Mossimo, a global clothing brand. His significant contributions to the fashion industry have built his reputation.
However, Giannulli’s fame doesn’t solely stem from his professional achievements. His marriage to actress Lori Loughlin and his role in the 2019 college admissions scam has gotten a lot of attention.
Mossimo Giannulli Overview
Early Life
Mossimo Giannulli, originally named Massimo Giannulli, was born on June 4, 1963, in Los Angeles, California.
He was born to Gene, an architect, and Nancy Giannulli, a homemaker of Italian descent. Mossimo spent his childhood in Encino, California, where he attended school.
In the first grade, a teacher suggested that he change his first name to Mossimo, as it was easier to pronounce.
After completing high school, Mossimo Giannulli pursued higher education at the University of Southern California (USC), where he studied business and architecture for three years before dropping out in 1987.
While at USC, he lived at the Beta Theta Pi fraternity house, despite not being a fully matriculated student. Giannulli’s decision to leave college was driven by his passion for fashion and his desire to create his own streetwear line.
Career
In the early stages of his career, Giannulli created Mossimo on Balboa Island in Newport Beach, California.
During his first year in business, he grossed $1 million, which grew to $4 million in the following year.
By 1995, the Mossimo collection expanded to include women’s clothing and men’s tailored suits.
After eight years in business, Mossimo, Inc. had grown into a multimillion-dollar lifestyle sportswear and accessories company.
In 1996, Mossimo went public with an initial public offering. However, the company faced challenges when its shares tumbled from $50 to $4 after Giannulli failed to transition from streetwear/beachwear to high fashion.
In response, he made the decision to shift the brand to a lower price range and entered into a significant licensing agreement with Target stores in 2000.
The agreement was valued at $27.8 million and encompassed multiple products. Mossimo was eventually acquired by Iconix Brand Group in 2006.
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Personal Life
In his personal life, Mossimo Giannulli is married to actress Lori Loughlin. The couple tied the knot in a small ceremony in 1997, two years after meeting at a restaurant.
They have two daughters, Isabella Rose and Olivia Jade, and a son named Gianni.
College Bribery Arrest
Despite achieving success in the fashion industry, Giannulli encountered legal problems in 2019. He and his wife were arrested on allegations of being involved in a nationwide college entrance exam cheating scandal.
They were charged with conspiracy to commit mail fraud and honest services fraud.
After initially denying the charges, the couple later pled guilty as part of a plea bargain.
Giannulli was sentenced to five months in prison, fined $250,000, and ordered to complete 250 hours of community service.
He did his time at the medium-security federal prison in Lompoc, California. He was freed at the beginning of April 2021 and will finish his time at home.
Real Estate
In 2020, Lori Loughlin and Mossimo Giannulli decided to sell their Bel Air mansion for $28 million. The Spanish-style property was purchased by the couple in 2015 for $13.9 million.
In the summer of 2020, they purchased a modern farmhouse in Hidden Hills, California, for $9.5 million.
In September 2021, they made another notable real estate investment by acquiring a vacation home worth $13 million. The property is situated in the prestigious private residential community called the Madison Club, located in La Quinta, California.
FAQs about Mossimo Giannulli
Who owns Mossimo?
- Iconix Brand Group
- The Pacific Brands
Why did Lori go to jail?
Lori Loughlin starts her two-month prison term for cheating on her college application.
Does Lori Loughlin have a husband?
Lori Loughlin and Mossimo Giannulli’s relationship is doing well after they were both released from jail and took a much-needed trip to Mexico.
Conclusion
Mossimo Giannulli is a successful fashion entrepreneur. He has had both good and bad times in his life. This shows how unpredictable fame and success can be in the fast fashion and star world.
Despite encountering legal and professional challenges, Giannulli’s net worth remains impressive in 2023. This demonstrates that he continues to exert a significant influence in the fashion industry.
