What is Lawrence Stroll’s net worth and how did he make his money?

The idea of a billionaire can be difficult to fathom since there are too many zeros to count. Billionaires most likely founded business ideas you use or benefit from daily. Lawrence Stroll is a billionaire behind some high-end fashion brands in your closet. He has come to the fore as the man leading one of the United Kingdom’s most prestigious brands. So, what is Lawrence Stroll’s net worth? How did he make his money?

Lawrence Stroll is a Canadian businessman, fashion tycoon, car collector, co-owner and executive chairman of Aston Martin, and the owner of the Aston Martin F1 Team. He is a recognised entrepreneur with a stake in the Aston Martin F1 Team and claims rights over the Circuit Mont Tremblant.

Lawrence Stroll’s profile summary

Lawrence Stroll’s net worth

How much is Lawrence Stroll’s net worth? The Canadian tycoon has a net worth of $3.8 billion as of 2023. He has made his fortune from the fashion and car racing industries.

His investments have seen his net worth rise from $2.4 billion in 2016 to its current value. How is Lawrence Stroll so rich? Lawrence has more than five successful business ventures.

Early business

The billionaire made most of his money from the fashion industry by bringing high-end Pierre Cardin clothing to his native Canada. This marked his debut in the fashion sector. He revamped Pierre Cardin and expanded its line of products. This ultimately increased the company’s sales and profit.

He invested in the American fashion designer Ralph Lauren, where he became one of its key investors. He significantly expanded the brand’s early success by introducing Ralph Lauren’s women’s and children’s clothing line in Canada and Europe.

Sportswear holdings

Lawrence met Silas Chou, the son of Hong Kong textile tycoon Chao Kuang-piu who became an integral part of his success in the fashion industry. In 1989, Lawrence and Silas partnered and acquired a controlling stake in the Tommy Hilfiger brand.

The two helped the brand achieve significant growth in sales and profits. The company recorded a $25 million sale in 1992, $70 million in 1993, and more than $100 million in 1994. Towards the end of the decade, their annual revenue was more than $1 billion and slightly under $2 billion in 2000. In 2006, it was sold to Apax Partners for $1.6 billion.

Capri Holdings

Lawrence and Silas invested in several brands, such as:

• Karl Lagerfeld
• Pepe Jeans
• Michael Kors

In 2002, the duo leased the first three floors of Trump Tower, where they opened up Asprey and Garrard’s New York. In 2003, they acquired most of Michael Kors for $100 million and renamed it Michael Kors Holdings. His excellence in this industry helped turn the company into a global brand.

Later, the two purchased Jimmy Choo for $1 billion, and in 2018, they bought Versace for $2.2 billion. After acquiring Versace, they renamed Michael Kors Holdings to Capri Holdings. As of 2023, Capri Holdings generates over $5.5 billion in global revenue.

Aston Martin

In 2018, Lawrence ventured into the car racing business. The personality and a group of renowned investors purchased the Force India Formula One Team. The team underwent name changes to Racing Point Force India and eventually Racing Point F1 Team.

In January 2020, the fashion tycoon invested $235 million to attain a 16.7% stake in the Aston Martin car company. After the purchase, the team was renamed from Racing Point F1 to Aston Martin.

Houses, cars, and yachts

The successful businessman owns multiple homes, including Mustique, a private island in the Caribbean. This has contributed to Lawrence Stroll’s net worth, which has kept rising daily. His other homes are in the following locations:

• London
• Mont Tremblant
• Westmount

Lawrence Stroll’s car collection shows his love for exotic automobiles, mostly vintage Ferraris. In 2013, he paid a whopping £20 million for the Ferrari 275 GTB Spyder, while in 2018, he sold off his 250 GTO for £50 million in a private sale. Some of his other expensive cars include:

• Ferrari GT40
• Ferrari F50
• Ferrari 288 GTO
• A 1996 McLaren
• A Ford GT

Lawrence Stroll’s yacht is one of the most expensive things he has ever owned. The superyacht, named Faith, was built in 2017 and valued at £200 million. Some of the yacht’s features were:

• A helipad
• A glass-bottomed swimming pool
• A beach club
• A built-in fireplace in the lounge

Even though he sold the yacht, it is alleged that he is currently building another one in replacement.

Lawrence Stroll’s fast facts

1. Who is Lawrence Stroll? Lawrence Stroll is a Canadian businessman, fashion tycoon, car collector, co-owner and executive chairman of Aston Martin, and the owner of the Aston Martin F1 Team.
2. How much does Stroll make a year? Lance Stroll makes close to $2 million per year at Aston Martin Racing.
3. Who is the owner of Aston Martin Formula 1? Lawrence Stroll is the current owner of the Aston Martin F1 team.
4. How much is Lawrence Stroll’s net worth? The Canadian tycoon has a net worth of $3.8 billion.
5. How much of Aston Martin F1 does Lawrence Stroll own? Lawrence Stroll owns roughly 30% after a $235.6 million investment in the company.
6. How did Lawrence Stroll make his money? Lawrence Stroll made his fortune from the family business in the fashion industry before participating in other ventures.
7. Who is Lawrence Stroll married to? Lawrence Stroll is married to Raquel Stroll after divorcing Claire-Anne Stroll, a Belgian-born businesswoman and fashion designer.
8. Where does Lawrence Stroll live? He lives in London, Quebec, and Geneva, where he owns several homes.

Final word

Lawrence Stroll’s net worth has sky-rocketed in recent years, with his latest estimates ranking him among the top 1000 richest people in the world. The Canadian billionaire made his fortune in fashion before becoming a racing boss. He loves splashing his cash on an enviable collection of vintage vehicles and other high-end properties.

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Source: TUKO.co.ke