Miuccia Prada Net Worth

What Is Miuccia Prada's Net Worth?

Miuccia Prada is an Italian fashion designer and entrepreneur who has a net worth of $7 billion. Miuccia Prada earned her net worth by taking over the family-owned luxury goods manufacturer in 1978, which was owned by the Prada brothers. She began making waterproof backpacks out of Pocone. Miuccia is known for her understated, minimalist, classic, cool, and comfortable luxury. She designs clothes that take account of a woman's curves and, at the same time, communicate intelligence as well as a sense of fun.

Personal Life

Miuccia Prada was born Miuccia Prada Bianchi on May 10th, 1949, in Milan, Italy. She is the daughter of Luigi Bianchi and Luisa Prada. She was adopted by her aunt and dropped the name Bianchi.  Miuccia went to Liceo Classico Berchet high school in Milan and has a Ph.D. in Political Science from the University of Milan.

Career

Oddly enough, Prada actually set out to be a professional mime, training at Teatro Piccolo's mime school and performing for five years. Prada was involved in the women's rights movement in Milan during the '70s and was a member of the Italian Communist Party.

The company Prada, which produces luxury bags, was established by her grandfather in 1913. Originally in the role of overseeing the design of the accessories, Prada and her husband, Patrizio Bertelli, took over the family-owned luxury goods manufacturer in 1978. Since then, they've turned it into a fashion powerhouse, acquiring Jil Sander, Helmut Lang and shoemaker Church & Co. Prada has 250 fully owned shops around the world. Miuccia is entirely in charge of the company's creative decisions and says she bases her decisions mostly on intuition. She is reported to be overly fussy about each detail of her design.

In 1985, Miuccia designed a line of black, finely woven nylon handbags that instantly became a hit. She designed and introduced her first women's ready-to-wear collection that was critically acclaimed in 1989, and then in 1995, she introduced men's wear and then launched the Miu Miu line. Miu Miu was introduced in 1992 as a less expensive women's wear line that was inspired by Miuccia's personal wardrobe and her own nickname. In 1993, she was honored with the prestigious Council of Fashion Designers of American International Award. Prada had an opportunity in 1994 to showcase her collections and designs for both the London and New York fashion weeks and had a long-standing showing at Milan's fashion week.

Prada is the CEO of Prada along with her husband. Her husband, Patrizio Bertelli, is still the predominant business force in the company who is responsible for the commercial side of products and Prada's retail strategy. The company has since expanded into shoes, fragrances, leather goods, and more. Miuccia stepped down as the brand's sole creative director in 2020. Due to the COVID-19 pandemic, her final collection was presented in a sequence of several short films. Artist collaborations on the films included Martine Syms and Juergen Teller, along with Raf Simons.

Personal Life

Miuccia met her husband and business partner, Patrizio Bertelli, at the same time she took the helm of the family company. They have two sons, and their eldest son is rally driver Lorenzo Bertelli. The two live in the apartment where Miuccia was born. Milan prosecutors investigated Prada and Bertelli in 2014 as part of a tax evasion probe. They both paid more than 400 million euros in 2016 to settle their tax bill, which is roughly $429 million USD.

Prada collects contemporary art. She owns several pieces by Young British Artists and is close friends with many world-renowned artists.