Giorgio Armani, the Italian designer who turned his name into one of the most powerful brands in fashion, has died at the age of 91. The Armani Group confirmed his passing on September 4, 2025, sharing the news in a statement on Instagram.
“Il Signor Armani, as he was always respectfully and admiringly called by employees and collaborators, passed away peacefully, surrounded by his loved ones,” the company wrote. The tribute described him as “a tireless driving force,” and promised that both family members and longtime employees would carry on his work with “respect, responsibility, and love.”
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Just months earlier, in June 2025, Armani missed his runway show at Milan’s Men’s Fashion Week — the first absence of his career. At the time, the company noted only that he was recovering at home, without giving details about his health.
Across more than five decades, Armani redefined modern tailoring and became the face of Italian elegance. He reshaped men’s and women’s suits, brought new sophistication to Hollywood red carpets, and expanded his business into fragrance, beauty, sports, music, and luxury hotels. Today, the Armani Group generates over £2 billion annually.
As tributes pour in, so do questions about his billion-dollar net worth and the future of his empire.
What Was Giorgio Armani’s Net Worth?
According to Forbes, Giorgio Armani left behind a fortune of $12.1 billion at the time of his death. Over more than fifty years in fashion, he rose to become one of the industry’s most successful names, best known for modernizing the power suit and setting a new standard for elegance in men’s and women’s clothing.
He began his career in Milan at La Rinascente, first working in window display and later in menswear. From there, he joined Nino Cerruti as a designer. With support from his business partner Sergio Galeotti, he also freelanced for several fashion houses before the two founded Giorgio Armani S.p.A. in 1975. Their first collections introduced relaxed tailoring and muted colors, which immediately set his work apart from traditional styles of the time.
Most of his wealth came from the company that bore his name, but Armani also built a wide range of assets. He bought the Italian basketball team Olimpia Milano, developed real estate and hotel projects, and owned a 200-foot yacht.
Armani never married and had no children. In a Financial Times interview before his death, he outlined how the business would continue. “My plans for succession consist of a gradual transition of the responsibilities that I have always handled to those closest to me… such as Leo Dell’Orco, the members of my family and the entire working team,” he said.
