Sara Blakely Net Worth

Sara Blakely is an American entrepreneur, philanthropist, and fashion innovator with an estimated net worth of $1 billion. She is the founder of Spanx, the revolutionary shapewear brand that transformed the apparel industry. Blakely became one of the youngest self-made female billionaires in the United States after selling a majority stake of Spanx to Blackstone in 2021 at a valuation of $1.2 billion.

Her wealth comes from her ownership of Spanx, investments, real estate, and her work as a philanthropist and minority owner of the NBA’s Atlanta Hawks.

Sara Blakely Net Worth: $1 Billion
Date of Birth: February 27, 1971
Place of Birth: Clearwater, Florida
Nationality: American
Profession: Entrepreneur, Philanthropist, and Fashion Innovator

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Early Life

Sara Treleaven Blakely was born on February 27, 1971, in Clearwater, Florida, to Ellen, an artist, and John Blakely, an attorney. She has a brother, Ford, who is also an artist.

Blakely graduated from Clearwater High School in 1989 and earned a bachelor’s degree in communications from Florida State University in 1993, where she was a member of the Delta Delta Delta sorority. Originally planning to become a lawyer, she changed course after scoring too low on the LSAT. Early in her career, she worked at Walt Disney World and performed as a stand-up comedian.

The Birth of Spanx

While working as a door-to-door fax machine salesperson in Florida, Blakely grew frustrated with uncomfortable pantyhose. She cut the feet off a pair of hosiery to create a smoother look under white pants—an idea that became the first prototype of Spanx.

With just $5,000 in savings, Blakely filed her own patent, developed prototypes, and approached a hosiery manufacturer in North Carolina who agreed to produce her design. After demonstrating her product to a buyer at Neiman Marcus by wearing it herself, she secured the store’s first order of 7,000 units, quickly followed by Saks, Bergdorf Goodman, and Bloomingdale’s.

Oprah Winfrey’s endorsement in 2000, naming Spanx one of her “Favorite Things,” propelled the brand to national fame. Sales skyrocketed, with $4 million in the first year and $10 million in the second.

Business Expansion and Innovations

Blakely expanded Spanx beyond shapewear into bras, leggings, denim, activewear, and bodysuits. She marketed the products directly to consumers, using humor-driven branding and emphasizing empowerment over conformity. She maintained full ownership of the company for years, resisting outside investors.

In 2007, she partnered with Target to launch the lower-cost line Assets by Sara Blakely, making Spanx accessible to a broader audience. By 2017, Spanx had $400 million in estimated sales, cementing Blakely’s reputation as a pioneering entrepreneur.

Philanthropy and Giving

Sara Blakely founded the Sara Blakely Foundation in 2006 to support women through education and entrepreneurship programs. She also joined The Giving Pledge in 2013 alongside her husband, Jesse Itzler, committing to donate the majority of her wealth to charitable causes.

Her philanthropic efforts extend to global initiatives, particularly empowering women and fostering education and entrepreneurial opportunities worldwide.

Personal Life

Blakely married entrepreneur Jesse Itzler in 2008, and they have four children together. The couple met at a NetJets poker tournament and share business and philanthropic ventures.

In 2015, Sara and Jesse became minority owners of the NBA’s Atlanta Hawks, further diversifying their wealth. Blakely has also appeared as a guest judge on ABC’s Shark Tank and gained public attention for unique contributions, such as purchasing Olivia Newton-John’s black pants from Grease for charity in 2019.

Real Estate Holdings

Blakely has made high-profile real estate investments. In 2008, she purchased a 3,093-square-foot Manhattan condo at 15 Central Park West for $12.11 million, later selling it in 2014 for $30 million, showcasing her acumen in property investment.