Richard Saghian
Source of wealth: Fast fashion
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The scale of their wealth
Health
The price of life
Let's compare Richard Saghian's fortune with the healthcare spending of a massive country
Richard Saghian could fund the entire healthcare system of DR Congo, with a population of over 105,800,000 people, for approximately 1.0 years.
But even if we compare their fortune with that of a rich country
On the other end, Richard Saghian could cover the healthcare spending of Luxembourg, considered the most heavily funded healthcare system in the world, for 0.4 years.
Education
Buying the future
Let's also compare their fortune with education spending, first with a poor country
Richard Saghian could cover the total cost of Nigeria's education system, the most populous country in Africa with over 243,000,000 inhabitants, for 0.6 years.
And yes, we can also compare it with a rich country
But they couldn't just cover the cost of a poor country; Luxembourg is considered the country with the highest per capita investment in education in the world, and Richard Saghian could pay for it entirely for 0.9 years.
Research
The monopoly on progress
Coming full circle, we think it's also interesting to add another gigantic country
Richard Saghian could fully fund the state research budget of Pakistan, the fifth most populous country in the world with over 260,000,000 inhabitants, for 3.6 years.
And of course, the country that invests the most per capita worldwide
But even if we compare the total wealth of Richard Saghian with Israel, the country that invests the most per capita in research in the world, they could cover the total cost of the system for 0.1 years.
Gold
Everyday luxuries
Richard Saghian's fortune is equivalent to 15 tons of gold. It's hard to process, since we don't usually keep a handful of gold bars in our piggy banks.
A standard gold ring usually weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18 karats.
Based on today's gold price (excluding the jeweler's commission, shipping, or anything else), that ring would be worth $549.34.
Richard Saghian could buy 3,911,986 gold rings. That's a lot of fingers and way too many gifts!!
And if you're struggling to visualize that many rings, it would take 1 trucks to transport them. Although Richard Saghian will almost certainly have enough money left over to pay for the gas.
Biography
Richard Saghian is the founder and CEO of fast fashion company Fashion Nova, which generates some $2 billion in annual sales.
The son of Iranian immigrants, Saghian started the company in 2006 after dropping out of college.
He offered hundreds of new clothing styles a week, promoted on Instagram by influencers and celebrities like Cardi B.
In 2018, Fashion Nova was the most Googled fashion brand, beating out the likes of Louis Vuitton, Versace and Gucci.
Saghian owns several properties in Los Angeles, including a sprawling hilltop estate in Bel Air that he purchased for $141 million.
Financial Assets
Financial assets information not available.
Monthly wealth history
Fortune comparison
Historical data not available for comparison