Name: Leslie Herbert Wexner
Age: 88
Birthday: September 8, 1937
Born: Dayton, Ohio, USA
Net Worth: Approximately $9.2 billion
Fun Fact: He started The Limited in 1963 with a $5,000 loan from his aunt and grew it into a retail empire that included Victoria's Secret and Bath & Body Works.
Les Wexner stands as one of America's most successful retail entrepreneurs, a billionaire who transformed a modest loan into a global fashion and beauty empire. With an estimated net worth of $9.2 billion, the Ohio native's journey from a family clothing store to founding Victoria's Secret and Bath & Body Works represents a classic American success story. His impact on retail is undeniable, having shaped shopping habits for decades and creating brands that became household names.
From Family Store to Fashion Empire: The Wexner Rise
Leslie Herbert Wexner was born on September 8, 1937, in Dayton, Ohio, to Russian immigrant parents who owned a small clothing store called "Leslie's" in Columbus. After graduating from Ohio State University, Wexner worked in his parents' store but soon realized he had different ideas about retail. While traditional stores carried clothing for the entire family, Wexner saw an opportunity to specialize in high-turnover items for young women. In 1963, with a $5,000 loan from his aunt, he opened his first store called The Limited in the Kingsdale Shopping Center in Columbus.
The concept was revolutionary for its time: focus exclusively on fashionable clothing for young women at reasonable prices. The Limited was an immediate success, generating $160,000 in sales during its first year. According to the Academy of Achievement, Wexner's parents initially doubted his approach but soon saw the wisdom in his specialization strategy. By 1969, The Limited had gone public, and Wexner began expanding rapidly through both organic growth and strategic acquisitions.
The Building of a Retail Dynasty: Key Milestones
Wexner's career is marked by several transformative decisions that built his fortune. In 1982, he made what would become his most famous acquisition: purchasing a struggling San Francisco lingerie retailer called Victoria's Secret for $1 million. At the time, the company consisted of just six stores, but Wexner saw potential in creating a sophisticated, European-inspired lingerie brand for the American market. Under his leadership, Victoria's Secret grew into a global powerhouse, revolutionizing how lingerie was marketed and sold.
Throughout the 1980s and 1990s, Wexner continued to expand his portfolio. He launched Express in 1980 to target younger women, acquired Lane Bryant in 1982 to serve plus-size customers, and purchased Abercrombie & Fitch in 1988, transforming it from a struggling outdoor retailer into a trendy youth brand. In 1990, he founded Bath & Body Works, which quickly became a leader in personal care and home fragrance products. These brands were consolidated under L Brands (originally called The Limited Brands), creating a retail conglomerate that dominated shopping malls across America.
The Business Genius Behind the Billions
Wexner's success wasn't just about buying companies—it was about understanding consumer psychology and retail operations at a fundamental level. His "specialist" approach, focusing on specific market segments rather than trying to be everything to everyone, became a model for modern retail. Business Insider notes that Wexner had an exceptional eye for real estate, personally selecting store locations and understanding exactly where his target customers shopped.
Another key to his wealth accumulation was his hands-on management style and attention to detail. Unlike many CEOs who delegate store operations, Wexner was known for visiting stores regularly, talking to employees, and constantly tweaking merchandise displays. He maintained majority control of L Brands for decades, ensuring that as the company's value grew, so did his personal fortune. By the late 1990s, Wexner had become one of the richest people in America, regularly appearing on the Forbes 400 list with a net worth that would eventually peak at over $10 billion.
The Ohio Billionaire's Current Standing
In recent years, Wexner's fortune has remained remarkably stable despite retail industry challenges. According to Forbes' 2025 ranking, Wexner and his family placed at No. 137 on the Forbes 400 list with a net worth of $9.3 billion, up from $7.9 billion in 2024. Yahoo Finance reported in September 2025 that the 88-year-old billionaire "jumped nine spots" on the list, demonstrating that his wealth continues to grow even in his later years.
Wexner stepped down as CEO of L Brands in 2020 amid changing retail dynamics and controversies surrounding his former association with Jeffrey Epstein. However, he remains chair emeritus of Bath & Body Works, which was spun off as a separate company in 2021. Victoria's Secret was also spun off as an independent company, but Wexner retains significant ownership stakes in both businesses. His wealth is primarily tied to these holdings, along with extensive real estate investments and other assets.
Philanthropy and Legacy: More Than Just Money
Beyond his business achievements, Wexner is known for his substantial philanthropic contributions, particularly in his home state of Ohio. He has donated nearly a quarter of a billion dollars to Ohio State University, including the naming gift for the Wexner Medical Center. According to Forbes, his donations have also supported Nationwide Children's Hospital, the National Veterans Memorial and Museum in Columbus, and Harvard University's Center for Public Leadership.
Wexner's philanthropic philosophy extends beyond simple donations. He has been actively involved in community development, particularly in New Albany, Ohio, where he helped transform a rural area into one of the wealthiest communities in the state. His approach to philanthropy mirrors his business strategy: focused, strategic, and aimed at creating lasting impact rather than temporary solutions.
The Bottom Line: Understanding Wexner's Wealth
Les Wexner's $9.2 billion net worth represents more than just financial success—it's the result of decades of retail innovation, strategic risk-taking, and an almost uncanny understanding of consumer desires. From that initial $5,000 loan to building brands that defined generations of shopping experiences, Wexner's journey exemplifies the American entrepreneurial dream.
Today, even in semi-retirement, Wexner remains one of Ohio's richest residents and a towering figure in retail history. His wealth continues to grow through strategic investments and ownership stakes in the companies he built, ensuring that his legacy—and his fortune—will endure for years to come. For aspiring entrepreneurs, Wexner's story offers powerful lessons in specialization, persistence, and the transformative power of a single good idea executed with precision.
