Inside Giorgio Armani's Succession Plan: How the Fashion Icon's Estimated $12Billion Fortune Will Be Handled After His Death at 91
Giorgio Armani put plans in place for his company's future before he died.
Sept. 5 2025, Published 1:41 p.m. ET
Before legendary fashion designer Giorgio Armani passed away Thursday, he put plans in motion to ensure his namesake company would live on, RadarOnline.com can confirm.
Although the 91-year-old never married or had children, there are instructions for his legacy, including distributing his fortune among family.
The designer, seen here with Julia Roberts, passed away earlier this week.
Armani's famed fashion house announced his passing early Thursday morning, sharing he "worked until his final days, dedicating himself to the company, the collections, and the many ongoing and future projects."
His brand, which encompasses luxury clothing and accessories, perfumes, cosmetics, books, and other ventures, is valued at more than $12billion.
The notoriously private man was the sole owner of his company, and Adam Jones, a legal expert at HD Claims, told Radar that this gave him complete control over how his legacy is divided.
"Armani never married and had no children. Instead, he made meticulous preparations years in advance to secure his legacy."
According to company reports, control of the Armani Group will be divided among five personally chosen heirs: his sister Rosanna, his two nieces, one nephew, his longtime collaborator Leo Dell’Orco. All of these successors already serve on the company’s board and will receive shares according to the bylaws Armani established in 2016.
Sharing the Wealth
His fortune will be divided among five friends and relatives.
A big chunk of money will also go to the Giorgio Armani Foundation, which he established in 2016. According to Jones: "The Foundation will support charitable and social causes in line with his wishes.
Shortly before his death, Armani outlined his succession plan during an interview with the Financial Times. He told the outlet: "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."
Jones told Radar the successful businessman knew what needed to be done to protect his legacy: "In high-value estates like this, clarity is crucial. Armani’s decision to set up a foundation not only safeguards the business from external buy-outs but also minimises the risk of disputes among family members.
"By doing so, he has effectively ensured both corporate stability and the preservation of his creative vision."
Open For Business
A big chunk will also go to his Giorgio Armani Foundation.
Behind the scenes, Armani made moves to keep his company private for the foreseeable future. Major financial decisions, such as an IPO or any mergers and acquisitions, are not allowed until five years after his death, providing a period of stability.
Armani's plans go beyond the company's finances as well. The designer also gave explicit instructions that his namesake brand must continue to pursue an "essential, modern, elegant and unostentatious style with attention to detail and wearability."
The succession documents also detail the process for appointing future women’s and men’s style directors, ensuring the label’s creative direction remains true to his vision.
Labor Law Violations
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His namesake company will continue to be privately owned.
Whoever takes over will inherit the company's ongoing appeal of a hefty $4million fine for labor violations.
In April 2024, an Italian court placed a unit of Armani under partial judicial administration for one year after it found one of its suppliers used subcontractors that violated labor laws by using what it called "Chinese workshops," mainly employing Chinese and Pakistani nationals in exploitative conditions
Representatives with the Giorgio Armani group expressed "disappointment and bitterness" at the regulator's decision, adding they would appeal it before an Italian regional administrative court.
They added: "(The group) always operated with the utmost fairness and transparency towards consumers, the market, and stakeholders, as demonstrated by the Group's history."
