Last Updated on September 13, 2024
Donatella Francesca Versace is an Italian fashion designer, businesswoman, model, and socialite. She’s best known for being the sister of Gianni Versace, founder of the luxury fashion giant Versace.
Donatella Versace Quick Facts
| Full Name: | Donatella Francesca Versace |
| Popular Name: | Donatella Versace |
| Nicknames: | N/A |
| Birth Date: | May 2, 1955 |
| Age: | 67 years |
| Parents: | Antonio Versace and Francesca Versace |
| Siblings: | Santo Versace, Gianni Versace (deceased), and Tina Versace (deceased) |
| Birth Place: | Reggio Calabria, Calabria, Italy |
| Nationality: | Italian |
| Ethnicity: | Italian |
| Religion: | Christianity |
| Education: | The University of Florence |
| Marital Status: | Divorced; previously married to Paul Beck (from 1983 until their divorce in 2000) and Manuel Dallori (from 2004 until their divorce in 2005) |
| Sexual Orientation: | Straight |
| Children: | Allegra Versace Beck and Daniel Versace Beck (all from her marriage to Paul Beck) |
| Net Worth: | USD 400 million |
| Source of Wealth: | Fashion Design, Modeling, and Other Entrepreneurial Ventures |
| Height: | 5′ 5″ (1.65 m) |
| Weight: | In kilograms: 55 kg; In pounds: 121 lbs. |
Early Life and Career Information
Early Life
Donatella Francesca Versace was born on May 2, 1955, in Reggio Calabria, Calabria, Italy, to Antonio Versace and Francesca Versace. Her father run the family’s coal mining business, whereas her mother worked as a seamstress for a fashion company before later establishing her own fashion boutique.
Versace studied literature and languages at the University of Florence.
Career Information
Donatella Versace took an interest in the fashion business from a fairly tender age.
In 1977, Donatella and her brothers Gianni and Santo traveled to the United States in search of a market for their soon-to-be-launched Versace brand. Versace was established the following year, with Donatella becoming the company’s first vice president.
Besides her administrative roles as Versace’s vice president, Donatella also doubled up as the company’s creative advisor. She was instrumental in creating Versace’s brand image as well as styling and designing its fashion accessories.
In the mid-90s, Donatella assumed leadership of the Versace brand while her brother Gianni was recovering from cancer. On July 15, 1997, Gianni was murdered outside the family’s Versace Mansion in Miami, Florida.
Following Gianni’s death, Donatella’s brother Santo inherited 30% of Versace, her daughter Allegra inherited 50%, and Donatella inherited 20% of the company. Donatella also managed Allegra’s inheritance considering that the latter had not come of age.
Donatella dedicated the next couple of years to popularizing the Versace brand even further. She’s credited with designing advertisement campaigns for Versace featuring multiple high-profile celebrities. Noteworthy ones include Madonna, Christina Aguilera, Courtney Love, Demi Moore, Beyoncé, Lady Gaga, Jonathan Rhys Meyers, Nicki Minaj, and January Jones. Donatella is also noted for designing the famous Green Versace dress for Jennifer Lopez known as “Jungle-Dress,” which Lopez donned during the 42nd Grammy Awards.
In 2018, Versace was sold to Michael Kors for $2.12 billion.
Donatella Versace’s Net Worth
Versace is one of the world’s most commercially successful luxury fashion brands. The company has been generating billions of euros in annual revenue in the past couple of years. In 2017, Versace’s revenue was €1.7 billion. That’s about USD 1.77 billion.
Now, Donatella has spent much of her professional career at Versace. When her brother Gianni died in 1997, she inherited a substantial portion of the Versace brand previously held by Gianni. Donatella has also held multiple high-ranking positions in the company, including working as its creative director, vice president, chief executive officer (CEO), and chief creative officer.
In 2014, the private equity company Blackstone acquired a 20% stake in the Versace brand. During this period, Versace was valued at around $1.4 billion and Donatella’s 20% stake in the brand translated into $280 million.
Due to her multiple involvements with a billion-dollar brand, it’s intuitive to imagine that Donatella Versace is equally a billionaire. However, that’s not true. The high-flying fashion designer has a net worth of $400 million, as at November 1, 2022.
But although Donatella’s current net worth is $600 million shy of the billion-dollar mark, it’s more than she can spend in another lifetime.
Lessons from Donatella Versace
1. It’s never too early to discover your passion
Donatella Versace discovered she was destined for a career in the fashion industry right from her childhood. She once stated, “I knew I was going to work in fashion; I really didn’t think of nothing else.”
2. Nurture a strong work ethic
It’s easy to attribute Donatella Versace’s immense wealth to her inheritance of the Versace brand. However, Donatella developed a strong work ethic from a young age. She reportedly worked with her brother Gianni at the Callaghan fashion label while still attending the university.
3. Give back
Donatella has actively engaged in charitable causes over the years. She’s a frequent patron of the Elton John AIDS Foundation. She has also supported the Nelson Mandela Children’s Fund and the Revlon/UCLA Women’s Cancer Research Program, among many other similar initiatives.
Famous Quotes by Donatella Versace
• Every woman likes sex. If they don’t like it, they should go to a shrink!
• For a woman to have credibility, they have to work three times more than a man… I sit on the board of directors, I’m the only woman. And I dress some of the most powerful women in the world. So I think I’m a feminist. I show to women that you can do it.
• I know fashion is not something that can change the world, but it can change the woman. It can empower the woman. It can make her strong, in herself, and to believe in herself more.
• I’m sure I made a lot of mistakes with my children… But if you stay home, I think you make more mistakes.
• Italian men are very vain.
Summary
Donatella Versace may have shot into the limelight for being the sister of famous fashion designer Gianni Versace. However, she has probably played the biggest role in making the Versace brand the global fashion powerhouse it is today. Thanks to her determination and strong work ethic, Donatella is currently worth a jaw-dropping $400 million.
