Sara Blakely is an American businesswoman, entrepreneur, and philanthropist who is best known as the founder of Spanx, a women’s clothing line that specializes in shaping garments. Blakely is a self-made billionaire who built her empire from scratch, starting with just $5,000 in savings. In this blog post, we will explore Sara Blakely’s net worth and her sources of income.
Early Life and Career Beginnings
Sara Blakely was born on February 27, 1971, in Clearwater, Florida. She grew up in a middle-class family and attended Florida State University, where she studied communications. After graduation, Blakely worked as a door-to-door salesperson for several companies, including Danka, an office supply company.
Blakely’s big idea for Spanx came about in 1998 when she was getting ready for a party and realized she didn’t have the right undergarment to wear under her white pants. She cut off the feet of her pantyhose and wore them instead, and found that they worked perfectly. Blakely spent the next two years researching and developing her idea before launching Spanx in 2000.
Spanx and Success
Spanx began with just one product, footless pantyhose, but quickly expanded to include other shaping garments, such as bodysuits, camisoles, and bras. The brand became an instant success, thanks in part to Blakely’s innovative marketing strategies.
Blakely focused on creating a positive and empowering message for her customers, and her “before and after” photos of women wearing Spanx became a hallmark of the brand. Blakely also relied heavily on social media marketing, partnering with influencers and celebrities to promote her products.
In 2012, Blakely became the youngest self-made female billionaire in the world, with a net worth of $1 billion. She was just 41 years old at the time. Today, Blakely’s net worth is estimated at $1.2 billion, making her one of the wealthiest self-made women in the world.
Other Business Ventures and Philanthropy
In addition to Spanx, Blakely has been involved in several other business ventures. She launched The Belly Art Project in 2016, a book and website that features pregnant women’s bellies decorated with artwork to raise awareness for maternal health issues.
Blakely is also a frequent guest on TV shows, podcasts, and at conferences, where she shares her entrepreneurial journey and encourages other women to pursue their dreams. She has also written a book called “The Belly Art Project: Moms Supporting Moms.”
In 2013, Blakely founded the Sara Blakely Foundation, which supports women through education and entrepreneurship. The foundation has donated millions of dollars to organizations that help women and girls, including Girls Inc., a nonprofit that provides educational and mentoring programs for young girls.
Sources of Income
Sara Blakely’s main source of income is Spanx, which is a privately held company. While exact revenue figures are not publicly available, it’s estimated that Spanx generates hundreds of millions of dollars in annual revenue.
Blakely also earns money from speaking engagements, book sales, and her other business ventures, such as The Belly Art Project. In addition, she has made several smart investments over the years, including a stake in the Atlanta Hawks basketball team.
Conclusion
Sara Blakely is a true inspiration for women entrepreneurs everywhere. She built a billion-dollar empire from scratch and has used her success to help other women achieve their goals. With her innovative ideas and entrepreneurial spirit, it’s no surprise that Blakely’s net worth continues to grow year after year.