| Category | Information |
|---|---|
| Net Worth | $1.5 billion |
| Salary | N/A |
| Birthdate | August 6, 1957 |
| Birthplace | San Francisco, California |
| Gender | Male |
| Height | N/A |
| Profession | Businessman, CEO, Chairman |
| Nationality | American |
What is Gary Friedman’s Net Worth?
Gary Friedman, the CEO and chairman of the upscale home-furnishings company Restoration Hardware, has a reported net worth of $1.5 billion. He is one of the most successful businessmen and retailers in the United States.
Highlights
– Gary Friedman’s net worth is estimated at $1.5 billion.
– He has served as the CEO and chairman of Restoration Hardware.
– Prior to joining RH, Friedman held various positions at Williams-Sonoma.
– He is the largest individual shareholder of Restoration Hardware.
Early Life
Gary Friedman was born on August 6, 1957, in San Francisco, California. He was raised by his mother in Sonoma after his father passed away when he was five years old. Friedman pursued higher education at a community college.
Career
Friedman’s career in retail began while he was still a college student. He started working part-time at the Gap, a clothing and accessories retailer, and quickly rose through the ranks to become a district and regional manager.
In 1988, Friedman joined Williams-Sonoma, a renowned home-furnishings and kitchenware retailer. Over the course of his 13-year tenure, he held various positions, including chief merchandising officer and president. Under his leadership, the company experienced significant sales growth, increasing from $300 million to over $2 billion.
After leaving Williams-Sonoma, Friedman joined Restoration Hardware as co-CEO in 2001. In 2011, he was appointed president and CEO. During his time at the company, Friedman played a crucial role in its expansion and success.
Personal Life
Gary Friedman has made notable real estate investments, primarily in Southern California. He owns several mansions, including a five-bedroom property in Beverly Hills which he purchased for $37 million in 2020. He also owns mansions in Malibu and previously owned a home in Saint Helena, California.
Net Worth Over Time
Gary Friedman’s net worth has fluctuated over the years. At various points, he has been worth as much as $5 billion. However, more recently, with Restoration Hardware’s market cap hovering around $5 billion, his net worth is estimated to be around $1.5 – $2 billion.
Components of Net Worth
Gary Friedman’s net worth primarily stems from his ownership stake in Restoration Hardware. As the largest individual shareholder, he owns approximately 30% of the company’s outstanding shares. His net worth is also influenced by his successful career as a businessman and retailer, along with his real estate investments.
Overall, Gary Friedman’s immense success and net worth highlight his significant contributions to the retail industry and his ability to drive the growth of Restoration Hardware.