Introduction
Forbes estimated Peter Nygard net worth to be $890 million USD in 2015. As of 2019, his net worth is estimated to be $700 million USD. Peter Nygard is a Finnish-Canadian fashion designer, businessman, and philanthropist. He is the founder and chairman of Nygård International, a Canadian fashion company that manufactures women’s clothing, swimwear, and beauty products.
Peter Nygard Net Worth
According to celebritynetworth.com, Peter Nygard has a net worth of $800 million. Nygard is a Finnish-Canadian fashion executive who is the founder and former chairman of Nygård International, a clothing company based in Winnipeg, Manitoba, Canada.
Nygård was born in Helsinki, Finland, on August 24, 1941. His family moved to Canada when he was three years old and settled in Winnipeg. Nygard studied at St. Paul’s High School and the University of Manitoba, where he received a degree in business administration.
In 1967, Nygard founded Nygård International, a women’s clothing manufacturer and retailer. The company became successful and grew to include more than 140 stores across Canada. In the 1980s, Nygård expanded his business into the United States, opening stores in New York City and Los Angeles.
In 1999, Nygard took his company public on the Toronto Stock Exchange. The following year, he sold a majority stake in the company to Louis Vuitton Moët Hennessy (LVMH), but retained control of its operations.
Since selling his stake in Nygård International, Nygard has focused on philanthropic work through the Peter J. Nygård Foundation. The foundation supports many charitable causes including education, health care, the environment, and human rights.
Early Life and Career
Peter Nygard was born in Finland in 1941. His family moved to Canada when he was a young child, and he later became a naturalized citizen. Nygard attended the University of Manitoba, where he studied architecture. After graduation, he began working for his father’s clothing company.
Nygard eventually took over the company and turned it into a successful international fashion empire. He has also been involved in various philanthropic endeavors, including the Nygard Foundation, which provides support for education and medical research.
In recent years, Nygard has been embroiled in scandal, accused of sexual assault by multiple women. He has denied all allegations against him.
Peter Nygard Net Business Ventures
In addition to his successful fashion career, Peter Nygard has also ventured into several businesses. He has developed real estate in various countries, including the Bahamas and Canada. In 2006, he launched a home shopping channel called NYGARD Home Shopping Network. He also has a stake in a Canadian oil and gas company.
With all of his business ventures, Nygard has an estimated net worth of $900 million. Despite all of his success, Nygard has had his share of legal troubles. In 2009, he was sued by Louis Bacon for allegedly trying to ruin Bacon’s reputation. The case was eventually settled out of court.
Peter Nygard Net Controversies
Peter Nygard has been embroiled in a number of controversies throughout his career. In 2009, he was accused of bribing officials in the Bahamas in order to gain approval for his luxury resort development project.
In 2015, Nygard was sued by a group of Bahamian residents who claimed that the resort had destroyed their homes and livelihoods. The case is still ongoing.
In 2016, Nygard was accused of sexual assault by a number of women. He has denied all allegations against him.
Despite the controversies, Nygard continues to be successful in business. His current net worth is estimated to be $800 million.
Peter Nygard Net Philanthropy
In recent years, Nygard has given away millions of dollars to charities, including the Nygard Braille Foundation, which provides free Braille books to children around the world. He has also donated to educational institutions such as the University of Manitoba and York University.
Conclusion
Peter Nygard is a Finnish-Canadian fashion executive with a net worth of $900 million. He is the founder of Nygård International, a clothing company based in Winnipeg, Manitoba. Nygard has been involved in several controversies, including allegations of sexual assault and rape.