Karl Lagerfeld Net Worth: How Much Money Did Chanel Designer Have?

The fashion world is in a state of grief as it mourns the death of Karl Lagerfeld, the creative director of Chanel. The 85-year-old designer whose cause of death has not been announced as of Tuesday morning, will not only leave behind a fashion legacy, but also a vast net worth of millions of dollars.

Lagerfeld, whose real name is Karl Otto Lagerfeldt, was born in Germany and moved to France, where he landed his first fashion job working as Pierre Balmain’s assistant in 1955.

The designer went on to design for Maison Jean Patou, Tiziano, Chloé and Fendi, according to People. While a majority of Lagerfeld’s notoriety comes from his accomplishments at Chanel and reviving the fashion house’s aesthetic with more modern designs, he continued to design for Fendi for over 50 years until his death.

After becoming the head of Chanel in 1983, Lagerfeld launched his own high-end fashion label in 1984 and later collaborated with H&M in 2004, for a limited collection featuring affordable pieces.

In a 2005 interview with the The New Yorker, Lagerfeld revealed he only accepted his iconic position at Chanel after several people warned him not to take it. “Everybody said, ‘Don’t touch it, it’s dead, it will never come back.’ But by then I thought it was a challenge,” he explained.

In the end, Lagerfeld reportedly left behind a net worth of around $200 million.

The designer was rumored to be in poor health after missing Chanel’s spring 2019 haute couture show Jan. 22 in Paris.

Although Lagerfeld once referred to the term “legacy” as a “horrid word,” it’s safe to say his designs and impact on the fashion world won’t be forgotten.