Alexander Wang Net Worth: Designer Dropped Out Of College Before Starting Global Brand

Alexander Wang is now worth tens of millions, 15 years after launching his eponymous label. Here’s how he managed to build his fortune.

Wang’s net worth is estimated to be $50 million by Celebrity Net Worth. On the other hand, Highsnobiety.com put his current net worth at $90 million.

Wang was creative director at Balenciaga from November 2012 through July 2015. Despite being one of the highlights of his career, he admitted in an episode of Business Insider's podcast "This Is Success" last year that his stint with the fashion house was also one of the most trying periods of his life. But all the hardship he faced only made him stronger and more focused.

Before becoming a respected leader in the fashion industry, Wang dropped out of Parsons School of Design in 2004 to prove himself. Armed with a $10,000 loan from his mother, he pursued the launch of his own fashion label at just 20 years old.

In an industry where fame and popularity come and go, one of Wang’s strengths is longevity. He has collaborated with various brands and often takes a unique approach when it comes to his collections. This was perhaps why he was awarded one of the most influential prizes in the fashion industry, the CFDA/Vogue Fashion Fund, in 2008.

In 2015, Kanye West and Kim Kardashian West wore his pieces. Soon, brands such as Beats, H&M and Adidas came lining up to collaborate with him. The 37-year-old also expanded his presence through collaborations with Pepsi, Uniqlo and sunglasses brand Gentle Monster. Lil Yachty and R. Kelly later starred in his spring/summer 2017 campaign.

Wang's first flagship opened in New York's Soho district in 2011, and this was followed by the opening of his flagship store in Tokyo in 2013. He opened his first standalone store in Europe, the 25th Alexander Wang store worldwide, in 2015 in London.

The San Francisco, California-born fashion designer is currently facing sexual misconduct allegations from multiple victims. Graphic designer Owen Mooney alleged in a Dec. 11 TikTok video that in 2017, a known fashion designer groped him at a club. He later claimed in a follow-up TikTok video that the person who allegedly sexually assaulted him was Wang, whom he called a "sexual predator."

Several male and trans models have also come forward and accused him of drugging and sexually harassing or assaulting them, The Daily Beast reported. The Model Alliance has since expressed support for the victims on its social media page.

In 2019, Wang was also called out by rapper Azealia Banks, who posted a screenshot of a direct message on her Instagram accusing the former Balenciaga creative director of assaulting transwomen.

Wang has declined to comment on the allegations, Women's Wear Daily reported.