Les Wexner Biography
A native of Dayton, Ohio, Les Wexner is an American billionaire and businessman, who is the chairman and CEO of the L Brands (formerly Limited Brands) corporation.
Wexner has also been a philanthropist to diverse charities and a significant donor to political campaigns.
On February 10, 2012, The Ohio State University board of trustees voted to rename The Ohio State University Medical Center in honor of Wexner.
This was in recognition of his leadership and service to the university and the medical center. The medical center is known as Wexner Medical Center at Ohio State University.
Wexner attended Ohio State University, majoring in business administration. He later became a member of Sigma Alpha Mu fraternity. He also briefly attended the Moritz College of Law.
Les Wexner Age
Wexner was born on September 8, 1937, in Dayton, Ohio, U.S. He is 83 years old as of 2020.
Les Wexner Family
Wexner was born to a Jewish family. His parents are Bella and Harry Wexner. He has one sister named Susan.
Les Wexner Wife
Wexner is a married to Abigail S. Koppel, who is an attorney. Wexner and Abigail got married on January 23, 1993, at their home in New Albany, Ohio.
During the time of their marriage, he was 55 years old and she was 31 years old. The couple has four children: Harry, Hannah, David, and Sarah.
Les Wexner L Brands
Wexner started out working in his parents’ clothing store. While his parents were away on vacation he analyzed the profit and loss margins on the women’s clothing they sold.
He found that although higher-priced clothing (e.g. jackets) cost more money, they sold less frequently than blouses, which sold at a faster rate. He told his father but his father was not interested in changing his inventory.
In 1963, Wexner was lent $5,000 from his aunt to start The Limited. It was named The Limited because the store focused on a limited amount of merchandise that turned over quickly and had a higher profit margin, unlike his parents’ store.
The Limited opened its first store in the Kingsdale Shopping Center in Upper Arlington, Ohio, a suburb of Columbus. His parent’s closed their store one year later and joined their son at The Limited.
In 1969, Wexner took Limited Brands public in 1969, listed as LTD on the NYSE. Wexner is the longest-serving CEO of a Fortune 500 company. He was ranked number 11 on Harvard Business Review’s Top 100 Best Performing CEOs of 2015, and number 34 in 2016.
Wexner has over the years built a retailing and marketing conglomerate, which currently includes: Victoria’s Secret, Pink (Victoria’s Secret), Bath & Body Works. It also includes Henri Bendel, The White Barn Candle Company, and La Senza.
Les Wexner Victoria’s Secret
Victoria’s Secrest was started by an MBA project by Stanford graduate Roy Raymond. Later in 1982, Wexner acquired the business which attracted his interest due to the unique, high quality merchandise and Victorian-era decor of the shop which featured red-velvet sofas.
Wexner bought the company for $1 million and by the 1990s it was worth an estimated $1 billion. It became widely known for marketing its items with the use of super models known as “angels” which were featured in an annual fashion show, overseen by Ed Razek.
Les Wexner Jeffrey Epstein
Wexner came under suspicion in April 2019, as a friend of accused child sex trafficker and billionaire Jeffrey Epstein. This was shortly before Epstein was arrested in July 2019 on sex trafficking charges.
According to The Daily Beast, one of the accusers of Epstein claimed to have been assaulted in the home of Wexner.
The woman came forward in April to accuse Epstein and his alleged madam of sexually assaulting her at Wexner’s Ohio mansion in the 1990s.
Les Wexner Politics
In 2012, Wexner r hosted a fundraiser for Mitt Romney. He donated $250,000 to Restore Our Future, Romney’s Super PAC.
Later in 2015, he donated $500,000 to the Right to Rise USA Super-Pac that supported the 2016 presidential campaign of Jeb Bush.
On September 14, 2018, The Columbus Dispatch reported that Wexner had renounced his affiliation with the Republican Party due to changes in its nature.
Wexner made his comment shortly after former President Obama gave a speech on the same Columbus Partnership panel Wexner would address.
Les Wexner House
Below is Wexner’s house. It is a 45,000 square foot home with 30 rooms which is situated on 336 acres in New Albany, Ohio. It was built in 1990.
Les Wexner Net Worth
As of 2021, Wexner has a net worth of 6.8 billion USD according to Forbes.