When it comes to net worth, Peter Nygard is one of the richest men in the fashion industry. Nygard International, a Canadian garment manufacturer, is where he made his money as the founder and chairman. The Canadian Business Magazine estimated in 2009 that his net worth was $750,000,000. At the time, he was the 70th-wealthiest person on the planet. Nygard’s net worth is now estimated at $900 million.
Early Years
Helsinki, Finland, was the place of Peter Nygard‘s birth. Nobody knows exactly when he was born. It was either 1941 or 1943, depending on your perspective. Eeli and Hikka were bakers who moved to Canada in 1952 when Peter was a baby. They finally made their way to Winnipeg, Manitoba, where they now reside. It was in 1964 that Nygard earned a business degree from the University of North Dakota, where he had previously studied.
Jacobs Fashions hired him as the sales manager of their new women’s denim line when he first graduated from college. Peter bought a 20 percent ownership in the company from its founder Nathan Jacob in 1967 with a loan and his life savings of approximately $8,000. A few years later, Peter purchased Nathan’s entire business and changed its name to Tan Jay.
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Peter Nygard’s Net Worth
| Net Worth: | $900 Million |
| Date of Birth: | 1943 |
| Gender: | Male |
| Profession: | Fashion designer |
| Nationality: | Canada |
Success
In 1967, he established his own clothing manufacturing company, which he named “Nygard”. The company began by making sportswear. Expanded in the United States in 1978
With a corporate headquarters in Manhattan’s Times Square, “Nygard International,” the corporation has grown significantly in recent years. When it comes to women’s apparel, the brand has become a major player in the global market. Every year, the corporation makes more than $500 million. Nygard International employs 12,000 people worldwide and maintains 200 retail shops in North America. More than a dozen retail outlets carry its items.
A breast cancer advocate, Peter has given generously to the Canadian Breast Cancer Foundation. In addition, he has helped the Bahamas Amateur Boxing Federation squad achieve Olympic success by supporting them. As many as eight different women have given birth to his offspring. Peter has at least two private jets, both Boeing 727s that bear his name across the entire body.
Peter Nygard Net Worth Growth
| Net Worth in 2022 | $900 Million |
| Net Worth in 2021 | $860 Million |
| Net Worth in 2020 | $800 Million |
| Net Worth in 2019 | $770 Million |
| Net Worth in 2018 | $700 Million |
Controversy
A civil class action lawsuit was launched by ten women against Peter in February 2020, accusing the billionaire of rapes that allegedly took place at his seaside Bahamian estate. According to reports, he was running an illegal sex trafficking operation that targeted girls as young as 16 years old (the legal age of consent in the Bahamas). His Bahamian neighbor, hedge fund millionaire Louis Bacon, with whom Nygard has been embroiled in a decades-long dispute, he claims, paid for and directed the smear campaign that led to the accusations.
He would fly in with women from all around the world for extravagant parties. His entourage of “paid girlfriends,” according to an inquiry by the New York Times, consists of at least three women. One of Nygard’s staff members had a list of more than 700 women who could be called upon at a moment’s notice, according to the probe. It’s also reported that Peter uses the term “toilet” when referring to women’s bottoms and was once heard stating, “Do you see those toilets?” while staring at a group of ladies.
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Nygard Cay
When Nygard originally bought his “Nygard Cay” in the Bahamas in 1987, he was already a multi-millionaire. A 32,000 square-foot grand hall with a 100,000-pound glass ceiling was created over the next ten years by the hedonistic resort’s owner.
When the property caught fire in 2009, some of it was destroyed. He later claimed that Bacon, his next-door neighbor, was responsible for the blaze. His $50 million renovation plan would take two years to complete, he claimed months after the incident. The Bahamian Prime Minister’s Office rejected the plans.
Bacon and Nygard have been feuding for over a decade because of the fire and the stalled reconstruction plans. Legal battles between the two sides have cost millions of dollars and involved more than 25 lawsuits brought against each other in several countries.
From Michael Jackson to Oprah to Prince Andrew to Robert DeNiro, this resort has been frequented by some of Hollywood’s most famous faces over the years. Jessica Alba apparently found a party at Nygard Cay in 2004 while filming “Into the Blue” “gross,” according to rumors. “These girls are like 14, tearing off their clothes in the Jacuzzi,” Alba recounted on a subsequent press trip when she was 23 years old.
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