8. Michael Kors
Kors went bankrupt in 1993. Yes we thought we should tell you that first in case you are wondering how these designers sell their stuff and become rich. There are a lot of ups and downs which sadly, many of us do not acknowledge. Michael Kors began selling dresses at the age of ten and got enrolled in fashion school at 18. However he thought that the school might be holding him back so he dropped out and began his small store opposite Bergdorf Goodman 57th Street until the fashion director of the big name’s eyes rested on his work. Despite bankruptcy he bounced back and is now one of the few successful billionaire designers in the world with his net worth standing at $1 billion.