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Forbes List Includes Spanx Inventor, Youngest Female Self-Made Billionaire

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LZ Start-Your-Business Month SweepstakesHere at LegalZoom, we’re celebrating National Start-Your-Business Month — be sure to check out the Start-Your-Business Month Sweepstakes on Facebook!

We know you’re a motivated bunch, so you probably don’t need any other inspiration to get moving, but just in case: check out the story of 41-year-old Sara Blakely, the inventor of Spanx, who has cracked the Forbes magazine billionaires list at #416 in the US, making her the youngest female self-made billionaire in the world (self-made in that she didn’t marry into or inherit her fortune).

Spanx, in case you haven’t heard, are those “slimming intimates, comfortable body shapers, shaping hosiery & tights” that even Oprah Winfrey has raved about.

Forbes reports that more than a decade ago, Blakely invested her $5,000 life savings into coming up with something to wear under white pants that would be flattering to a woman’s, ahem, assets. According to Blakely’s profile at Forbes:

Blakely has taken Spanx from a one-product wonder sold out of her Atlanta apartment to a billion-dollar powerhouse with just under $250 million in annual revenues and net profit margins estimated at 20%. She owns 100% of the private company, has never advertised and never taken outside investment.

Indeed, Blakely told CBS This Morning that she hopes that her success shows that women can make a difference in the world “one butt at a time.”

H/t Los Angeles Times.

Do you have any inspiring entrepreneurial stories to share? Let us know!

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March 9th, 2012 at 12:36 pm

Posted in Small Business

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