Fast-fashion CEO, 40, revealed as winning bidder of $141 million Bel Air mega-mansion ‘The One’ (2024)

FAQs

Did Fashion Nova CEO Richard Saghian buys the one megamansion for $141 million? ›

Richard Saghian, owner and chief executive of Fashion Nova, won the bidding war for the 105,000 square-foot home, according to The Los Angeles Times. The actual bid was $126 million but came out to $141 million with auction costs and commissions.

Earlier this year, Richard Saghian, owner of the fast-fashion business Fashion Nova, bought the Los Angeles mansion known as “The One” for $141 million. The One was one of the biggest U.S. homes to ever go up for auction.

Richard Saghian, owner of the fast-fashion business Fashion Nova, has emerged as the winning bidder of the Los Angeles mansion known as “The One.” The 21-bedroom, 49-bath Bel Air estate sold Thursday for $141 million to an undisclosed bidder, whose identity was confirmed to be Saghian Sunday.

Cardi B specifically has said she's received as much as $20,000 monthly to wear Fashion Nova.

The estimated total pay for a Brand Ambassador at Fashion Nova is $3,706 per month.

That distinction goes to a 2021 mansion sale by Lewis A. Sanders, founder and chief executive of investment firm Sanders Capital, for $72.5 million. The buyer was Patrick Dovigi, a retired Canadian professional hockey player.

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Saghian's fashion brand has parlayed partnerships with prominent rap stars into widespread success. Richard Saghian, owner of fast-fashion juggernaut Fashion Nova, was the winning bidder who spent $141 million to buy “The One” mega-mansion, he confirmed to The Times.

Is the 75 million dollar house still on the market? ›

The seven-bedroom, 10-bathroom, prime-Beverly Hills-location home is the brainchild of developer Adnan Sen, who has also become a reality presence in his own right. The house, which is still available and listed on The Oppenheim Group website, has become an internet sensation. “I totally embrace it.

The Biltmore Estate is the largest privately owned home in the United States. Built near Asheville, North Carolina, it is still owned by the descendants of one of America's richest families, the Vanderbilts. It is a tourist attraction and a reminder of the so-called Gilded Age of the late 19th century.

There's an old saying, “the bigger they are, the harder they fall.” That's certainly true of Nile Niami's gargantuan mega-mansion, “The One,” which has gone into receivership after accumulating millions of dollars in loans and debts.

The buyer of the Bel-Air mega mansion dubbed 'The One' has been revealed to be none other than Fashion Nova CEO Richard Saghian days after the estate sold well below its asking price at auction.

The mansion known as The One is L.A.'s largest residence, with 21 bedrooms and 42 full bathrooms. The $141-million offer by Fashion Nova founder Richard Saghian for the Bel-Air mega-mansion known as “The One” was approved Monday by a U.S. Bankruptcy Court judge.

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The average Fashion Nova salary ranges from approximately $32,000 per year for Quality Coordinator to $143,000 per year for Senior Systems Administrator. Average Fashion Nova hourly pay ranges from approximately $10.00 per hour for Office Clerk to $36.88 per hour for Administrative Assistant.

Long before “Bodak Yellow,” Cardi B was repping the retail brand on her Instagram page—along with other major celeb influencers like Kylie Jenner, Khloe Kardashian (pre-Good American), Amber Rose, Nicki Minaj, Dasha Polanco, LaLa Anthony, and loads more. So what is Fashion Nova?

Hourly: If the brand ambassador is being paid hourly, the average is between about $10-16 an hour. Commission: In some cases, companies will pay ambassadors on commission rather than an hourly rate, so as to incentivize the distribution of promotional materials and the generation of leads by their brand ambassadors.

No, brand ambassadors typically do not have to pay.

However, brand ambassadors who visit brick-and-mortar stores are less likely to purchase their own products to market.

Do brand ambassadors get paid monthly? ›

As of Feb 8, 2023, the average monthly pay for an International Brand Ambassador in the United States is $4,510 a month.

This year the most expensive house to ever sell in the state of Colorado went for $72,500,000, in Aspen. The multimillion dollar home has 11 bedrooms and 17 bathrooms and includes amenities like a huge double sided fire place, a sound proof home theater, and a glass encased commercial-grade elevator.

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The $295 million mega-mansion, dubbed "The One," was built by ex-movie producer Nile Niami as the nation's largest and most expensive private residence.

Here's everything you need to know about the mammoth mansion… Davina Potratz made a bold move when she took on a $75million mansion at The Oppenheim Group. The jaw-dropping property is every inch a Beverly Hills dream with 18,000 square feet of space, nine spectacular bedrooms and 12 bathrooms.

In the first season of the highly popular reality series, the jaw-dropping mansion on Hillside Avenue in Los Angeles was the team's most coveted listing, with each broker eyeing the $1.2 million commission that'd result from its sale.

Oppenheim declined to comment on the seller, but records reveal that the home is owned by Tom Bilyeu, co-founder of the food company Quest Nutrition.

1. Bill Gates' $125million house. After seven years in the making, Bill Gates' mega-mansion 'Xanadu 2.0', takes the top spot at a whopping $125 million!

The 21-bedroom, 49-bath hilltop estate — dubbed “The One” — had a list price of $295 million. Developer Nile Niami said in 2015 that he would ask $500 million for the Bel Air property, which also has five swimming pools and a 30-car garage.

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The posh neighborhood of Hidden Hills in California is home to many stars, one of them being Will and Jada's son, Jaden Smith. The Smiths bought this $3.4 million five-bedroom, six-bathroom mansion in 2003, and has been occupied by Jaden since 2017.

How much did Richard Saghian pay for the one? ›

The One sold for $141 million at auction. It was recently revealed the buyer is fast fashion brand Fashion Nova CEO Richard Saghian, who paid $126 million for the property plus an auction premium of $15 million.

Joseph Englanoff bought the plot of land in 2014 for just $5 million, with the dream to turn it into the ultimate entertainer's home. And that he did. So if you've got a spare $141 million, check this place out on The Agency because you won't find anything else like it.

2.1 billion USD (2023)

Richard Saghian / Net worth

The mansion known as The One is L.A.'s largest residence, with 21 bedrooms and 42 full bathrooms. The $141-million offer by Fashion Nova founder Richard Saghian for the Bel-Air mega-mansion known as “The One” was approved Monday by a U.S. Bankruptcy Court judge.

The One cost Saghian far more than his other homes, but his winning bid was less than half the property's $295-million list price. “It's an incredible deal,” said Branden Williams, who listed the home with his partner, Rayni Williams, and Aaron Kirman of Compass. “No one understands until they get up there.

The $295 million mega-mansion, dubbed "The One," was built by ex-movie producer Nile Niami as the nation's largest and most expensive private residence.

Indeed, by Forbes' calculations, the fast fashion mogul is worth an estimated $1.4 billion. His fortune stems from his 100% ownership of the company, which does over $1 billion in annual sales, according to a person familiar with the matter.

The buyer of the Bel-Air mega mansion dubbed 'The One' has been revealed to be none other than Fashion Nova CEO Richard Saghian days after the estate sold well below its asking price at auction.

Richard Saghian is the founder and CEO of fast fashion company Fashion Nova, which has over $1 billion in annual sales. The son of Iranian immigrants, he started the company in 2006 after dropping out of college.

Who is the richest fashion? ›

Fashion Nova will Pay $4.2 Million as part of Settlement of FTC Allegations it Blocked Negative Reviews of Products. Consumer Protection. Bureau of Consumer Protection.

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The company also illegally leveraged gift cards to compensate shoppers for unshipped goods instead of providing them with cash refunds. Ultimately, Fashion Nova paid out a total of $9.3 million to settle the issue.