New owner of $141M Bel Air mega-mansion identified as Richard Saghian, owner of Fashion Nova (2024)

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New owner of $141M Bel Air mega-mansion identified as Richard Saghian, owner of Fashion Nova? ›

The property known as "The One" had originally listed at $295 million, but recently sold at auction for close to $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.

Less than a year prior, Saghian bid $126 million at auction for a Los Angeles megamansion. Nicknamed "The One," the 105,000-square-foot property is considered the biggest modern home in the US. Taking into account the auction premium and commission fees, he ended up paying closer to $141 million for the home.

Fashion Nova founder and CEO Richard Saghian bought The One Bel Air, a 105,000-square-foot megamansion in Los Angeles, in 2022 for $126 million. With fees and commission, his total price came out to about $141 million.

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.

Biography. Richard Saghian is the chief executive of privately-owned Fashion Nova, a fast-fashion company and a social media phenomenon that has achieved rapid growth through its work with influencers and its speed at delivering trend-led pieces.

Richard Saghian is the founder and CEO of fast fashion company Fashion Nova, which generates some $2 billion in annual sales.

How much does a Model make at Fashion Nova in the United States? Average Fashion Nova Model monthly pay in the United States is approximately $15,718, which is 326% above the national average.

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Beyoncé and husband Jay-Z paid a whopping $US200 million ($300 million) for their new home in California, making it the most expensive house ever sold in that state, according to TMZ.

Bel Air mansion: Fashion Nova CEO Richard Saghian revealed as 'The One' new owner | Fortune.

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The CEO of privately-owned retailer Fashion Nova is a familiar name to fashion lovers everywhere. His brand is known as a fast fashion company that leverages social media buzz and has achieved a massive success through its work with influencers as well as its speed at delivering the latest trend pieces to consumers.

1/ Richard Saghian was born in 1982. His family was a minority group of Jewish-Iranians who fled during the revolution. After moving to America, they got into women's fashion retail.

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