Italian designer Giorgio Armani has died: his fortune was estimated at 10 billion.

According to The Sun: Italian billionaire and legendary designer Giorgio Armani has died at the age of 91.

Armani is considered a true fashion icon, having left a huge legacy in the industry.

His company initially specialized in fashion but later expanded into beauty, fragrance, music, sports, and luxury hotels.

Armani earned over £2 billion a year, becoming known for his exquisite designs and sharp business sense.

Fellow designer Donatella Versace stated: “Today the world has lost a giant. He has left behind a legacy and will be remembered forever.”

Who was Giorgio Armani?

Giorgio Armani began his design career working for the fashion house Cerruti in 1881.

In 1975, he founded his own company 'Armani', which later became a cult luxury fashion brand.

The designer created clothing for the biggest celebrities on the red carpet, including Cate Blanchett, Lady Gaga, and Zendaya.

Before his death, Armani had some health issues, but his fashion house confirmed that he 'worked until his last days.'

Armani was planning a major event to celebrate the 50th anniversary of his brand during Milan Fashion Week this month.

In June, he had to withdraw from participating in the men's fashion shows in Milan, missing one of the events for the first time in his career.

What was Giorgio Armani's fortune?

Giorgio Armani's fortune was estimated at £8.1 billion as of June 20, according to the Bloomberg Billionaires Index.

However, according to Forbes, his fortune was closer to £10.5 billion.

If confirmed, Armani would become the third richest Italian after Giovanni Ferrero and Andrea Pignataro.

His assets included luxury hotels, the basketball team 'Olimpia Milano', a 200-foot yacht, and nearly 100% ownership of his own company Armani.

Who will inherit the Armani company?

Armani was unmarried and had no children who could inherit his multibillion-dollar company.

The ownership of Giorgio Armani will be managed by the Giorgio Armani Foundation.

Armani's relatives, his sister Rosanna, nephew Andrea Camerana, and nieces Silvana and Roberta are likely to remain in their roles.

His long-time creative partner Pantaleo 'Leo' Dell'Orco is also likely to remain in his position.

In an interview before his death, Armani said: “My plans for inheritance involve gradually passing responsibility to those closest to me... such as Leo Dell'Orco, my family members, and the entire team.'

The death of Giorgio Armani has been a great loss for global fashion. His direct influence on the industry will be felt for many years to come, and new generations of designers will continue to draw inspiration from his creativity.

In honoring his memory, fashion names and celebrities from around the world celebrate his contributions to the development of fashion, culture, and style. Armani has left an indelible mark in history that will never fade.