carolyn rafaelian net worth

The lawsuit cited how the bank cut off its line of credit in late 2018 after a woman was named CEO. In December 2017, Alex and Ani hired then-26-year-old Andrea Ruda, whose role was at the heart of the gender discrimination lawsuit against Bank of America, as its chief financial officer. Carolyn Rafaelian is an entrepreneur as well as a businesswoman with Armenian roots who live in America. The Rhode Island-born and bred founder and CEO is America's richest jeweler thanks to her majority stake. The Rhode Island-born and bred founder and CEO is America's richest jeweler thanks to her majority stake. A Rhode Island native who is the daughter of Armenian immigrants, Rafaelian started bangle brand Alex and Ani in 2004. But it didn’t take off until Rafaelian brought in Giovanni Feroce, a former Rhode Island state senator with a background in eyewear, as CEO in 2010. In 2013, Carolyn Rafaelian, a Rhode Island native, who purchased the property for $3.6million and remains the current owner, spoke to the New York Times, about the ghostly goings on. She was first asked to step down as Alex and Ani’s CEO and then claims she was fired as its designer. REAL TIME NET WORTH. Rafaelian’s net worth has plummeted from an estimated $1 billion in June 2018 to roughly $100 … [+] million today. The company now has about 100 stores in North America, and Forbes estimates Ms. Rafaelian’s net … David Grainger was born on October 12, 1966. CAROLYN RAFAELIAN – NET WORTH: $520 MILLION. Post a comment. Freelance Writer and editor, Self-employed. Her credit line was cut off by her lender. In 2004, Rafaelian created Alex and Ani, a company that sells spiritual bangles. Carolyn Rafaelian’s jewellery company, Alex and Ani, first took off in 2004 when it produced a necklace featuring an apple for Gwyneth Paltrow following the birth of her daughter, Apple. I'm the Careers reporter at Forbes. … Don’t let the number 14 fool you. It wasn't all that long ago that we were singing the praises of self-made billionaire and Alex and Ani founder Carolyn Rafaelian. Every year, Forbes releases a comprehensive list of the wealthiest people in the United States. “I am excited to tell everyone that I’ve started a new company called Metal Alchemist. 8 (same as in 2018), and has an estimated net worth of $2.7 billion, down from $2.8 billion in 2018. She currently has a net worth of $710 million. According to the popular magazine Forbes, her fortune is estimated at 1 billion dollars. A Connecticut native, I studied journalism at Penn State University. Alex and Ani voluntarily withdrew the suit. ... Carolyn was dubbed leader of the jewelry world with an estimated net worth of $700 million, the publication says. The lawsuit was dropped less than a month later. In this article, we explore facts relating to Carolyn Rafaelian’s business interests and net worth and also look at her age, personal life, husband and daughters. In return, she claims, Lion Capital agreed to fund two new businesses up to $1 million a year for two years. Previously, I covered the world’s richest people as a member of the wealth team. In 1994 she joined her father busines… Lawsuits in opposition to her and Alex and Ani have been filed. Contents . Her net worth has plummeted from an estimated $1 billion in June 2018 to roughly $100 million. Her net worth has plummeted from an estimated $1 billion in June 2017 to roughly $100 million. Summary. The company saw a 3,569 percent increase in three years, and boasts $200 million in sales. Alex and Ani founder Carolyn Rafaelian must pay $5 million to London-based investment firm Lion Capital, which owns the majority of her jewelry company, a New York State judge has ruled. Carolyn Rafaelian was born on 1966 in Providence, Rhode Island, United States. Follow me on Twitter @KristinStoller. Lion Capital, the London-based firm that owned 40% of Alex and Ani at the time, stepped in and negotiated with the bank. In 2018, her net worth … Katie Morell. $700 Million One of Britain’s best known and wealthiest sculptors, Kapoor, was born in Mumbai and arrived in this country to study art in the early 1970s. She is number 18 on the Forbes list of America’s Richest Self-Made Women. She is the female who founded a jewellery and accessories agency called “Alex and Ani”. Forbes this week estimated her net worth at $1 billion … Carolyn Rafaelian was ranked 42nd on 2019 Forbes list of America’s Richest Self-Made Women with a net worth of $520 million. The Leukemia & Lymphoma Society BrandVoice, cover of our Richest Self-Made Women issue. Carolyn Rafaelian was born on 1966 in Providence, Rhode Island, United States. “I believe there is no such thing as coincidences: Everything is strategically and divinely coordinated,” she once told Forbes. All in all, it’s been quite the series of unfortunate events, and Rafaelian isn’t one to chalk things up to bad luck. © 2021 Forbes Media LLC. This brought her stake to 41% and upped Lion's to 59%. Alex and Ani’s lender cut off its line of credit; sales tumbled and at least two lawsuits have been filed. Meg Whitman, the CEO of Hewlett Packard, is next on the list. One of her bestsellers was a pair of seamless hoop earrings made from one piece of wire that could hold the weight of beads. Her credit score line was slash off by her lender. The signature bangles have fallen out of fashion with sales declining 60% over the past year. Once America’s richest jeweler, Alex and Ani’s Carolyn Rafaelian has lost $900 million in less than two years—and no longer works for the company she founded. She was in her late 20s when she founded the company named after her two young daughters while working for her father's failing costume jewelry company. However, by early May 2020, she had been fired from that role. For now, a much-diminished Alex and Ani is surviving the pandemic without Carolyn Rafaelian. Alex and Ani officially launched from inside her father’s jewelry factory in Cranston, Rhode Island, in 2004. $100M. Submit a correction suggestion and help us fix it! Kent lasted less than a year. Back then Alex and Ani was pulling in estimated revenues of $500 million. People aren't buying jewelry while working from home. Her signature design was an expandable wire charm bangle, which she patented that same year. She was requested to phase down as CEO. She was in her late Lion Capital is seeking to have that suit dismissed. YEREVAN, JUNE 6, ARMENPRESS. With the net worth of $1 Billion, Carolyn Rafaelian is the # 1187 richest person on earth all the time follow our database. Carolyn Rafaelian among world’s 50 most powerful mothers of 2017 . By last year, it was down to $100 million, Forbes reported. Her credit score line was slash off by her lender. Its lawyer claimed that Alex and Ani had reached a confidential resolution; a Bank of America spokesman told Forbes that the bank made no payment in connection with the lawsuit and that Alex and Ani had voluntarily withdrawn the suit. Over the next three years, Alex and Ani had three CEOs. David Grainger Net Worth. Net worth: US$520 million (2019) Children: 3: Carolyn Rafaelian (born 1966/1967) is an American-Armenian entrepreneur and businesswoman. These Two Women Have Made Insane Fortune Thanks To Jewelry Empires, Ray J Owes $26,000 For Blown Radio Appearance, Gucci Mane Loses $270,000 Lawsuit Over Diamonds. Carolyn Rafaelian Of Alex And Ani: How She Grew Her Company 3,500% In 3 Years. Alex and Ani founder and chief executive officer Carolyn Rafaelian has nabbed her first magazine cover — and it’s for a much ... the executive was ranked 22nd with a net worth of $700 million. Rafaelian's net worth has plummeted from an estimated $1 billion in June 2018 to roughly $100 ... million today. Now Rafaelian, 54, has moved on. A majority of the people he hired left the company when he did. Carolyn Rafaelian also has a net worth of about $1 billion. Kader Khan Life, Biography, Son, Health, Movies. Entrepreneur David Grainger (III) along with wife Janice Stone started The Guild of Automotive Restorers in 1991. The company really took off when Rafaelian hired Giovanni Feroce in 2010. Before joining Forbes, I reported for the Hartford. Jamel Toppin for Forbes. https://www.inc.com/magazine/201304/leigh/the-disciplined-and-the-divine.html In 2018, her net worth was $1 billion. Carolyn Rafaelian is an Armenian American entrepreneur and business professional. Her wealth is estimated to be valued at $2.6billion. . Husband . Carolyn is the number one affluent Armenian woman all over in the world. Product sales have fallen greatly. Carolyn Rafaelian 2017 AMERICA'S SELF-MADE WOMEN NET WORTH — as of 5/17/17 $1 B - Carolyn Rafaelian grew bangle brand Alex and Ani into a billion-dollar company by turning what women wear on their wrists into an affinity statement.The Rhode Island-born and bred founder and CEO is America's richest jeweler thanks to her majority stake. Alex and Ani's CEO is behind the kind of growth most entrepreneurs can only dream of, with $200 million in sales, 1,000 employees and 40 retail locations … in just 3 years. Alex and Ani couldn’t be reached for comment. She was first asked to step down as Alex and Ani’s CEO and then claims she was fired as its designer. Carolyn Rafaelian also has a net worth of about $1 billion. In 2021, Carolyn Rafaelian's net worth was estimated to be $100 Million. Carolyn Rafaelian Net Worth, Age, Husband, Daughters, Wiki. She was asked to step down as CEO. Deals with department stores, including Saks Fifth Avenue, followed, as did licensing agreements with Walt Disney, the National Football League and the Marines. Carolyn Rafaelian Net Worth Carolyn Rafaelian was born on 1966 in Providence, Rhode Island, United States. She was forced to hand over one-third of her stake in Alex and Ani. In 2017, Rafaelian was on the cover of Forbes as America’s richest self-made female entrepreneur. Nowadays, the brand has more than 100 stores in North and South America, as well as their online shop. Carolyn Rafaelian makes a salary of about $4.5 Million Per Year. Also Known as Restoration Garage, now in its fourth season. Today He Is Totally Broke. Former “bangle billionaire” Carolyn Rafaelian has put her Tribeca townhouse on the market. Already fading out of fashion before the lockdowns started, sales tumbled 60% for the 12 months through August, according to data analytics firm Earnest Research. It’s a dramatic reversal of fortune for the entrepreneur who starred on the cover of our Richest Self-Made Women issue in June 2017. Rafaelian fell in love with Joe Triangelo, a real estate contractor, in the year 2010. https://armenianweekly.com/2016/08/24/alex-and-ani-an-armenian-jewel “When it comes to business management and business leadership or corporate leadership, I don’t know of anything that would suggest she has the skill set to run a billion-dollar company.”, I'm the Careers reporter at Forbes. She is the founder and CEO of the incredibly successful jewelry company Alex and Ani, as well as the owner of Belcourt Of Newport and Carolyn's Sakonnet Vineyards. Carolyn Rafaelian, a onetime billionaire, founded bangle brand Alex and Ani in 2004. David Grainger Net Worth David Grainger was born on October 12, 1966. All of this legal wrangling was happening at about the worst time imaginable. A week ago, in front of a roaring fireplace at her Belcourt Mansion in Newport, Rhode Island, Rafaelian announced in an Instagram video that she would no longer be designing for the company she founded. Forbes has included C. Rafaelian in the “Self-Made Richest Women” List. Anish Kapoor Net Worth. No longer in control, Rafaelian stepped down as CEO in September 2019 and became chief creative officer. Jamel Toppin for Forbes Alex and Ani founder Carolyn Rafaelian must pay $5 million to London-based investment firm Lion Capital, which owns the majority of her jewelry company, a New York State judge has ruled. His replacement was Harlan Kent, the former CEO of Yankee Candle. How Much Has Les Wexner's Net Worth Grown From 1990 To Now. She was fired from that role on May 8, she alleges, just as the company was reeling from the pandemic. Carolyn Rafaelian is among America’s richest self-made women. Actors . Alex and Ani claimed that BofA treated it differently because it was led by women. She was compelled to hand more than a person-third of her stake in Alex and Ani. And, of course, the pandemic doesn't help. Sales surged from $5 million when Feroce came on board to $230 million three years later. Helmed by Carolyn Rafaelian, a second-generation jewelry designer, Alex and Ani has been ranked as Rhode Island's second-fastest growing company. She is the founder and CEO of the incredibly successful jewelry company Alex and Ani, as well as the owner of Belcourt Of Newport and Carolyn's Sakonnet Vineyards. #6 Carolyn Rafaelian and Giovanni Feroce, Alex and Ani. She is the founder of the accessories and jewelry company Alex and Ani, and the owner of the Belcourt of Newport and Carolyn's Sakonnet Vineyards. Since that time, the company has floundered amid more executive shakeups, the ousting of Rafaelian from the company, and the pandemic. Rafaelian was forced to give up one third of her stake in the jeweler. 21 out of 60 with a net worth of $1 billion. Jamel Toppin for Forbes. I cover all things related to careers, jobs and the workplace. The Guild has been featured on … © 2021 Celebrity Net Worth / All Rights Reserved. These women are the epitome of ‘can’t stop, won’t stop.’ Details about Carolyn Inez McCormick Bio, Age, Height, Net Worth, & Spouse in 2021 and Full {Name} Carolyn Inez McCormickAge61 September 19, 1959{Height}N/AWeb {Worth}$100,000 – $1MMartial {Status}MarriedThe American TV Actress was born in (Don’t feel too bad — she still owns at least a dozen homes, including spreads in Rhode Island, New York City and Venice Beach, California. Bank of America “helped Carolyn Rafaelian’s business grow from a Rhode Island storefront into a global sensation,” the spot noted. The jeweler, who declined to comment for this story, was vague on the details and Metal Alchemist’s website gives little further information, although it appears to be launching during the holiday season this year. In 2017, Rafaelian was on the cover of Forbes as America’s richest self-made female entrepreneur. Her net worth has plummeted from an estimated $1 billion in June 2018 to roughly $100 million. Here’s a summary of the moguls from the fashion and beauty industries who made it onto the list: The Billionaire Moguls. Rafaelian joins the ranks at #22, with an estimated net worth of $700 million, making her the second richest newcomer to the list, after Gail Miller, billionaire owner of basketball’s Utah Jazz. All net-worth figures are estimated by Forbes, as of June 3, 2019. A master marketer who claimed her jewelry was imbued with energy that could have a positive effect on its wearer (she had a priest and a shaman bless her inventory), Rafaelian built her fortune selling thousands of styles of charm bangles, commemorating everything from birthdays and graduations to zodiac signs, favorite charities and religious totems. Carolyn Rafaelian Net Worth. Alex & Ani founder and CEO Carolyn Rafaelian is at No. In 2018, her net worth was $1 billion. One day in the early 2000s, she realized that same design could make a bracelet. Her father made costume jewelry of all kinds, but was best known for American-flag lapel pins he sold wholesale. Eventually, she amassed a net worth of $1 billion. Rafaelian ranks No. Rafaelian launched Alex and Ani in 2004. “Jewelry, like most discretionary items that are not at-home fitness and athleisure, found itself against a semiexistential question of what’s the motivation to purchase if you can’t find the occasion to wear it?,” says Simeon Siegel, a senior analyst at BMO Capital Markets. The case is still pending. Product sales have fallen greatly. Even without all the shakeup in the executive office, Alex and Ani in all likelihood would find themselves in trouble still. The couple … The company claimed that Bank of America treated it differently because it was female-led, specifically for cutting off the company’s revolving line of credit in December 2018 after a woman was named chief financial officer. Net Worth . She decided to join his father's company, Cinerama, in 1994. $700 Million Carolyn Rafaelian is an American designer, philanthropist, and businesswoman who has an estimated net worth of $700 million. Her net worth is estimated by Forbes to be $2.5billion. Marian Ilitch seizes the top spot on this year’s list. Carolyn Rafaelian grew bangle brand Alex and Ani into a billion-dollar company by turning what women wear on their wrists into an affinity statement. The business grew steadily and opened its first retail store in Newport in 2009. Sales have fallen drastically. Carolyn Rafaelian grew bangle brand Alex and Ani into a billion-dollar company by turning what women wear on their wrists into an affinity statement. (Don’t feel too bad—she still owns at least a dozen homes, including spreads in … … The Rhode Island based company is on a roll -- and rumored to be pointed to an IPO in 2014. She's also a billionaire. She was compelled to hand more than a person-third of her stake in Alex and Ani. It’s been a terrible, horrible, really bad couple of years for Rafaelian and her celestial jewelry brand. Carolyn Rafaelian founded fashion jewelry company Alex and Ani in 2004, taking over what had been her father’s Rhode Island jewelry factory to manufacture the new age, celestial-chic bangles that have become the brand’s staple. Carolyn Rafaelian was born on 1966 in Providence, Rhode Island, United States. Three years later, sales were $230 million. Former “bangle billionaire” Carolyn Rafaelian has put her Tribeca townhouse on the market. Anish Kapoor Net Worth. The company is named after her two daughters, and its bangles are made in the same factory where Rafaelian’s father manufactured American flag pins and costume jewelry. Now, Rafaelian is worth $100 million … Her fortune comes largely from her majority stake in spiritual bangle brand Alex and Ani, which she founded in 2004. In 2004, Rafaelian created Alex and Ani, a company that sells spiritual bangles. Rafaelian was forced to give up one third of her stake in the jeweler. Carolyn Rafaelian Net Worth, Age, Husband, Daughters, Wiki. Alex and Ani founder Carolyn Rafaelian must pay $5 million to London-based investment firm Lion Capital, which owns the majority of her jewelry company, a New York State judge has ruled. Carolyn Rafaelian is an Armenian American entrepreneur and business professional. Metal Alchemist is where I plan on continuing all the love and the efforts and designs that support things that are truly important to me, such as the Armenia Fund,” said Rafaelian, whose grandparents were Armenian immigrants. This led to Rafaelian giving up 20% of the company. Rafaelian famously lost $900 million in less than two years and no longer works for Alex and Ani, the jewelry company she founded in 2004, according to Forbes. Jamel Toppin for Forbes Alex and Ani founder Carolyn Rafaelian must pay $5 million to London-based investment firm Lion Capital, which owns the majority of her jewelry company, a New York State judge has ruled. Nowadays, the brand has more than 100 stores in North and South America, as well as their online shop. The inside tale of hypergrowth, executive turnover, legal turmoil and the whims of fashion at America’s charm bracelet foundry. She's also a billionaire. Rafaelian, who had invested in Ice Cube’s 3-on-3 basketball league, made up primarily of former NBA players, was ready to commit $1 billion of cash and debt, essentially gambling all of her then-estimated $1 billion net worth. Rafaelian founded jewelry company Alex and Ani–named after two of her daughters–in 2004. Then Rafaelian fired Feroce in 2014. Rafaelian stepped down as CEO in the fall of 2019 and was named chief creative officer. It opened its first retail store in Rhode Island in 2009. How This Girl Went From $80K In Debt At 24, To Millionaire At 26, Nasty Gal Went From $85 Million To Bankrupt. Her story is the perfect example of the American dream. Entrepreneur David Grainger (III) along with wife Janice Stone started The Guild of Automotive Restorers in 1991. The net worth is relatable to the fact that she owns 80 percent Alex and Ani. She is 50 years old and she is the daughter jewelry factory owner. Fast forward to 2018, and Rafaelian was sitting with an estimated net worth of $1 billion. Covid hit Alex and Ani hard. She went straight to the factory to try it. Rafaelian’s net worth has plummeted from an estimated $1 billion in June 2018 to roughly $100 … [+] million today. Post a comment . The Rhode Island-born and bred founder and CEO is America's richest jeweler thanks to her majority stake. Post a comment. The six-story mansion at 156 Reade St. is asking $15 million — down from its $16.5 million ask last November. Hustler is a noun normally associated with being a male, but these women have embodied what it means to hustle. 1 Background; 2 Business career; 3 Personal life; 4 References; Background . The Rhode Island-born and bred founder and CEO is America's richest jeweler thanks to her majority stake. Carolyn Rafaelian net worth: Carolyn Rafaelian is an American entrepreneur and businesswoman who has a net worth of $100 million. Rafaelian is an active real estate investor and most of her properties are in her native Rhode Island, according to Forbes.com. Detailed information regarding The Rise And Fall Of Alex & Ani Founder And Former Billionaire Carolyn Rafaelian in 2021 andIt wasn't all that way back that we have been singing the praises of self-made billionaire and Alex and Ani founder Carolyn Rafaelian. A former executive describes Feroce and Rafaelian as “oil and water in a healthy way.” But despite what seemed like a winning partnership, Feroce says he was pushed out in 2014, though he won’t say why, and that many of his hires left the company shortly thereafter. 18 (with a net worth of $1 billion), while Kendra Scott, who started her eponymous brand in … Throughout the last couple of years, Carolyn Rafaelian has lost her company and $900 million. Just two years ago, Alex and Ani founder Carolyn Rafaelian was sitting in her airy, nautical-themed Venice Beach home, hobnobbing with one of hip-hop’s greatest artists. Carolyn Rafaelian Net Worth. Rafaelian’s troubles first became public in July 2019, when Alex and Ani, named after her two oldest daughters, filed a gender discrimination suit against one of its lenders, Bank of America, seeking $1.1 billion in damages. That's when deals with department stores and licensing agreements with Disney, the NFL, and other prominent brands brought new attention to Alex and Ani. Her net worth has plummeted from an estimated $1 billion in June 2017 to roughly $100 million. Almost immediately after the suit was dropped, London-based investment company Lion Capital—which then owned 40% of Alex and Ani—stepped in and negotiated with the bank, which alleged that Alex and Ani was in default on a $100 million line of credit. Read more. All Rights Reserved, This is a BETA experience. Rafaelian famously lost $900 million in less than two years and no longer works for Alex and Ani, the jewelry company she founded in 2004, according to Forbes. Once again, the list includes two women well-known in the jewelry world: Carolyn Rafaelian, whose Alex and Ani bangle bracelets are carried by fine jewelers nationwide, and Kendra Scott, who started her eponymous costume jewelry company with $500 in her spare bedroom. Her story is the perfect example of the American dream. His replacement, Cindy DiPietrantonio, was out after a year. “When you look at Alex and Ani now, it’s just a white label of any other jewelry company out there. Actors . The minimum net worth needed to make this year’s list is $260 million, up from $250 million in 2016. Carolyn Rafaelian Net Worth. “Anything, from the Super Bowl commercial . Each is sold with explanations of their meanings. $700 Million Carolyn Rafaelian is an American designer, philanthropist, and businesswoman who has an estimated net worth of $700 million. to Main Street locations, to a large majority of hiring, or personnel, everything, all of those moves, every single one of those moves, were my moves,” Feroce says. You can take one of their images and you can just add, ‘Steve’s Jewelry Company’ to the bottom of it because it’s so generic and has no meaning.”. Meanwhile, it also negotiated a $50 million rotating line of credit. Now, Rafaelian is worth $100 million after a number of very bad years for her jewelry brand. It also alleged in the suit that its valuation dropped by hundreds of millions of dollars, and that morale and employee productivity were hurt. Less than a month later, Alex and Ani dropped the lawsuit. It is one of roughly 30 patents the company has and the one she has to defend in court the most often. Detailed information regarding The Rise And Fall Of Alex & Ani Founder And Former Billionaire Carolyn Rafaelian in 2021 andIt wasn't all that way back that we have been singing the praises of self-made billionaire and Alex and Ani founder Carolyn Rafaelian. In 2004, Rafaelian patented the Alex and Ani 14-gauge expandable wire bangle. It was a spin on a business Rafaelian grew up in. Rafaelian’s net worth has plummeted from an estimated $1 billion in June 2018 to roughly $100 … [+] million today. It is one of roughly 30 patents the company has and the one she has to defend in court the most often. Carolyn Rafaelian is an American designer, philanthropist, and businesswoman who has an estimated net worth of $700 million. Lawsuits in opposition to her and Alex and Ani have been filed. Alex and Ani grew over the years. Rafaelian ranks No. Now, Rafaelian is truly worth $100 million after a variety of very terrible many years for her jewellery brand name. In 2016, there were 60 women on the Forbes 400, 14 being women of color. She was fired as the designer for her own company. ... Rafaelian joins the ranks at number 22 with an estimated net worth of $700 … Learn more about Carolyn Rafaelian and get the latest Carolyn Rafaelian articles and information. When Feroce joined Alex and Ani, sales were $5 million. Carolyn Rafaelian Net Worth. Rafaelian has started a new company called Metal Alchemist. BofA claimed Rafaelian's company was in default on a $100 million line of credit. (Don’t feel too bad—she still owns at least a dozen homes, including spreads in Rhode Island, New York City and Venice Beach, California). She's also a billionaire. Carolyn Rafaelian acquired her talent in designing jewelries when she helped her father's jewelry manufacturing company. Read more. Eventually, she amassed a net worth of $1 billion. . In June, Rafaelian filed suit against Lion Capital claiming it never followed through on that promise. 21 out of 60 with a net worth of $1 billion. Carolyn Rafaelian was born on 1966 in Providence, Rhode Island, United States. Presently, the net worth is estimated to be $1.2 billion. Carolyn Rafaelian grew bangle brand Alex and Ani into a billion-dollar company by turning what women wear on their wrists into an affinity statement. Carolyn Rafaelian Net Worth Detail Rafaelian was listed 22nd in Forbes America's Richest Self-Made Women in 2016, with net worth estimated at $700 million in June 2016. Rafaelian’s net worth has plummeted from an estimated $1 billion in June 2018 to roughly $100 … [+] million today. The trouble really hit a fever pitch during the summer of 2019, when Alex and Ani filed a gender discrimination lawsuit for $1.1 billion against Bank of America. The company claimed sales declined by $80 million because it couldn't afford to pay vendors, which caused delays in product launches. That unlikely deal never happened—the pair was outbid by Sinclair Broadcast Group—but Carolyn Rafaelian could be forgiven for wishing that her money was tied up in televising local sports rather than in Alex and Ani, the Rhode Island-based charm bracelet maker she founded in 2004. The company now has about 100 stores in North America, and Forbes estimates Ms. Rafaelian’s net worth at roughly $1 billion. as of 4/11/21. She got her early education from Prout Memorial High School for Girls and for higher education she attended The University of Rhode Island between 1987 to 1989 then she transferred to The American College in Los Angeles and graduated from there. Rafaelian’s net worth was estimated at $700 million in June 2016. Previously, I covered the world’s richest people as a member of the wealth team. CAROLYN RAFAELIAN – NET WORTH: $520 MILLION. “I live in Rhode Island, and you don't even hear about Alex and Ani anymore,” says Dana DiPaolo, who worked at the company as the Innovation Lab director from 2011 to 2014 and credits Rafaelian with giving the bangles an edge.

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