A single $5,000 loan from an aunt in 1963 grew into a retail empire that shaped what millions of Americans wore and how they shopped. Les Wexner built The Limited into L Brands, acquiring Victoria’s Secret along the way and turning it into a cultural juggernaut, but by the time he stepped down in 2020, his legacy carried the weight of a brand in decline and a friendship that would become a scandal.
Net worth (2025): $8.8 billion ·
＜strong>Age: 87 (born September 8, 1937) ·
Founded: L Brands in 1963 ·
Spouse: Abigail Wexner
Quick snapshot
- Full name: Leslie Herbert Wexner (Wikipedia (user-contributed encyclopedia))
- Founded The Limited in 1963 with a $5,000 loan (The Guardian (UK news outlet))
- Acquired Victoria’s Secret for $1 million in 1982 (The New York Times (major U.S. newspaper))
- Stepped down as CEO in February 2020 (TIME (U.S. news magazine))
- Exact net worth varies by source; Bloomberg does not disclose a current figure (Bloomberg (financial data provider))
- Depth of Wexner’s knowledge of Jeffrey Epstein’s activities remains unverified (same TIME source) (Bloomberg (financial data provider))
- Future role at Bath & Body Works beyond chair emeritus is not formalized (Bloomberg (financial data provider))
- 1963: Found L Brands (The Limited) (same NYT source)
- 1982: Acquires Victoria’s Secret (same Guardian source)
- 2020: Steps down as CEO amid Epstein scandal (same NYT source)
- 2021: Victoria’s Secret spun off (same NYT source)
- Serves as chair emeritus of Bath & Body Works (same TIME source) (NBC4I (Columbus NBC affiliate))
- Continues philanthropic work at Ohio State University (NBC4I (Columbus NBC affiliate))
- Remains active in Republican political donations (same Wikipedia source) (NBC4I (Columbus NBC affiliate))
Seven key facts about Wexner, from birth to present wealth and roles:
| Attribute | Value |
|---|---|
| Full name | Leslie Herbert Wexner |
| Born | September 8, 1937 in Dayton, Ohio |
| Net worth (2025) | $8.8 billion |
| Spouse | Abigail Wexner (m. 1993) |
| Children | 4 |
| Alma mater | Ohio State University |
| Notable roles | Founder, L Brands; Chair Emeritus, Bath & Body Works |
How does Les Wexner make his money?
Wexner built his fortune by creating and scaling specialty retail chains that dominated American malls for decades. The Limited, founded in 1963 with a loan of $5,000 from his aunt, became the engine. From there, L Brands Inc. grew into a holding company for some of the most recognizable names in retail: Victoria’s Secret, Bath & Body Works, and multiple apparel brands.
What is Les Wexner’s net worth?
Forbes and Bloomberg track Wexner’s wealth closely. In 2025, Forbes estimated his net worth at $8.8 billion. A separate 2025 Ohio wealth ranking from Yahoo Finance placed Wexner and his family at No. 137 with a slightly higher figure of $9.3 billion (Yahoo Finance (financial news platform)). The Bloomberg Billionaires Index profile for Wexner is active but did not disclose a numeric wealth figure in its public summary.
The variation stems from how each publication values his remaining stakes in Bath & Body Works and personal investments. What’s clear: he remains one of the wealthiest individuals in Ohio.
What companies does Les Wexner own?
Wexner no longer owns Victoria’s Secret directly. In 2021, the lingerie brand was spun off into a separate publicly traded company. He retains the title of chair emeritus at Bath & Body Works, which remains part of what was L Brands. He also holds personal investments, but his primary wealth vehicle remains his stake in the companies he founded or acquired through L Brands.
Is Les Wexner the richest man in Ohio?
No. According to Forbes’ 2025 ranking, Wexner is no longer the richest person in Ohio. A 2026 report from NBC4I confirmed that he had fallen from that top spot.
The implication: his net worth remains substantial but has declined from its peak, reflecting the diminished value of his former retail empire.
What is Les Wexner’s real name?
His full legal name is Leslie Herbert Wexner. Born in Dayton, Ohio to a retail family — his father owned a women’s clothing store — Wexner attended Ohio State University, earning a Bachelor’s degree in business before launching his career.
What is Les Wexner’s political affiliation?
Wexner is a registered Republican and has been an active political donor for decades. He has contributed to both national Republican campaigns and local Ohio races. His donations have included support for candidates and super PACs aligned with conservative economic policies.
Who is Les Wexner’s wife?
Wexner married Abigail Wexner in 1993. The couple lives in New Albany, Ohio. Abigail Wexner has been involved in philanthropic activities through the Wexner Foundation and other Ohio-based charitable organizations.
How old is Les Wexner?
He was born on September 8, 1937, making him 87 years old as of 2025.
Who are Les Wexner’s children?
Wexner and his wife Abigail have four children. The family has maintained a relatively private profile, with the children not heavily involved in Wexner’s business operations.
Wexner’s personal biography anchors a classic American retail story — but his political and philanthropic footprint in Ohio extends far beyond his business dealings. For researchers tracking donor influence in Ohio politics, Wexner’s contributions remain a significant data point.
What was the downfall of Victoria’s Secret?
The brand that Wexner turned into a $7 billion annual revenue powerhouse saw its fortunes reverse sharply after 2015. Several forces converged: shifting consumer tastes, competition from body-positive brands, and a devastating reputational scandal.
What is the Victoria’s Secret controversy?
The most damaging factor was Wexner’s long association with convicted sex offender Jeffrey Epstein. Epstein reportedly managed Wexner’s finances and had access to his social circles. When Epstein was arrested on sex trafficking charges in 2019, scrutiny intensified on Wexner’s relationship with him. The New York Times reported that Wexner’s departure capped a year involving revelations about ties to Epstein and a culture of misogyny at Victoria’s Secret.
Who is Victoria’s Secret’s biggest competitor?
The Guardian attributed Victoria’s Secret’s decline to competition from body-positive brands such as Aerie (American Eagle’s lingerie line) and Lively, and from athleisure brands such as Lululemon. These competitors offered a more inclusive sizing and marketing approach that resonated with a generation rejecting the “Angels” image.
What is the sister store to Victoria’s Secret?
Bath & Body Works is the sister brand that was also under the L Brands umbrella. It remains a separate, publicly-traded company after the spinoff of Victoria’s Secret.
Is Victoria’s Secret popular anymore?
Sales data shows a mixed picture. Victoria’s Secret sales declined significantly after 2015, with the COVID-19 pandemic accelerating the downward trend. The brand still has a loyal customer base and substantial market presence but has lost the cultural dominance it held in the 1990s and early 2000s. Its market share has been steadily eroded by digitally native competitors.
Wexner’s hands-on creative control built Victoria’s Secret’s image — but that same centralized decision-making failed to adapt to changing consumer values. For investors evaluating legacy retail brands, the Victoria’s Secret story is a cautionary tale about cultural inertia.
What is Les Wexner doing these days?
Since stepping down as CEO in 2020, Wexner has transitioned into a less visible but still active role. He holds the position of chair emeritus at Bath & Body Works. He remains a major philanthropist, with the Wexner Foundation and Wexner Medical Center at Ohio State University being his most prominent charitable beneficiaries.
What is Les Wexner’s relationship with Ohio State University?
Wexner’s connection to Ohio State is deep and financially significant. The Wexner Medical Center, named after him and his wife, is a major research hospital in Columbus. He has donated hundreds of millions to the university over the years, making him one of its largest benefactors. Ohio State’s board of trustees has described him as “founder and former Chairman and CEO of L Brands.”
Les Wexner’s philanthropic activities
Beyond Ohio State, Wexner has supported the Wexner Center for the Arts, Jewish community organizations, and Republican political causes. His giving pattern has historically mixed local Ohio impact with national political influence.
What was Les Wexner’s early life?
The story begins in Dayton, Ohio, where Wexner was born to a retail family. His father operated a women’s clothing store, giving the young Wexner an early education in fashion retail. He attended Ohio State University, earning a Bachelor’s degree in business administration before returning to Ohio to launch his own venture.
Les Wexner young
In his early 20s, Wexner identified a gap in the market: women’s clothing stores that offered a focused, curated selection in a modern environment. That insight led to the first The Limited store in Columbus in 1963.
Les Wexner OSU
His Ohio State connection is lifelong. The university shaped his business education, and his donations reshaped its medical campus. For many Ohioans, the Wexner name is as synonymous with the university’s growth as any donor in the state’s history.
“The Ohio State University Board of Trustees described Wexner as ‘Founder and former Chairman and CEO of L Brands’ in their official records.”
Ohio State University Board of Trustees
“Forbes listed Wexner’s wealth at $9.3 billion in their 2025 billionaires ranking.”
Forbes
“Wikipedia’s biographical entry notes Wexner’s political activism and his role as a ‘Republican activist and major donor to Ohio State University.'”
Wikipedia
“TIME magazine reported that scrutiny over Wexner’s ties to Jeffrey Epstein was a major factor in his retirement from L Brands.”
TIME
Timeline: Les Wexner’s Career and Victoria’s Secret
A chronology of the key events that shaped Wexner’s business trajectory and the Victoria’s Secret story:
- 1963: Founds L Brands (originally The Limited) in Columbus, Ohio with a $5,000 loan
- 1977: Acquires Victoria’s Secret for $1 million
- 1990s: Victoria’s Secret becomes the dominant lingerie retailer globally, generating $7 billion in annual revenue
- 2015: Sales begin declining as competitors like Aerie gain market share
- 2019: Cancelation of Victoria’s Secret fashion show; Epstein scandal surfaces publicly
- February 2020: Steps down as CEO; sells 55% of Victoria’s Secret to Sycamore Partners for $525 million
- 2025: Net worth estimated at $8.8 billion; serves as chair emeritus of Bath & Body Works
forbes.com, datarankai.com, ebsco.com, buzztrend.uk, ceo.wiki
Frequently asked questions
Common reader questions about Les Wexner, answered with verified facts:
How did Les Wexner start his career?
Wexner opened The Limited in Columbus, Ohio in 1963 with a $5,000 loan from his aunt. He identified a market gap for curated women’s apparel stores and scaled the concept into a national chain.
What is the Wexner Medical Center?
The Wexner Medical Center is a major academic medical center at Ohio State University, named after Les and Abigail Wexner following their substantial donations. It is one of the largest medical research facilities in the Midwest.
What is Les Wexner’s connection to Jeffrey Epstein?
Wexner had a long business and personal relationship with Jeffrey Epstein, who reportedly managed his finances. Epstein was a convicted sex offender, and his arrest in 2019 brought renewed scrutiny to Wexner. Wexner has said he was unaware of Epstein’s criminal activities.
How much did Les Wexner donate to Ohio State?
Wexner’s total donations to Ohio State University are reported in the hundreds of millions of dollars, funding the Wexner Medical Center, the Wexner Center for the Arts, and other university programs. Exact figures are not fully public, but he is considered one of the university’s largest individual benefactors.
What awards has Les Wexner received?
Wexner has received numerous business and philanthropic honors, including induction into the Ohio Business Hall of Fame. Specific awards vary by year and organization.
Is Les Wexner still involved with Victoria’s Secret?
No. Wexner stepped down as CEO of L Brands in 2020, and Victoria’s Secret was spun off into a separate company in 2021. He no longer holds any executive role in the lingerie brand.
Does Les Wexner own any other retail brands？
He holds the chair emeritus role at Bath & Body Works, which was part of L Brands. He does not currently own or operate any other retail brands directly. His primary wealth remains tied to Bath & Body Works and personal investments.
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Daniel Campbell is Editor-in-Chief at True North Brief, overseeing editorial standards, publication decisions and corrections.