Peter Nygard Net Worth: Finnish-Canadian Peter Nygard is a former fashion executive. His company, Nygard International, was established in 1967. It produces clothing for women. He served as the company’s chairman until February 2020. His resignation came after the FBI searched his firm’s headquarters as part of its investigation of sex trafficking allegations against him. The charges against Nygard include rape, sexual harassment, child sex trafficking, conspiracy to murder, tax evasion, and abusive labor practices.
He was ranked 70th richest Canadian in 2009 by Canadian Business Magazine based on his net worth of million, and his financial value has since increased. Let’s take a look at Peter Nygard net worth, bio, age, height, weight, wife, nationality, and more.
Peter Nygard was born on July 24, 1941, in Helsinki, Finland. When Peter was eleven years old, his parents Eeli and Hilkka immigrated to Canada. After arriving in Winnipeg, they settled there. Nygard studied at the University of North Dakota at the time. His bachelor of business administration degree was earned in 1964. Upon graduating from college, Peter held a variety of modest jobs.
On December 1, 1967, Peter Nygard began working at a company called Jacob’s Fashions. A woman’s clothing manufacturer employed him as a sales manager for their jeans line. He used his savings and a second loan to buy 20% of the company from the founder a few weeks after starting work. After buying the company from the owner’s daughters, Peter renamed it, Tan Jay.
Peter Nygard founded his own clothing manufacturing company, Nygard, in the same year he was 26 years old. The company made apparel at first. About ten years later, they expanded nationwide. The corporate headquarters of Nygard International are located in Manhattan’s Times Square. Currently, the company is one of the world’s largest suppliers and producers of women’s clothes. It generates over $500 million in revenue each year, employs 12,000 people worldwide, and has over 200 retail outlets in North America. Their products are available at Costco, Dillard’s, Walmart, and other retailers.
A fire damaged part of Peter Nygard’s 150.000-square-foot compound on Lyford Cay, Bahamas, in November 2009. It was designed in the Mayan style. The island was renovated for $50 million in 2010. It would take two years to fully restore and repair the damage caused by a fire, which would require 200 construction workers. A letter from the Bahamas’ prime minister rejected his development application following his declaration of intention to extend his land over the seabed.
A legal battle regarding Peter Nygard’s attempt to dredge the sea bed around the Nygard Cay led to the Bahamas’ Supreme Court seizing the property on September 28, 2018.
Peter Nygard Wife & Children
Peter Nygard and Carol Knight were married briefly in the 1970s. He is said to have had ten children with eight different women.
He has given generously to the Canadian Breast Cancer Foundation as a strong supporter of breast cancer research. He has been an active supporter of the Bahamas’ Amateur Boxing Federation team and helped them achieve Olympic success.
Peter Nygard Scandals and Controversaries
A total of ten women have filed a class-action complaint against Peter asserting that he raped women at his beachside Bahamas property in February 2020. Among the allegations against Peter was that he ran a sex trafficking ring with the assistance of underage girls. The billionaire broke his silence on the accusations, asserting that the allegations are the result of a hired smear campaign waged by his Bahamian neighbor, Louis Bacon.
Peter Nygard Net Worth
Peter Nygard Net Worth is estimated at around $900 Million as of 2023. He amassed his fortune as the founder, owner, and chairman of Nygard International, a women’s clothing manufacturer based in Canada. He was named the 70th richest Canadian by Canadian Business Magazine in 2009, and his wealth has since grown thanks to his investments and active involvement in a variety of ventures. He reportedly owns at least two Boeing 727 private planes, both of which bear his name across the body.
Where is Peter Nygard now?
Nygard is currently in custody in Toronto on historical sexual assault charges. His next court appearance is scheduled for Dec. 10. He also faces charges of racketeering and sex trafficking in New York and has agreed to extradition.
Who is peter Nygard’s daughter?
He has four daughters named Bianca Nygard, Alia Nygard Daneault, Xar Nygard, Scarlet Nygard.
What is the age of Peter Nygard?
He is 80 years old.
How much is peter nygard worth?
Peter Nygard Net Worth is estimated at around $900 Million as of 2023.
Is Peter Nygard Alive?
Yes, he is alive.
Is peter nygard married?
Peter Nygard and Carol Knight were married briefly in the 1970s.