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- There are a few LGBTQ people in the world who are billionaires and millionaires.
- DreamWorks’ co-founder David Geffen and PayPal co-founder Peter Thiel are worth over $5 billion.
- Giorgio Armani’s is worth $8.9 billion, while Michael Kors is worth $600 million.
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While the elite group of billionaires and millionaires lacks diversity, some members of the LGBTQ community have managed to break through.
People who identify as LGBTQ have earned net worths that near or exceed 10 figures by inheriting empires, building companies, or creating brands.
Here are 10 of the richest LGBTQ people in the world.
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Starting as a Hollywood talent agent, Geffen made the foundation of his fortune when he created record labels Asylum Records, Geffen Records, and DGC Records. In 1994, he created the DreamWorks film studio with Steven Spielberg and Jeffrey Katzenberg. Geffen also has a large real estate portfolio and a $2 billion art collection, according to Business Insider.
In 2007, Out magazine called Geffen the most powerful gay man in the country.
Fashion designer Giorgio Armani’s fortune is about $8.9 billion.
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Armani began his career in the military after leaving medical school. In the ’70s, he started designing menswear clothing, but his career really took off when he started designing for Richard Gere in 1980. Since then, Armani’s brand has expanded into an empire, which includes accessories, interior design, and hotels.
PayPal’s co-founder Peter Thiel is worth $5.2 billion.
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In 1999, Thiel co-founded PayPal, which was meant to be a simple way to exchange money via devices. He was CEO of the company up until eBay acquired PayPal, and his stake in the company was said to be worth $55 million. Thiel was also an early investor of Facebook, and he founded a data analytics company, Palantir, which is valued at $20 billion, according to Forbes.
He now lives with his husband, Matt Danzeisen, in Los Angeles.
Jon Stryker is an heir to a medical equipment company. Forbes reports his net worth at $4.4 billion.
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Stryker’s grandfather founded Stryker Corp., which is a medical supply company that sold $14.9 billion in equipment in 2019, according to Forbes. One of the heirs to the family fortune, Stryker is a philanthropist, donating large sums of his money to charities and scholarships. So far, he has given away $585 million.
Stryker also founded the Arcus Foundation, which fights for LGBTQ rights and ape conservation.
Fashion designer Domenico Dolce is worth $2 billion.
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After meeting in a club, Dolce and Stefano Gabbana started a fashion brand together in 1985. The company’s signature animal print made waves at fashion events and even caught the attention of Madonna, solidifying Dolce & Gabbana’s place in fashion history.
Jennifer Pritzker, a hotel heiress, is the only openly transgender billionaire in the world.
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A former lieutenant in the Army, Pritzker inherited part of the Hyatt hotel fortune, giving her a net worth of $1.9 billion.
She came out as transgender in 2013 without much fanfare, but she made headlines in 2017 when President Trump announced a ban on transgender people serving in the military. Before this, Pritzker supported Trump and donated large sums to his campaign, but the ban prompted her to support Biden in his bid for the presidency.
Read more: 12 ultra-wealthy people who aren’t leaving their fortunes to their children
In 2020, Apple CEO Tim Cook officially became a billionaire.
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Cook became CEO of Apple in 2011 after the death of its founder, Steve Jobs. A decade later, the company is nearing a market value of nearly $2 trillion, making Cook a billionaire. Despite his billionaire status, he lives in a relatively cheap home in Palo Alto.
Fashion designer Michael Kors used to be worth $1 billion, but today, his fortune is estimated to be $600 million.
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Kors began his fashion design company in his mother’s basement in the ’80s and turned it into an empire. In 2011, he took the company public when it was valued at $3.5 billion. In 2004, he became a superstar when he became a judge on “Project Runway.” Ten years later, Kors became a billionaire.
Today, his fortune is a bit smaller, but he calls downtown New York City home with his husband, Lance Le Pere.
Read more: The surprising age gaps between 8 celebrity LGBTQ couples
Ellen DeGeneres’ net worth is estimated at $370 million, according to Forbes.
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DeGeneres began her career as a standup comedian who eventually landed a successful sitcom titled “Ellen” in the late ’90s. During that time, she came out as a lesbian, and she was blacklisted from Hollywood. In 2003, she made her return as a daytime talk show host — hers is still one of the most popular talk shows.
She’s married to Portia de Rossi and they live in Los Angeles.
Elton John has been in the music industry for decades, earning a fortune near $500 million.
Associated Press/Julie Jacobson
John began his music career in England and became known for his flamboyant and outrageous costumes. Quickly, he became a cultural phenomenon, launching his decade-spanning career. He still tours today and has sold over 300 million records, according to The Times.
Plus, John has been with his partner, David Furnish, for nearly three decades.
Read more: 12 of the longest LGBTQ celebrity relationships that prove love knows no bounds
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