Thursday, April 18, 2024
HomeBusinessCEOsGary Friedman Net Worth

Gary Friedman Net Worth

Gary Friedman is the chairman and chief executive officer of home furnishings retailer Restoration Hardware, Inc.

What is Gary Friedman’s Net Worth and Salary?

Gary Friedman is an American businessman and retailer who has a net worth of $2 billion. Gary Friedman serves as the CEO and chairman of the upscale home-furnishings company Restoration Hardware. A year after he resigned due to allegations of inappropriate romantic relations with a female employee, he was reappointed. Before joining RH, Friedman held various positions at the retail company Williams-Sonoma, including COO and president.

Early life

Gary Friedman was born in San Francisco to a Jewish family. When he was five years of age, his father died and he was raised by his mother in Sonoma, California. While attending community college, he worked part-time at The Gap, in 1977. He became the youngest manager in the company’s history, in addition to the company’s youngest district manager and regional manager.

Career

From 1988 to 2001, Friedman worked for Williams-Sonoma, Inc., where he served in various capacities, including as president and chief operating officer from May 2000 to March 2001, and as chief merchandising officer and Director of Retail Stores for both Williams-Sonoma and Pottery Barn brands from 1992 to 2000.

He was appointed president and chief executive officer of Restoration Hardware in June 2011 and served as co-chief executive officer since 2001. On August 16, 2012, Friedman stepped down after an alleged relationship with a 26-year-old female subordinate employee. Friedman was reappointed co-CEO and chairman of the board for Restoration Hardware in July 2013. At Restoration Hardware he has overseen several reinventions of the company.

Restoration Hardware

After leaving Williams-Sonoma, Friedman joined another upscale home-furnishings retailer, Restoration Hardware. He became the company’s co-CEO in 2001, and in 2011 was appointed its president and CEO. During Friedman’s early years at the company, RH was experiencing declining sales. Things became even more precarious in 2007 when Sears Holding Corporation acquired a 13.7% share of the company, leading some to worry about Sears attempting a full takeover. However, this didn’t happen; instead, RH completed a transaction with the global investor Catterton Partners, and went private in 2008. Four years after that, the company made its initial public offering. RH subsequently expanded its operations, creating a small spaces line and a tableware line, and also opening a gallery in the Back Bay neighborhood of Boston, Massachusetts.

Real Estate

Friedman resides in a five-bedroom mansion in Beverly Hills, California that he bought for $37 million. Encompassing 11,000 square feet of land, it features a bar, a gym, an infinity pool, a screening room, and a four-car garage. It also boasts a two-story skylight foyer. Outside in the back, there are extravagant gardens on display.

- A word from our sponsors -

Most Popular

More from Author

Angola’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Here's a look at Angola's wealthiest individuals in 2024, highlighting the...

Algeria’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Algeria, with its significant oil and gas reserves, has a group...

Ethiopias’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Ethiopia, known for its rich cultural heritage, is also home to...

- A word from our sponsors -

Angola’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Here's a look at Angola's wealthiest individuals in 2024, highlighting the top entrepreneurs and business magnates who are shaping the country's economic landscape. This list is current for 2024 and excludes Isabel Dos Santos, focusing on the new and prevailing forces in Angola's billionaire circle.Angola’s Billionaire Elite:...

Discover the Ultimate Road Companion: Nissan Caravan Now Available in Mombasa, Kenya

Are you on the hunt for a vehicle that combines robust performance with spacious comfort? Look no further than the Nissan Caravan, currently on offer in the bustling city of Mombasa, Kenya. Ideal for businesses requiring cargo transport, groups seeking adventure, or families needing extra space, the...

Algeria’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Algeria, with its significant oil and gas reserves, has a group of wealthy individuals whose influence spans across various industries including construction, manufacturing, food, and pharmaceuticals. Here is a table summarizing the top 10 wealthiest individuals in Algeria as of 2024:As of 2024, here is the latest...

Rising Icon of Sport: Kenya’s Talanta Stadium Set to Redefine African Athletics

Kenya's Pinnacle of Pride: Unveiling the Talanta Sports CityNAIROBI-KENYA | Amidst the bustling energy of Nairobi, a new landmark rises - the Talanta Sports City. A marvel of architecture that intertwines the spirit of Kenyan heritage with cutting-edge design, this stadium is poised to become a beacon...

Ethiopias’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Ethiopia, known for its rich cultural heritage, is also home to some of the wealthiest individuals in Africa. These moguls have diversified their investments across various sectors including oil, mining, agriculture, and real estate, significantly contributing to the nation's economic development. Here's a look at the top...

Trailblazers of Wealth: Kenya’s Five Most Influential Women in 2024

Kenya's economic landscape is distinguished not only by its vibrant markets and industries but also by the formidable women who have risen to the top of these sectors. As of 2024, here is a detailed look at the five richest women in Kenya, highlighting their net worth,...