Sophia Christina Amoruso (born April 20, 1984) is an American businesswoman. Amoruso founded Nasty Gal, a women’s fashion retailer, which went on to be named one of “the fastest growing companies” by Inc. Magazine in 2012. In 2016, she was named one of the richest self-made women in the world by Forbes. However, Nasty Gal filed for bankruptcy. In 2017, Amoruso founded Girlboss Media, a company that creates content for women in the millennial generation to progress as people in their personal and professional life.
Her 2014 autobiography #GIRLBOSS was adapted into a television series of the same name for Netflix.
What is Sophia Amoruso’s Net Worth?
Sophia Amoruso is an American fashion designer, author and entrepreneur who has a net worth of $20 million. Sophia Amoruso is best known for founding the women’s fashion retailer Nasty Gal and the entertainment company Girlboss Media.
At the peak of Nasty Gal’s success in roughly 2012/2013, the company was generating tens of millions of dollars in annual revenue. In 2012 Sophia and Nasty Gal received a $49 million investment from Index Ventures. Amoruso was called the “Cinderella of tech” by the New York Times, and appeared on Inc. Magazine’s “30 Under 30” List in 2013. Unfortunately, by 2016, Nasty Gal’s fortunes had reversed and the company was forced to file for bankruptcy. With the loss of the company, Sophia’s net worth plummeted from a peak of $280 million.
Among her other endeavors, Amoruso wrote an autobiography called “#GIRLBOSS” that was adapted into a Netflix series in 2017.
Early Life
Sophia Amoruso was born on April 20, 1984 in San Diego, California. She is of Portuguese, Greek, and Italian ancestry, and was raised in the Greek Orthodox church. As a teen, Amoruso was diagnosed with both depression and attention deficit hyperactivity disorder; as a result, she dropped out of school and started to be homeschooled. She got her first job working at a Subway restaurant, and then had a number of odd jobs at places such as a bookstore and a record shop. After Amoruso completed her high school degree, her parents divorced; she subsequently moved to Sacramento to live a more liberated lifestyle. Following her move, she carried out a peripatetic existence that consisted of hitchhiking, stealing, and dumpster diving up and down the West Coast. While living in Portland, Oregon in 2003, Amoruso stopped thieving after she was caught shoplifting. Shortly after discovering a hernia in her groin, she relocated to San Francisco, where she worked as a security guard at the Academy of Art University to pay for health insurance for surgery.
Career
eBay store
At age 22 while working as a security guard at San Francisco’s Academy of Art University, Amoruso opened an online eBay store, which she called Nasty Gal Vintage, named after the 1975 album by funk singer and style icon Betty Davis. The store consisted of used vintage clothing and other items. The first item she sold was a book she had stolen as a teenager. She styled, photographed, captioned, and shipped the products herself using what she was taught in a photography class.
Amoruso began her business working out of her bedroom. In 2006, her eBay store Nasty Gal Vintage grew considerably, turning into a 1 million dollar yearly revenue business after 6 years and continuing to grow. Amoruso claims to have been banned from eBay in 2008 for posting hyperlinks in feedback to customers. Following this, she launched Nasty Gal as its own retail website, continuing to grow the business as a stand-alone online store. She has previously stated that she left voluntarily because of the rules preventing sellers from leaving negative feedback for customers. Amoruso was also accused of artificially inflating bids, which she has denied.
Nasty Gal
Nasty Gal developed an online following of young women on social media. It quickly grew with revenues increasing from $223,000 in 2008 to almost $23 million in 2011. At the peak of Nasty Gal, it was pulling in 100 million in annual sales, with over 200 employees. The New York Times has called her “a Cinderella of tech”. In 2013, Inc. Magazine named her to its 30 under 30 list. Also, in 2013, Business Insider named Sophia Amoruso one of the sexiest CEOs alive.
In 2014, Amoruso’s autobiography #GIRLBOSS was published by Portfolio, a Penguin imprint that specializes in books about business. In 2016, it was announced that Netflix would be adapting her autobiography into a television series called Girlboss. Amoruso confirms most of the show was accurate to her life. It was cancelled after one season, as it got a sour response from viewers, saying it was a call to millennial narcissists.
In an interview with Dan Schawbel of Forbes, Amoruso admitted that she was unprepared for the demands of being a CEO, having had no previous leadership experience, and advised that people seeking to launch a business first gain managerial experience at established companies.
On January 12, 2015, Amoruso announced she was stepping down as CEO of Nasty Gal, knowing the company could not continue under the current leadership. In November 2016, the company was reported to be filing for Chapter 11 bankruptcy protection, with Amoruso resigning as executive chairwoman. The reason for this bankruptcy can be pointed to leadership changes, a “toxic work culture”, and poor communication, among other faults. February 2017, Boohoo Group purchased Nasty Gal for $20 million, with Nasty Gal remaining in Los Angeles and continuing to produce apparel, shoes, and accessories under its own brand
Girlboss Media
In December 2017, Amoruso founded Girlboss Media(#girlboss), a company that creates editorial content, videos, and podcasts aimed at a female audience. Since 2017, Amoruso has held Girlboss Rallies, which are weekend-long instructional events for young entrepreneurs for around $500-$1400.
Bibliography
- Amorus, Sofia (2014). Girlboss. Penguin. ISBN 9780241217931.
- Amorus, Sofia (2016). Nasty Galaxy. Penguin. ISBN 9780241290507.
Amoruso also has a chapter giving advice in Tim Ferriss‘ book Tools of Titans.
