Estée Lauder’s agreement to acquire fashion firm Tom Ford appears to have made its founder a new billionaire. The cosmetics giant announced on Tuesday it was purchasing the fashion brand for $2.3 billion in cash and debt, plus $300 million in deferred payments that would be paid out beginning in July 2025. The deal values the company at $2.8 billion, including the $250 million Estée Lauder will receive from Marcolin, the Italian eyewear brand that holds the license for Tom Ford’s line of glasses.
Forbes estimates that Ford, 61, will get about $1.1 billion in cash from the sale, after deducting estimated taxes. (The transaction is expected to close in the first half of 2023.) Ford owned nearly 64% of the company according to a 2013 filing, and he does not appear to have sold any of his stake since then. He also owns at least two homes, including one in Holmby Hills in Los Angeles and another on New York’s Upper East Side, that are worth a collective $65 million. Altogether, Ford is now worth an estimated $1.2 billion. Estée Lauder and Tom Ford did not immediately respond to a request for comment.

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