Introduction:
Mossimo Giannulli is a fashion designer that is known for finding the company Mossimo. You might have seen his name floating in the news recently, and that is due to a college scandal that he and his wife are currently in.
Giannulli was born on June 4, 1963, in California and is a Gemini. Before dropping out of college, he studied architecture and business for three years.
Here is a little more information about Giannulli that you could be wondering about.
Net Worth:
Giannulli net worth is currently sitting at $70 million. He can attribute most of this to his company Mossimo.
Career
Giannulli decided to drop out of the University of Southern California in 1987 to pursue his dream in the fashion industry. He borrowed thousands of dollars from his father to get his feet off the ground, and his office was in his parent’s garage when he first began.
In 1996, Mossimo went live on the New York Stock Exchange, and the company raised $275 million. His name became even more significant since he was the youngest chairman to be listed on the New York Stock Exchange at that time.
In 2006 Giannulli decided to sell his company to Iconix Brand Group. This company is known for operating big companies like London Fog, Ed Hardy, Joe Boxer, and more.
Giannulli can attribute more success due to his collaboration with The Simpsons and creating athletic clothes, plus working with Target where his clothes were exclusively sold.
Family Life
Giannulli married actress Lori Loughlin, best known for Full House. The couple met in 1995 and eloped on Thanksgivings, later getting married in 1997 in Newport Beach, California. The pair has two daughters together, Isabella Rose and Olivia Jade, plus Gianni’s son from Giannulli’s previous relationship.
The Scandal
Giannulli and his wife are one of the high profile celebrities that are a part of a nationwide entrance exam cheating scandal called Operation Varsity Blues. The pair allegedly paid $500,000 that was disgusted as a donation to the Key Worldwide Foundation, so that the University of Southern California’s admission team would believe that their two daughters would be joining the college’s women’s rowing team if admitted.
Neither of the daughters was ever trained in the sport and had no plans to join the team upon their school admission. On March 13, 2019, the pair surrendered to the federal authorities in Los Angeles and were released on $1 million bonds each. The couple was also sued by Stanford University graduates who claimed their education and degrees were devalued due to its association with the scandal.
On April 9, 2020, the couple was charged with conspiracy to commit money laundering by federal prosecutors in Boston. The indictment alleged that the pair conspired to launder money to William Rich Singer and the charge could have a maximum sentence of 20 years in prison and a $500,000 fine.
The pair did take a plea deal for one of their charges, where they had to spend two years in prison. Loughlin already served her time and was released early from prison for her part in the scandal.
Conclusion
Now that Giannulli is a part of a scandal, who knows where his fashion line and career will go during this time. Currently, his brand is still sold at Target, but his daughter was dropped from all partnerships, and if he spends time in prison, who knows where his brand will go.
Frequently Asked Questions
What are Lori Loughlin and her husband’s net worth?
As of 2021, Loughlin’s net worth was $8 million, and her husbands was $70 million.
What is Olivia Jade’s Net Worth?
$1 million