Name
Do Won Chang
Do Won Chang
Los Angeles, California
Diploma, High School
United States
10
fashion retail, Self Made
$1,600,000,000
745
#745 Billionaires 2019
#302 Forbes 400 2017
Do Won and Jin Sook Chang cofounded the $4 billion fast-fashion darling Forever 21, which has 790 stores spanning 48 countries. In 1984, the Changs started the chain with a 900-square-foot store in Los Angeles and a mere $11,000 in savings. Capitalizing on wholesale close-outs, they bought merchandise for cheap and hit $700,000 in first year sales, prompting them to open a new store every 6 months. The pair immigrated to the U.S. from South Korea in 1981 with not much more than a high school education. Today their Ivy-league educated daughters, Linda and Esther, work alongside their mother in merchandising.
Do Won pumped gas, washed dishes and cleaned offices to make ends meet before starting Forever 21. The Changs go to early morning prayer everyday and have the bible verse John 3:16 printed on the bottom of their company's shopping bags.
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Do Won Chang
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