Inside the world of designer Tom Ford, set to become a billionaire in $2.8 billion Estée Lauder buyout

Tom Ford attends the 2022 Met Gala.Mike Coppola / Staff / Getty Images

• Estée announced its acquisition of Tom Ford in a Tuesday news release.
• The deal — valued at $2.8 billion — has made Ford a billionaire.

Estée Lauder and Tom Ford have inked the luxury industry's biggest deal of 2022 in a $2.8 billion buyout of the American designer's eponymous brand. "I could not be happier with this acquisition as The Estée Lauder Companies is the ideal home for the brand, " Ford said when the deal was announced this week.

Tom Ford attends the 2018 Hammer Museum Gala In The Garden in Los Angeles, California.      Michael Tran/FilmMagic

Ford, who served as the creative director for Gucci after joining the company in 1990, is often credited for turning around the house of Gucci's trajectory and helping the company to go public in 1995.

Andrew Kelly/Reuters

His daring designs for Gucci earned him the title 'fashion's greatest provocateur,' Vogue Arabia reports.

Gwyneth Paltrow in 2021 wearing Tom Ford's autumn/winter 1996 Gucci collection.      Jordan Strauss/Invision/AP

He became the creative director of Yves Saint Laurent after it was acquired by Gucci in 1999.

Tom Ford's 2002 YSL dress on display at Metropolitan Museum of Art's Costume Institute exhibit titled "Goddess," in New York, April 2003      JIM COOPER/AP Photo

Tom Ford launched his eponymous brand in 2005. The soon-to-be billionaire is expected to stay with Estee Lauder through the end of 2023.

Tom Ford attends the Ambassadors For Humanity Gala in Beverly Hills, California.      Michael Kovac/Getty Images

With the launch of his eponymous menswear brand in 2006, Ford also launched a fragrance – Black Orchid.

Courtesy of Tom Ford

The Tom Ford Beauty line — launched by Estée Lauder in 2006 — is expected to bring in $1 billion in net sales over the next few years. The French cosmetic giant's newest acquisition will put Ford, 61, officially at billionaire status, the New York Times reports.

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Estée Lauder said it would be purchasing the American brand for $2.3 billion in cash and debt along with $300 million in deferred payments starting July 2025.

Fabrizio Freda, President and CEO of Estee Lauder Companies.      Andrew Innerarity/Reuters

His designs have been worn by many prominent figures – including first lady Michelle Obama in a 2011 visit with the Royal Family.

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In a foray into the movie world, Ford also wrote and directed films 'A Single Man' and 'Nocturnal Animals.'

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According to a 2021 annual report, Tom Ford raked in a $96 million profit on $1.7 billion in sales for the year. He referred to Estee Lauder as 'an extraordinary partner from the first day of my creation of the company."

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Ford's husband, fashion editor Richard Buckley, died in 2021 after 35 years together. Ford is based in Los Angeles but he and Buckley created a substantial property empire.

Tom Ford and Richard Buckley attend the 2017 Writers Guild Awards L.A. Ceremony at The Beverly Hilton Hotel on February 19, 2017 in Beverly Hills.      Todd Williamson/Getty Images