Les Wexner
Born 1937 · Age 88
American billionaire businessman; founder of The Limited and L Brands; built Victoria's Secret and Bath & Body Works into global retail brands; major Ohio philanthropist; longtime associate of Jeffrey Epstein (1987–2007).
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Life & Career Timeline
Born in Dayton, Ohio
Leslie Herbert Wexner born to Harry Louis Wexner and Bella Cabakoff Wexner in Dayton, Ohio; family of Russian-Jewish origin.
Graduated Bexley High School
Completed secondary education at Bexley High School (Columbus area).
Graduated Ohio State University (BBA)
Graduated from Ohio State University with a major in business administration; joined Sigma Alpha Mu fraternity; later served in the Air National Guard.
Served in the Air National Guard
Service in the Air National Guard after college (dates overlapping early career).
Brief attendance at Moritz College of Law
Attended law school briefly before leaving to work in family retail business.
Opened first The Limited store
Opened The Limited in Kingsdale Shopping Center (Upper Arlington, Ohio) after borrowing $5,000 from his aunt and a matching bank loan.
Opened second The Limited store
Expanded The Limited with a second location (August 1964).
The Limited first public stock offering
Took The Limited public (initial offering reported as OTC/small public offering; early capital raise for expansion).
Reached 100 The Limited stores
The Limited expanded rapidly through the 1970s and opened its 100th store in 1976.
Moved The Limited HQ to Morse Road (Columbus)
The Limited consolidated operations and moved into Morse Road headquarters in Columbus, Ohio.
Acquired Mast Industries and automated distribution
Took on significant debt to acquire Mast Industries (importer/manufacturer) and built computerized distribution and network systems to speed product to stores.
Founded Limited Express (Express)
Opened the first Express (Limited Express) store in Chicago; Express later became a separate division and brand.
Listed as LTD on NYSE and major acquisitions
Company listed as LTD on NYSE; purchased Victoria's Secret (stores and catalog) and acquired Lane Bryant chain (year reported in multiple sources as 1982).
Acquired Victoria's Secret for $1M
Purchased Victoria's Secret from founder Roy Raymond for $1 million; later transformed brand into national leader in lingerie.
Established Wexner Foundation & major OSU donation
Created Wexner Foundation's first core program (with Rabbi Herbert A. Friedman) to educate Jewish communal leaders; made a $10M donation to OSU for the Wexner Center for the Arts (with an additional $15M pledged in 1987).
Acquired Henri Bendel and Lerner (major Lerner deal)
The Limited acquired Henri Bendel and later in 1985 bought 798 Lerner dress shops (reported purchase value $297M).
Named 'Rag Trade Revolutionary' profile; art collecting grows
Profiled in media as a retail revolutionary; expanded art collecting and philanthropic activity; partnership with art dealer Richard Gray begins after a major Picasso purchase (reported mid-1980s).
Jeffrey Epstein begins as financial manager
Retained Jeffrey Epstein as personal financial manager (Epstein served in this role from 1987 until ~2007).
Acquired Abercrombie & Fitch
Purchased Abercrombie & Fitch assets (Dispatch reports purchase of 25 stores for about $46M in 1988).
Bought Herbert N. Straus House (NY property) & donated to United Way
Purchased Straus House in New York (later sold to Jeffrey Epstein mid-1990s); Wexner and his mother made a $1M personal donation to United Way—first to make a $1M personal gift.
Opened first Bath & Body Works store
Launched Bath & Body Works in Cambridge, Massachusetts (line of toiletries, home fragrances); company later built Bath & Body Works into major chain.
Constructed New Albany estate
Built a 30-room Georgian-inspired estate (reported $47M value) on ~336 acres in New Albany, Ohio (estate became site of annual New Albany Classic equestrian event).
Granted Jeffrey Epstein power of attorney; trustee appointment
Granted Epstein power of attorney (July 1991) and instated him as a trustee on the Wexner Foundation board.
Victoria's Secret valued at ~$1 billion (estimate)
By 1992 Victoria's Secret under Wexner's leadership was estimated to be worth approximately $1 billion.
Married Abigail S. Koppel
Married attorney Abigail S. Koppel; the couple later had four children and hosted philanthropic events at their estate.
Initiated annual Victoria's Secret Fashion Show
Launched the annual televised Victoria's Secret Fashion Show (became a major marketing event until its cancellation in 2019).
Purchased Foxcote House (Warwickshire) and commissioned yacht 'Limitless'
Acquired the mid-18th-century Foxcote House in Warwickshire, England and had Limitless (315-foot yacht) built (1997), one of largest private yachts globally.
Created Intimate Beauty Corp
Formed Intimate Beauty Corp to serve as an umbrella for beauty businesses including Victoria's Secret Beauty.
Integrated Structure into Express
Integrated the Structure brand into Express to create a combined men/women offering; Express launched national TV ads in 2002.
Recombined Limited and Intimate Brands into Limited Brands
Corporate reorganization reunited apparel and beauty businesses under the Limited Brands umbrella (later L Brands).
Received Woodrow Wilson Award for Corporate Citizenship
Award from the Woodrow Wilson International Center for Scholars in recognition of corporate citizenship.
Acquired La Senza for $628M
Limited Brands paid $628 million to acquire lingerie company La Senza (largest acquisition to date reported for the company in 2006).
Sold majority interest in Express and The Limited assets to Sun Capital
Sold 75% interest in The Limited store operations and a majority interest in Express to Sun Capital Partners to focus on Victoria's Secret and Bath & Body Works (remaining 25% sold in 2010).
Cut ties with Jeffrey Epstein (approx.)
Approximately 18 months after Epstein faced Florida charges (2006), Wexner cut ties with Epstein (around 2007); relationship had begun in 1987.
Announced layoffs and HQ move to New Albany
Limited Brands announced ~400 layoffs after weak sales and later announced move of headquarters from Morse Road to New Albany (announced 2009, moved later).
Sold remaining Limited store assets to Sun Capital
Sold the remaining 25% interest in The Limited retail stores to Sun Capital in 2010; The Limited ceased brick-and-mortar operations in later years.
Inducted as honorary member, Sphinx Senior Class at OSU
Inducted as an honorary member of the 104th Sphinx Senior Class at Ohio State University.
Pledged $100M gift to Ohio State University
Announced a $100 million donation to Ohio State for the Medical Center, James Cancer Hospital, Wexner Center for the Arts, and other areas; largest gift in university history.
L Brands donated $163.4M to Columbus Foundation
Through the L Brands Foundation, Wexner and the company contributed $163.4 million to the Columbus Foundation (reported as a large historic gift in Ohio).
Ohio State Medical Center renamed Wexner Medical Center
The Ohio State University board of trustees voted to rename the medical center in recognition of Wexner's lifelong support and major gifts.
Wexner Center hosted public exhibition of personal collection
The Wexner Center for the Arts staged the first public exhibition of Leslie and Abigail Wexner's personal art collection.
Ranked #11 on HBR's Best-Performing CEOs (2015)
Harvard Business Review ranked Wexner number 11 on its Top 100 Best-Performing CEOs in the World for 2015.
Eliminated Victoria's Secret catalog
L Brands ended the publication of the Victoria's Secret catalog as consumer behavior shifted to digital channels.
Ranked #34 on HBR's Best-Performing CEOs (2016)
Harvard Business Review ranked Wexner number 34 in its 2016 list of best-performing CEOs.
Estimated personal net worth ~$6 billion
Media reporting (Forbes / other profiles) estimated Leslie Wexner's net worth at nearly $6 billion around 2017.
Ended New Albany Classic equestrian event
Abigail Wexner announced the end of the Annual New Albany Classic Invitational Grand Prix after 20 years, citing growth of other equestrian events.
Renounced Republican Party affiliation
Publicly renounced affiliation with the Republican Party (reported Sept 2018), citing party changes.
Victoria's Secret Fashion Show canceled
After years of declining ratings and criticisms, L Brands canceled the annual Victoria's Secret Fashion Show in 2019.
Jeffrey Epstein arrested on sex-trafficking charges
Epstein, who had been Wexner's financial manager (1987–2007), was arrested; media scrutiny of Wexner's past ties intensified.
Jeffrey Epstein found dead; Wexner statement about misappropriation
Following Epstein's death (Aug 2019), Wexner publicly stated Epstein had 'misappropriated vast sums of money' from him and his family and retained attorney Mary Jo White.
Announced sale of majority stake in Victoria's Secret to Sycamore (reported ~$525M)
L Brands announced plan to sell a majority interest in Victoria's Secret to Sycamore Partners for a reported $525M; the deal later fell apart amid COVID-19 disruptions.
L Brands corporate layoffs & cost-cutting
L Brands cut about 15% of corporate jobs (~850 positions) as part of a $400M annual cost savings plan in 2020.
Transitioned from CEO to Chairman Emeritus (announced)
Announced transition from CEO of L Brands to chairman emeritus (February 2020); later in 2020 stepped down as chairman and CEO at annual meeting but retained emeritus title in some accounts.
Leslie and Abigail Wexner retire from L Brands board
L Brands announced that Leslie H. Wexner and his wife Abigail would retire from the company's board in 2021.
L Brands shareholders filed Chancery complaint naming Wexner
Shareholder complaint filed in Delaware alleging Wexner and others created a culture of misogyny and were aware of abuses tied to Jeffrey Epstein, alleging breach of fiduciary duty.
Subject of media scrutiny and documentaries
Wexner's relationship with Jeffrey Epstein highlighted in documentaries and media reports (e.g., Hulu's 'Victoria's Secret: Angels and Demons') and in popular culture.
Rare public appearances as legal matters continue
Reporting notes Wexner was rarely seen in public while legal and reputational matters tied to Epstein and company culture persisted into 2023.
Estimated net worth reported (~$6B)
Research and wealth sources (EBSCO / Forbes references) list an estimated net worth for Wexner at approximately $6 billion (2023–2024 estimates vary around this figure).
Key Achievement Ages
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