What was Elsa Peretti's net worth? Tiffany & Co designer mourned as 'true style revolutionary' after death at 80

What was Elsa Peretti's net worth? Tiffany & Co designer mourned as 'true style revolutionary' after death at 80
Famed jewelry designer Elsa Peretti has passed away at the age of 80 (YouTube/Tiffany & Co)

Famed jewelry designer and former model Elsa Peretti passed away Thursday night at age 80. Peretti was known for creating some of the iconic ornaments for Tiffany & Co. during her partnership with the renowned jewelry house.

Peretti’s family issued a statement after Peretti’s death and noted that she died Thursday in her sleep at home in a small village outside Barcelona, Spain. The American jewelry house also mourned the death of the iconic jewelry designer and shared that Elsa was “not only a designer but a way of life.” The company added, “Elsa explored nature with the acumen of a scientist and the vision of a sculptor.”

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Peretti started her professional career as a model 

Born in Florence, Peretti started her professional career in the fashion industry as a model in Barcelona. After being a part of some modeling gigs in Barcelona, Peretti decided to move to New York City on the advice of Wilhelmina Modeling Agency. The decision turned out to be successful for her. In the early 1970s, along with Karen Bjornson, Anjelica Huston, Alva Chinn, Pat Cleveland, and Pat Ast, among others, she became one of designer Halston's favored models, nicknamed the Halstonettes. 

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Elsa Peretti as a model (Irenebrination)

 

Peretti started jewelry designing in 1969 

In 1969, Peretti began creating new jewelry styles for a handful of fashion designers in Manhattan. Her first design, inspired by a similar kind of thing in a flea market, was a two-inch bud vase made of sterling silver. It was worn as a pendant by one of Giorgio di Sant' Angelo's models and became a huge hit. By 1971, she was designing jewelry for Halston. 

Peretti won a Coty American Fashion Critics’ Award for jewelry design in 1971 and made her debut appearance in Vogue magazine later that year. In 1974, Peretti signed a contract with Tiffany & Co to design silver jewelry and by 1979 she was the firm's leading designer. Some of her designs like Open Heart, Bean and Bottle pendants, and Bone Cuffs are still popular among the ladies.

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In 2012, Peretti renewed her contract with Tiffany & Co. and received a $47.3 million payment. It was found out that her creations accounted for more than 10% of the company’s global net sales. Talking about her renewal of contract at the time, Peretti said, “It was my price for the past. It might look like a lot, but, after taxes, it’s not really, for the work I’ve done.”

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Meanwhile, Forbes reported that apart from receiving more than $47 million with the renewal of the contract, Peretti also received a basic annual royalty fee of $450,000 for use of Peretti Intellectual Property.


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She created a charity to honor her father 

In 2000, Peretti started a charity, the Nando Peretti Foundation (NPF), to honor her father. Since 2000, the Nando and Elsa Peretti Foundation has awarded grants to more than 1000 projects in 81 countries across the world, for an overall value of 50 million euros. 

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Awards and Achievements

In 1971, she won the American Fashion Critics’ COTY Award for jewelry designing and received President’s fellow award in 1981. She was also named Council of Fashion Designers of America's Accessories Designer of the Year in 1996. Her designs were so iconic that the British Museum acquired 30 of Peretti's creations for its 20th-century collections in 2009.
Meanwhile, in 2013, The Catalan Government honored Peretti with the National Prize of Culture for outstanding contribution in their respective cultural areas.

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Elsa Peretti (Wikimedia Commons)

What is the iconic jewelry designer’s net worth?

As a jewelry designer, philanthropist, and creator of some of the iconic ornaments, Peretti’s net worth is not as huge as someone would have expected it to be. According to Net Post Worth, Peretti’s worth is estimated at somewhere between $900,000 and $1 million. Most of the money that she made in her was used in creating the charity and doing partnerships with organizations like UNHCR, World Food Programme, AMREF Health Africa, Light for the World, MEF-Médecins Sans Frontières, CUAMM Doctors with Africa, INTERSOS, and AZ Children/Nurture Africa.

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'A masterful artisan'

Fans were really devastated to hear the news of her demise and extended their condolences on social media. One of the users said, “What a talent and what a personality. When it comes to Elsa Peretti, I don't think they broke the mold, they never had one! I luckily still have some cherished Peretti pieces. I’ll stroll by Tiffany's and wear my bean necklace tomorrow in her honor.” Meanwhile, Tiffany & Co. also paid a tribute to the iconic designer by saying, “A masterful artisan, #ElsaPeretti revolutionized the world of design and forever changed the way women wore jewelry. Elsa’s legacy will remain a constant inspiration for generations to come.”

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Renowned designer Michael Kors also paid homage to the iconic designer and said, “Rest in peace, the one, and only Elsa Peretti. A true fashion and style revolutionary—timeless, elegant, iconic. –MK.” Another user wrote, “When I was younger my dream was to own an Elsa Peretti bean. My parents gave me one for my 21st birthday. It’s one of my most treasured possessions.” Another user shared, “RIP Elsa Peretti, truly my favorite jewelry designer.”

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