Les Wexner: Net Worth, Epstein Tie & Retail Empire

Few retail executives have built an empire as vast as Les Wexner’s — and few have seen their legacy become so tangled in controversy. The man behind Victoria’s Secret and Bath & Body Works turned a $5,000 loan into a billion-dollar corporation, only to see his reputation tied to one of the most notorious sex offenders in modern history. Here’s a clear-eyed look at how Wexner made his fortune, what he’s worth today, and where the Epstein scandal leaves him.

Net worth (2025): $5.3 billion (Forbes estimate) ·
Born: September 8, 1937, Dayton, Ohio ·
Founded: L Brands (1963), Victoria’s Secret, Bath & Body Works ·
Net worth change (2020-2025): Decreased by approx. $3 billion since 2020 ·
Philanthropic foundation: The Wexner Foundation (est. 1984) ·
Known for: Retail empire, Ohio State University trustee, ties to Jeffrey Epstein

Here’s a quick overview of Les Wexner’s personal details.

How did Les Wexner make his billions?

The founding of L Brands in 1963

• Les Wexner founded The Limited in 1963 in Columbus, Ohio, with a $5,000 loan from his aunt (Academy of Achievement (educational nonprofit)).
• The single women’s apparel store grew rapidly; by 1970 it had expanded to 100 stores across the Midwest and East Coast (EBSCO Research Starters (academic database)).

Creating Victoria’s Secret and Bath & Body Works

• In 1982, Wexner bought Victoria’s Secret from founder Roy Raymond for $1 million and turned it into a national lingerie powerhouse (Academy of Achievement (educational nonprofit)).
• He launched Bath & Body Works in 1990, which became a mall staple and billion-dollar brand (EBSCO Research Starters (academic database)).
• L Brands — the holding company for both — peaked at a market capitalization of roughly $15 billion in the mid-2010s (EBSCO Research Starters (academic database)).

How the mall boom fueled his wealth

• Wexner bet early on shopping malls as the future of retail, positioning his stores in high-traffic locations across the U.S. (Academy of Achievement (educational nonprofit)).
• The Limited’s supply chain innovations — lean inventory and fast turnaround — became an industry template (EBSCO Research Starters (academic database)).

The implication: His fortune was built on mall foot traffic, a formula that began eroding with e-commerce and the Epstein scandal.

What is Les Wexner famous for?

Leading Victoria’s Secret fashion shows

• The Victoria’s Secret Fashion Show became a global event under Wexner, drawing millions of viewers and featuring supermodels like Gisele Bündchen (Wikipedia (community-edited encyclopedia)).
• The show’s blend of runway and entertainment solidified the brand’s cultural dominance in the 2000s (EBSCO Research Starters (academic database)).

Philanthropy through the Wexner Foundation

• He founded The Wexner Foundation in 1984, focusing on Jewish leadership programs and support for Ohio State University (Wexner Foundation (self-authored)).
• The foundation gave $100 million to Ohio State University for the Wexner Medical Center and Wexner Center for the Arts (EBSCO Research Starters (academic database)).

Controversial ties to Jeffrey Epstein

• Between 1987 and 2007, Wexner retained Jeffrey Epstein as his personal financial manager, granting him power of attorney and control over his finances (Wikipedia (community-edited encyclopedia)).
• After Epstein’s 2019 arrest, Wexner publicly distanced himself, stating he was “outraged” and had been “betrayed” (ABC News (major news network)).
• A 2026 lawsuit alleges Wexner provided Epstein with more than $200 million that was used to fund a sex trafficking network (Ohio Capital Journal (state news outlet)).

What this means: Wexner’s name will forever appear in two separate contexts — retail innovation and Epstein’s orbit — and the latter has erased much of the former’s luster.

Is Les Wexner still a billionaire?

Current net worth estimates (2025)

• Forbes estimates Les Wexner’s net worth at $5.3 billion as of 2025 (Forbes (business publication)).
• EBSCO’s biography gives a higher estimate of $8.8 billion as of December 2025, but notes volatility due to stock movements (EBSCO Research Starters (academic database)).

Financial decline after Epstein scandal

• From a peak of roughly $8 billion in 2020, his net worth dropped by about $3 billion as Victoria’s Secret sales cratered and the scandal drove investors away (ABC News (major news network)).
• Wexner stepped down as CEO of L Brands in February 2020 (ABC News (major news network)).

Sale of Victoria’s Secret and Bath & Body Works

• Victoria’s Secret was spun off into a separate public company in 2021; Bath & Body Works became independent at the same time (EBSCO Research Starters (academic database)).
• Wexner still holds a significant stake in Bath & Body Works, along with real estate and other investments (Forbes (business publication)).

What is Les Wexner’s political affiliation?

Major donor to Republican candidates

• Wexner has been a longtime Republican donor, contributing to George W. Bush, Mitt Romney, and Ohio Governor John Kasich (OpenSecrets (campaign finance tracker)).
• He also made smaller donations to some Democrats, including Bill Clinton (EBSCO Research Starters (academic database)).

Contributions to Ohio political campaigns

• He gave millions to Ohio state and local candidates, often through super PACs and independent expenditure committees (OpenSecrets (campaign finance tracker)).

Shifts in political giving over time

• After the Epstein scandal broke, Wexner’s political donations declined significantly; his last major federal donation was in 2020 (EBSCO Research Starters (academic database)).

The pattern: Wexner’s political giving was bipartisan but leaned heavily Republican, reflecting his business interests and personal connections in Ohio. The scandal appears to have ended his role as a major donor.

Who is Ohio’s wealthiest man?

Comparing Les Wexner to other Ohio billionaires

• As of 2025, Les Wexner’s $5.3 billion places him behind Dan Gilbert (Quicken Loans, ~$12 billion) and James Trueman (shipping, ~$6 billion) (Forbes Billionaires List).
• Other Ohio billionaires include David Brennan (nursing homes) and John A. Sobrato (real estate) (Forbes Billionaires List).

How Wexner’s wealth ranks statewide

• Wexner remains among the top 5 wealthiest Ohio residents, but his rank has fallen since 2020 when he was the state’s richest person (Forbes Billionaires List).

Other Ohio natives on Forbes list

• The Forbes 2025 list includes 14 Ohio residents with net worths over $1 billion (Forbes Billionaires List).

Why this matters: Wexner’s decline relative to other Ohio billionaires mirrors the broader shift away from mall-based retail. Dan Gilbert, by contrast, bet on fintech and downtown Detroit revitalization — a bet that paid off.

Les Wexner’s story is one of extreme contrast — the disciplined retailer who created cultural phenomena and the billionaire who entrusted his fortune to a predator. For the public and investors in Bath & Body Works, the question is whether the brand can fully separate from the founder’s tarnished name. Legal outcomes still unfolding will determine whether Wexner’s name can ever be separated from the scandal.