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{{Infobox person
| name               = Les Wexner
| image              = Les_Wexner.jpg
| image_size         = 300px
| caption            = Les Wexner, founder of The Limited and L Brands
| birth_name         = Leslie Herbert Wexner
| birth_date         = {{Birth date and age|1937|9|8}}
| birth_place        = [[Dayton, Ohio]], United States
| nationality        = {{flagicon|USA}} American
| education          = [[Ohio State University]] (B.S.)
| alma_mater         = Ohio State University
| occupation         = [[Businessman]], [[Retail]] executive, [[Philanthropist]]
| years_active       = 1963–2020
| known_for          = Founding [[The Limited]]<br>Building [[Victoria's Secret]]<br>Chair emeritus of [[Bath & Body Works, Inc.]]
| spouse             = {{marriage|Abigail Koppel|1993}}
| children           = 4 (Sarah, David, Harry, Hannah)
| net_worth          = US$10.1 billion (July 2025)
| title              = Founder and former CEO, L Brands<br>Chair Emeritus, Bath & Body Works, Inc.
| residence          = [[New Albany, Ohio]], United States
| boards             = Ohio State University (former Chair)
| religion           = [[Judaism]]
}}

'''Leslie Herbert Wexner''' (born September 8, 1937) is an American [[billionaire]] [[businessman]], [[investor]], and [[philanthropist]]. He is the founder of [[The Limited]], which he grew into [[L Brands]], one of the largest [[specialty retail]] conglomerates in the United States, and the current chair emeritus of [[Bath & Body Works, Inc.]] Wexner built a retail empire that at its peak included [[Victoria's Secret]], [[Abercrombie & Fitch]], [[Lane Bryant]], [[Bath & Body Works]], [[Henri Bendel]], and [[Express, Inc.|Express]], transforming American retail over six decades.

Born in [[Dayton, Ohio]], to [[Russian Empire|Russian]] [[Jewish]] immigrants who owned a small clothing store, Wexner founded The Limited in 1963 with a $5,000 loan from his aunt. The single women's apparel store in [[Columbus, Ohio]], grew into a retailing behemoth with more than 4,000 stores across multiple brands. His 1982 acquisition of [[Victoria's Secret]] for $1 million transformed a struggling San Francisco lingerie shop into the world's leading intimate apparel brand, ultimately worth billions of dollars.

Wexner is the wealthiest person in [[Ohio]] and one of the most successful retail entrepreneurs in American history. However, his legacy has been overshadowed by his decades-long relationship with convicted [[sex offender]] [[Jeffrey Epstein]], who served as Wexner's financial manager from 1987 to 2007 and held an "unlimited" [[power of attorney]] over his affairs. In February 2020, amid scrutiny over his Epstein ties, Wexner stepped down as chairman and CEO of L Brands after nearly six decades at the helm. The company subsequently split into [[Victoria's Secret & Co.]] and [[Bath & Body Works, Inc.]] in 2021.

A major [[philanthropist]], Wexner has donated more than $500 million to charitable causes, with particular focus on Jewish leadership development through the [[Wexner Foundation]] and support for [[Ohio State University]], where the [[Ohio State University Wexner Medical Center|Wexner Medical Center]] bears his name. As of July 2025, [[Forbes]] estimates his net worth at $10.1 billion, boosted significantly by an early investment in [[artificial intelligence]] company [[CoreWeave]].

== Early life and education ==

=== Family background ===

Leslie Herbert Wexner was born on September 8, 1937, in [[Dayton, Ohio]]. His parents, Harry and Bella Wexner, were [[Russian Empire|Russian]] [[Jewish]] immigrants who had come to the United States seeking better opportunities. Harry Wexner had emigrated from Russia to America when he was thirteen years old, eventually finding work as a manager of a chain of budget clothing stores.

By the time Leslie was born, Harry was working to establish himself in the retail business. The family eventually moved to [[Columbus, Ohio]], where Harry and Bella opened a small clothing store they named "Leslie's" in honor of their son. The shop, located in downtown Columbus, sold women's apparel and served as both the family business and young Leslie's introduction to retail.

Growing up in a household where retail was the family's livelihood, Wexner absorbed lessons about merchandising, customer service, and the clothing business from an early age. The modest store provided a comfortable middle-class existence but was far from the retail empire Leslie would eventually build.

=== Education ===

Wexner attended local schools in Columbus and demonstrated an early aptitude for understanding business dynamics. After completing his secondary education, he enrolled at [[Ohio State University]], the state's flagship public university located in Columbus.

At Ohio State, Wexner studied business and earned his [[Bachelor of Science]] degree. The university would remain an important institution in his life—he would later serve on its Board of Trustees, donate over $100 million to its medical center, and see that facility renamed in his honor.

Following graduation from Ohio State, Wexner fulfilled his military obligation by serving in the [[Air National Guard]] before returning to Columbus to work in his parents' clothing store. This period would prove transformative in shaping his retail philosophy.

=== Early retail experience ===

After completing his military service, Wexner went to work at his parents' store, Leslie's. According to Wexner, he began working at the store so his parents could finally take a vacation after years of operating the business without a break.

While managing the store, Wexner conducted a detailed analysis of its sales and inventory. He identified which items were the most profitable and which were underperforming. The young businessman noticed that certain products—particularly sportswear items for young women like skirts, sweaters, and shirts—sold much faster and generated higher margins than other merchandise.

When Wexner presented his findings to his father and suggested adjusting the inventory to focus on these high-turnover items, Harry Wexner refused to change the store's traditional approach. This disagreement proved to be a turning point: rather than continue arguing with his father, Leslie decided to open his own store that would put his merchandising theories into practice.

== Founding The Limited ==

=== Opening the first store ===

In 1963, Wexner borrowed $5,000 from his aunt, Ida Wexner, and matched it with a bank loan to start his own clothing store. He named the store "The Limited" to reflect its focused approach: rather than trying to be all things to all customers like traditional department stores, the shop would limit its merchandise to moderately priced sportswear items for young women—the high-turnover products Wexner had identified as most profitable.

The first Limited store opened on August 10, 1963, at the Kingsdale Shopping Center in [[Upper Arlington, Ohio]], a suburb of Columbus. The store offered a carefully curated selection of skirts, sweaters, and shirts at competitive prices. Unlike department stores that stocked everything from appliances to apparel, The Limited focused exclusively on fashionable women's clothing that would appeal to younger consumers.

Wexner set a goal of grossing $100,000 in the first year—an ambitious target for a new single-location retail store. The Limited exceeded this goal dramatically, generating $162,000 in sales during its first year of operation. The success validated Wexner's merchandising theories and demonstrated that focusing on a limited category of high-demand products could outperform traditional retail approaches.

=== Early growth ===

One year after The Limited opened, Wexner's parents closed their own store, Leslie's, and joined their son in running the new business. The family partnership proved effective, and The Limited began expanding.

Wexner sought ways to grow beyond Ohio, and a pivotal meeting with [[Alfred Taubman]], a real estate developer who specialized in shopping centers and malls, helped accelerate his expansion plans. Taubman taught Wexner the importance of attractive store design and optimal location selection. The two men developed a business relationship where Taubman provided Wexner with prime retail space in his malls.

By 1969, The Limited had grown to five stores, and Wexner decided to raise capital for future expansion by taking the company public. The [[initial public offering]] (IPO) provided the funds needed for aggressive growth.

The Limited's expansion accelerated rapidly through the 1970s. By 1976, Wexner had opened 100 Limited stores across the country. The company's success was built on a formula of fast fashion, efficient inventory management, and strategic mall locations. Wexner pioneered practices that would later become standard in specialty retail, including quick response to fashion trends and tight inventory control.

== Building a retail empire ==

=== Major acquisitions (1982) ===

The year 1982 marked a transformational period for Wexner and The Limited. In a single year, he made three major acquisitions that would reshape the company:

'''Lane Bryant:''' The Limited acquired the [[Lane Bryant]] chain of 222 stores, which specialized in plus-size women's clothing. Under Wexner's management, the chain grew to 360 stores by 1985.

'''Victoria's Secret:''' The most consequential acquisition was the purchase of [[Victoria's Secret]], a struggling San Francisco lingerie retailer, for approximately $1 million. The company had been founded in 1977 by Stanford graduate student Roy Raymond, who wanted to create a comfortable environment for men to buy lingerie for their wives. Raymond sold the five-store chain to Wexner in 1982 amid financial difficulties.

'''Roaman's:''' The Limited also acquired Roaman's, another women's apparel chain, during this busy acquisition year.

Additionally, The Limited was listed on the [[New York Stock Exchange]] in 1982, and the company's employee count reached 10,000.

=== Transforming Victoria's Secret ===

Wexner's acquisition and transformation of Victoria's Secret became the defining achievement of his retail career. He recognized that the company's concept—lingerie marketed in an appealing, upscale environment—had enormous untapped potential.

Under Wexner's leadership, Victoria's Secret underwent a complete reinvention. The stores were redesigned with Victorian-inspired furnishings, creating an atmosphere of refined elegance. Merchandise was displayed on padded hangers rather than in bins. The product line expanded from basic lingerie to include silk and lace items, fragrances, and beauty products.

Wexner also revolutionized the company's marketing. The Victoria's Secret catalog became a cultural phenomenon, distributed widely and serving as both a sales vehicle and brand-building tool. The imagery featured glamorous models in luxurious settings, positioning lingerie as an aspirational purchase.

Within ten years of Wexner's acquisition, Victoria's Secret had grown from a $1 million purchase into a billion-dollar brand. By 1992, the company was estimated to be worth $1 billion. The transformation represented one of the most successful brand turnarounds in retail history.

=== Continued expansion (1985-1990) ===

Wexner continued his aggressive acquisition strategy throughout the mid-to-late 1980s:

'''Lerner New York:''' In 1985, The Limited acquired the nearly bankrupt [[New York & Company|Lerner]] chain of 764 stores, which sold women's clothing at affordable prices. Wexner revitalized the chain and returned it to profitability.

'''Limited Express:''' Wexner launched [[Express, Inc.|Limited Express]] (later renamed Express), a chain targeting younger buyers with trendier fashion. The concept grew to 186 stores by the mid-1980s.

'''Henri Bendel:''' The company acquired [[Henri Bendel]], an upscale New York fashion specialty store, adding a luxury component to the portfolio.

'''Abercrombie & Fitch:''' In 1988, The Limited acquired [[Abercrombie & Fitch]], a storied but struggling outdoor and sporting goods retailer. Under Wexner's ownership, A&F was repositioned as a casual clothing brand targeting young adults, eventually becoming a cultural phenomenon.

'''Bath & Body Works:''' In 1990, the company acquired [[Bath & Body Works]], which would eventually become one of the most successful chains in the portfolio.

'''Penhaligon's:''' Also in 1990, The Limited purchased [[Penhaligon's]], a British perfume and luxury gift retailer, expanding into international markets.

=== Peak of the empire ===

The Limited's growth during the 1980s was extraordinary. Sales exceeded $1 billion in 1983, rose to $2 billion in 1985, $3 billion in 1986, $3.5 billion in 1987, and topped $4 billion in 1988.

By the start of the 21st century, Limited Brands (as the company had been renamed) comprised more than 4,000 stores across seven retail divisions. The portfolio included Victoria's Secret, Pink (Victoria's Secret's youth-oriented line), Bath & Body Works, Henri Bendel, The White Barn Candle Co., and other brands.

[[Fortune (magazine)|Fortune]] magazine ranked Limited Brands as the "World's Most Admired Company" in 2003, recognizing Wexner's innovativeness and quality of management.

=== Strategic divestitures ===

Wexner demonstrated a willingness to sell or spin off brands that were underperforming or no longer fit the company's strategic focus:

'''Abercrombie & Fitch:''' The company was spun off as an independent public company in 1998 after being successfully repositioned as a youth-oriented casual clothing brand.

'''Lane Bryant:''' Sold in 2001 to Charming Shoppes.

'''The Limited and Express:''' Wexner eventually divested the company's namesake brand, The Limited, and Express when they began struggling.

'''Henri Bendel:''' The luxury retailer was closed in 2019 after years of declining performance.

This willingness to shed underperforming assets, even brands with sentimental value, demonstrated Wexner's disciplined approach to portfolio management.

== Victoria's Secret Fashion Show ==

=== Creation and early history ===

In 1994, Wexner and [[Ed Razek]], L Brands' Chief Marketing Officer, conceived the idea of an annual fashion show to promote Victoria's Secret. The first Victoria's Secret Fashion Show was held in 1995 at the Plaza Hotel in New York City.

The early shows were relatively modest productions. There were no angel wings, and models primarily wore slips. However, the event evolved rapidly into an increasingly elaborate spectacle.

By 1998, the show had developed its signature elements. Models like [[Tyra Banks]] walked the runway wearing elaborate angel wings, which became inseparable from the Victoria's Secret brand identity. Karen Mulder had achieved "Angel" status in 1996, establishing the exclusive tier of Victoria's Secret models that would become aspirational figures.

=== Television broadcast era ===

The Victoria's Secret Fashion Show made its network television debut on [[American Broadcasting Company|ABC]] in 2001, becoming the first lingerie fashion show to be broadcast nationally. The premiere attracted 12.4 million viewers—the peak of the show's ratings.

From 2002 to 2017, the show was broadcast on [[CBS]], becoming an annual television event. The productions grew increasingly elaborate, featuring celebrity musical performances, custom-designed fantasy bras worth millions of dollars, and the world's most prominent supermodels.

The show served as the centerpiece of Victoria's Secret's marketing strategy, generating extensive media coverage and reinforcing the brand's glamorous image. The "Angels"—the elite group of Victoria's Secret models—became celebrities in their own right, with figures like [[Heidi Klum]], [[Gisele Bündchen]], [[Adriana Lima]], and [[Alessandra Ambrosio]] achieving global fame.

The show returned to ABC for its final edition in 2018.

=== Decline and cancellation ===

By the late 2010s, the Victoria's Secret Fashion Show faced growing challenges:

'''Declining viewership:''' Ratings fell dramatically from the 2001 peak. By 2018, only 3.2 million viewers watched the show—a steep decline from the more than 10 million viewers in 2011.

'''Changing consumer attitudes:''' The show's emphasis on a narrow standard of beauty increasingly conflicted with broader cultural movements toward body positivity and diversity. Critics argued that the "Angels" represented an unrealistic and exclusionary ideal.

'''Ed Razek controversy:''' In 2018, Ed Razek, who had helped create the fashion show, faced significant backlash for comments to [[Vogue (magazine)|Vogue]] stating that he did not think "transsexuals" should be included in the show. "Because the show is a fantasy," Razek told the magazine. "It's a 42-minute entertainment special." The comments sparked outrage and damaged the brand's image. Razek stepped down in August 2019.

'''Epstein scandal:''' Growing scrutiny of Les Wexner's relationship with [[Jeffrey Epstein]] cast a shadow over the brand and the show.

In November 2019, L Brands CFO Stuart Burgdoerfer officially confirmed that the fashion show had been canceled, citing declining viewership and lack of "material impact" on Victoria's Secret sales. The cancellation came amid the broader reckoning of the [[#MeToo movement|MeToo movement]] and [[fourth-wave feminism]].

=== Return in 2024 ===

After years of including more body-positive messaging and diverse models in its campaigns, Victoria's Secret announced the return of the fashion show in May 2024. The revamped show, held in October 2024, featured a more inclusive cast and updated aesthetic, reflecting the brand's efforts to reinvent itself.

== Relationship with Jeffrey Epstein ==

=== Meeting and early relationship ===

The most damaging aspect of Les Wexner's legacy is his decades-long relationship with [[Jeffrey Epstein]], the American financier and convicted [[sex offender]] who died by [[suicide]] in 2019 while awaiting trial on [[sex trafficking]] charges.

Epstein, a former prep school teacher who had entered the finance world and cultivated a reputation as an astute money manager for the ultra-wealthy, met Wexner in the mid-1980s through mutual friends. The two men forged an unusually close relationship.

In 1987, Wexner hired Epstein as his financial manager. Epstein claimed to work only with clients whose net worth exceeded one billion dollars, and Wexner became his primary client. The arrangement lasted until 2007.

=== Power of attorney and financial control ===

In July 1991, Wexner granted Epstein "unlimited" [[power of attorney]], an extraordinary level of control to give to a financial advisor. According to [[Vanity Fair (magazine)|Vanity Fair]], this authority allowed Epstein to hire people, sign tax returns, and move millions of dollars without Wexner's direct approval—effectively making Epstein the shadow manager of Wexner's fortune.

Wexner also installed Epstein as a trustee on the board of the [[Wexner Foundation]] in 1992, a position Epstein held until 2007.

=== The Manhattan mansion ===

One of the most scrutinized aspects of the Wexner-Epstein relationship involves a palatial mansion located at 9 East 71st Street on Manhattan's [[Upper East Side]].

According to property records, Wexner purchased the approximately 51,000-square-foot property through a company he owned in 1989 for $13.2 million. It was one of the largest private residences in [[New York City]].

Epstein told [[The New York Times]] in 1996 that "Les never spent more than two months there." A Wexner spokesperson later stated that Wexner "never resided at the residence." By 1998, ownership had been transferred to a company controlled by Epstein.

According to [[Bloomberg News|Bloomberg]] investigations, by 2011 the property was transferred to an Epstein-controlled trust for effectively $0—an arrangement that raised significant questions about the true nature of their financial relationship. The mansion later became notorious as a location where Epstein allegedly committed sexual abuse.

=== Victoria's Secret connection ===

Multiple reports have alleged that Epstein used his relationship with Wexner to exploit young women by posing as a Victoria's Secret talent scout.

Cindy Fedus-Fields, who ran Victoria's Secret's catalog division from 1986 to 2000, stated that in 1993 another female executive told her that Epstein was posing as a Victoria's Secret recruiter. According to Fedus-Fields, that executive confronted Wexner, who said he would "put a stop to it." A statement from Wexner's attorney said Wexner confronted Epstein about this matter, but Epstein denied the accusation.

The 2022 Hulu documentary "Victoria's Secret: Angels and Demons" explored the alleged connections between Epstein's predatory behavior and his association with Wexner and the lingerie brand.

=== End of the relationship and financial claims ===

Wexner claims to have severed ties with Epstein in 2007, amid the first federal investigation into Epstein's sexual crimes. Wexner has maintained that he had no knowledge of Epstein's sexual predation prior to that investigation.

In 2019, after Epstein's arrest on federal sex trafficking charges, Wexner disclosed in a letter to the Wexner Foundation that Epstein had "misappropriated vast sums" from his personal fortune more than a decade earlier. Wexner revealed that a $46 million donation in 2008 from Epstein to a foundation run by Wexner's wife Abigail represented only "a portion" of the funds he had recovered from Epstein.

Notably, despite alleging that Epstein had stolen tens of millions of dollars, Wexner never sued Epstein. The New York Times and other publications have noted this unusual restraint, which has fueled speculation about the true nature of their relationship and financial dealings.

=== Wexner's statements ===

Wexner has condemned Epstein's crimes as "abhorrent" and has said he was "used" by Epstein. He has consistently denied any knowledge of Epstein's criminal activities.

In August 2019, following Epstein's suicide in jail, Wexner addressed employees at L Brands' headquarters. He expressed shock and disgust at Epstein's alleged crimes and regret for his association with him.

However, Wexner has resisted calls to provide a full accounting of his financial relationship with Epstein or to testify publicly about the matter. His refusal to reveal the full scope of Epstein's alleged financial misconduct has drawn criticism from victims' advocates and investigative journalists.

=== Epstein court documents ===

Wexner's name has appeared in various court documents released as part of lawsuits related to Epstein's victims. In January 2024, newly unsealed Epstein court documents mentioned Wexner, reigniting public interest in the nature of their relationship.

Ohio State University alumni have staged protests displaying photos of Wexner with Epstein and demanding that Wexner provide testimony about his relationship with the convicted sex offender.

== Departure from L Brands ==

=== Stepping down ===

In February 2020, amid ongoing scrutiny over his Epstein ties, Les Wexner announced he would step down as chairman and CEO of L Brands. The announcement came after nearly six decades at the helm of the company he had founded.

The departure coincided with an announcement that L Brands would sell a majority stake in Victoria's Secret to private equity firm [[Sycamore Partners]] for $525 million. However, that deal collapsed during the [[COVID-19 pandemic]], with Sycamore citing material adverse changes in Victoria's Secret's business.

Wexner retained the title of chairman emeritus of the corporation, maintaining an advisory role without day-to-day management responsibilities.

=== Company split ===

In 2021, L Brands completed a separation into two independent public companies:

'''Victoria's Secret & Co.:''' The lingerie business was spun off as an independent public company, comprising the Victoria's Secret and Pink brands.

'''Bath & Body Works, Inc.:''' The remaining company kept the Bath & Body Works retail business and adopted that brand as its corporate name.

Wexner serves as chair emeritus of Bath & Body Works, Inc., maintaining a connection to the company he built over nearly six decades.

== Personal life ==

=== Marriage and family ===

Wexner remained a bachelor until his mid-fifties. On January 23, 1993, at age 55, he married Abigail Koppel, who was 31 years old at the time. Abigail Koppel Wexner is a lawyer and philanthropist who has played an increasingly prominent role in the family's charitable activities.

The couple has four children: Sarah Wexner, David Wexner, Harry Wexner (named after Les's father), and Hannah Wexner.

Abigail Wexner serves as chairman of the board of the Wexner Foundation and has led numerous philanthropic initiatives. She organized the Annual New Albany Classic Invitational Grand Prix & Family Day, a professional show-jumping competition held at the Wexner estate that benefited charity for 20 years before ending in 2018.

=== New Albany estate ===

The Wexner family resides in a spectacular Georgian-inspired estate in [[New Albany, Ohio]], an affluent community east of Columbus that Wexner himself helped develop through his New Albany Company.

The estate spans approximately 336 acres and includes:
* A 45,000-square-foot Georgian-style main house with 30 rooms, built in 1990
* Indoor pool and tennis courts
* Guest homes
* Equestrian facilities

The property is valued at approximately $47 million and is considered one of the largest and most valuable private estates in Ohio.

=== Other properties ===

Beyond his New Albany estate, Wexner owns additional significant properties:

'''Land holdings:''' Through his New Albany Company, Wexner owns more than 3,200 acres across Central Ohio, valued at an estimated $950 million.

'''Foxcote House:''' Wexner owns Foxcote House, an 18th-century estate in [[Warwickshire]], [[England]].

'''Superyacht:''' The Wexner family owns [[MY Limitless|Limitless]], a 315-foot superyacht that is one of the largest privately owned yachts in the world. The vessel, named after Wexner's company, was built by [[Lürssen]] and launched in 1997.

== Philanthropy ==

=== Overview ===

Les Wexner has donated more than $500 million to charitable causes over his career. His philanthropy has focused primarily on leadership development, education, Jewish community organizations, healthcare, and cultural institutions.

=== Wexner Foundation ===

The centerpiece of Wexner's philanthropy is the [[Wexner Foundation]], which he established in 1983 with a focus on developing Jewish professional and volunteer leaders in North America and public leaders in Israel.

The foundation is headquartered in New Albany, Ohio, with additional offices in New York City and Jerusalem.

Key programs include:

'''Wexner Heritage Program:''' Created to strengthen volunteer leaders in the North American Jewish community, this two-year intensive Jewish learning program has trained more than 2,300 leaders from 35 cities.

'''Wexner Israel Fellowship:''' Established in 1989 as a partnership with [[Harvard University]]'s [[John F. Kennedy School of Government]], this program annually selected up to 10 Israeli public officials or nonprofit leaders for graduate study at Harvard. The program ended in 2024.

'''Wexner Graduate Fellowship:''' Supports future Jewish professional leaders pursuing graduate studies.

Since 1985, the Wexner Foundation has invested hundreds of millions of dollars in leadership development, supporting the training of approximately 3,000 Wexner Fellows and Members.

In October 2023, the Wexner Foundation announced it was severing ties with Harvard University due to dissatisfaction with how the university responded to [[antisemitism]] and Jewish concerns on campus following the [[2023 Hamas-led attack on Israel|October 7, 2023 Hamas massacre]].

It should be noted that Jeffrey Epstein served as a trustee of the Wexner Foundation from 1992 to 2007, a connection that has drawn scrutiny in light of Epstein's crimes.

=== Ohio State University ===

Wexner has been one of the largest donors in [[Ohio State University]]'s history:

'''$100 million commitment (2011):''' In February 2011, Wexner pledged $100 million to Ohio State, including $65 million from Wexner personally and $35 million from the Limited Brands Foundation. The gift primarily benefited the Ohio State University Medical Center and the Arthur G. James Cancer Hospital and Solove Research Institute.

'''Wexner Medical Center:''' In recognition of this gift, Ohio State's medical center was renamed the [[Ohio State University Wexner Medical Center]] in 2012. The medical center has been consistently ranked among the best hospitals in the nation by [[U.S. News & World Report]].

'''Wexner Center for the Arts:''' Wexner funded the construction of the [[Wexner Center for the Arts]], a contemporary art museum and performing arts center on the Ohio State campus. The center, designed by [[Peter Eisenman]], opened in 1989 and is named in honor of Wexner's father, Harry.

'''Board service:''' Wexner served on Ohio State's Board of Trustees from 1988 to 1997, was appointed to a second term in 2005, and served as chairman of the board from 2009 to 2012.

Total giving: With the 2011 announcement, the Wexner family and Limited Brands Foundation had given, raised, or pledged nearly $200 million to Ohio State.

=== Other philanthropy ===

'''Harvard University:''' Wexner has supported the Center for Public Leadership at Harvard's Kennedy School.

'''Nationwide Children's Hospital:''' Major supporter of pediatric healthcare in Columbus.

'''Columbus Jewish Federation:''' Significant contributions to the Jewish community in Columbus.

'''National Veterans Memorial and Museum:''' Supporter of this Columbus institution honoring veterans.

'''The Columbus Partnership:''' Active in civic leadership organizations working to improve the Columbus region.

== Net worth and investments ==

=== Wealth from retail ===

Wexner built his initial fortune through The Limited and its successor companies. At various points, he was ranked among the wealthiest Americans, with Forbes listing him as the richest person in Ohio for many years.

His holdings in L Brands and later Bath & Body Works have fluctuated with those companies' stock prices. The Victoria's Secret brand, in particular, experienced significant declines in value during the late 2010s before being spun off.

=== CoreWeave investment ===

A pivotal investment has dramatically increased Wexner's net worth in recent years. In 2017, a trust established for the benefit of Wexner's four children invested approximately $1.6 million in [[CoreWeave]], an early-stage [[artificial intelligence]] cloud computing company, over two investment rounds. The initial investment was approximately $1 million in 2019, with an additional $600,000 in CoreWeave's Series A funding round in 2021.

CoreWeave went public in March 2025, and its valuation subsequently tripled. Wexner controls approximately a 5% stake in CoreWeave through the Linden West Trust, according to regulatory filings.

By mid-2025, the CoreWeave investment alone was worth nearly $3 billion, representing one of the most successful early-stage investments by any individual investor.

The Wexner family's stake in CoreWeave was discovered through a May 2024 lawsuit filed by wealth management firm Florence Capital Advisors, which claimed it was owed approximately $7 million in fees for advising Wexner's family trust to invest in CoreWeave.

=== Current net worth ===

As of July 2025, Forbes estimates Les Wexner's net worth at $10.1 billion, up significantly from $7.9 billion in 2024. The increase was driven primarily by the appreciation of his CoreWeave stake.

In 2025, the Wexner family ranked at No. 137 on the Forbes 400 list of wealthiest Americans. Wexner remains the wealthiest person in Ohio by a significant margin.

== Legacy and recognition ==

=== Retail legacy ===

Les Wexner's impact on American retail is difficult to overstate. Over nearly six decades, he:

* Pioneered the specialty retail concept, demonstrating that focused stores outperform general merchandisers
* Transformed Victoria's Secret from a $1 million acquisition into a multi-billion-dollar global brand
* Built a portfolio of retail brands that at its peak included more than 4,000 stores
* Created the Victoria's Secret Fashion Show, which became a cultural phenomenon
* Demonstrated the power of strategic acquisitions and divestitures in building retail value
* Proved that retailers could successfully reposition struggling brands

Fortune magazine recognized Limited Brands as the "World's Most Admired Company" in 2003, acknowledging Wexner's management and innovation.

=== Tarnished reputation ===

However, Wexner's legacy has been significantly damaged by his association with Jeffrey Epstein. The revelations about their relationship—the unlimited power of attorney, the Manhattan mansion transfer, Epstein's position on the Wexner Foundation board, and allegations that Epstein posed as a Victoria's Secret talent scout—have cast a permanent shadow over Wexner's achievements.

His refusal to provide a complete public accounting of his relationship with Epstein or to testify about the matter has frustrated victims' advocates and damaged his standing in the philanthropic community.

=== Continued impact ===

Despite the controversies, Wexner's philanthropic legacy continues through the Wexner Foundation's leadership programs and his contributions to Ohio State University. The Wexner Medical Center remains one of the nation's leading academic medical centers, and thousands of Jewish and Israeli leaders have benefited from Wexner Foundation programs.

Bath & Body Works, the company that carries forward his retail legacy, remains a successful business generating billions in annual revenue.

== See also ==
* [[L Brands]]
* [[Victoria's Secret]]
* [[Bath & Body Works]]
* [[The Limited]]
* [[Abercrombie & Fitch]]
* [[Jeffrey Epstein]]
* [[Ohio State University Wexner Medical Center]]
* [[Wexner Foundation]]
* [[Wexner Center for the Arts]]
* [[Specialty retailing]]

== References ==
{{Reflist}}

== External links ==
* [https://www.bbwinc.com Bath & Body Works, Inc. official website]
* [https://www.wexnerfoundation.org Wexner Foundation official website]
* [https://wexnermedical.osu.edu Ohio State University Wexner Medical Center]
* [https://wexarts.org Wexner Center for the Arts]

{{Authority control}}

{{DEFAULTSORT:Wexner, Les}}
[[Category:1937 births]]
[[Category:Living people]]
[[Category:American billionaires]]
[[Category:American retail chief executives]]
[[Category:American company founders]]
[[Category:American philanthropists]]
[[Category:American people of Russian-Jewish descent]]
[[Category:Ohio State University alumni]]
[[Category:People from Dayton, Ohio]]
[[Category:People from Columbus, Ohio]]
[[Category:People from New Albany, Ohio]]
[[Category:Victoria's Secret]]
[[Category:Businesspeople from Ohio]]
[[Category:Jewish American philanthropists]]
[[Category:Chief executive officers]]