A Growing Real Estate Portfolio
Saghian has a history of major real estate acquisitions. In March 2022, he purchased "The One"—a massive 105,000-square-foot Bel-Air megamansion built by developer Nile Niami—at a bankruptcy auction for $126 million, reaching a total of approximately $141 million with the buyer's premium. His subsequent purchases include two neighboring Miami Beach houses for $30 million in October 2024 and a 13,000-square-foot Beverly Hills-adjacent home for $32 million in June 2025. Additionally, he invested $118 million in August 2024 to buy a Beverly Hills office building for Fashion Nova's headquarters.
From Instagram Marketing to Billionaire Status
Saghian launched Fashion Nova in 2006 following a college dropout, starting with a physical store in Los Angeles before building the brand into a major U.S. online fast-fashion giant. The company achieved substantial growth by leveraging Instagram influencers and celebrity partnerships, such as collaborations with rapper Cardi B. Today, Fashion Nova generates about $2 billion in annual sales, helping drive Saghian's estimated net worth to $2.1 billion.
