Hola! Fashion designer Michael Kors just joined the billionaire’s club. Yesterday shares of his company, Michael Kors Holdings Ltd. (KORS) rose 17.3 percent to close at $89.91 the highest in almost two years. The newfound billionaire owns about 2 percent of the company which values at about $390 million. Bloomberg’s data states that “Kors has collected more than $700 million selling stock since its initial public offering in 2011”. Now that is some serious coin!
The sales of his handbags, watches, and footwear are keeping Michael Kors on top! I wish his business nothing but the best, however keep a watchful eye on stocks because we all know what goes up must come down. Thoughts?