Welcome to the Billionaire Boys Club, Tory Burch!
Tory Burch, dearly departed pride of the Main Line, and fashion designer of choice for aspiring billionaire women, is leaving her base clientele behind. This March, Burch will land on the Forbes 2013 Billionaire list, making her the second-youngest woman ever to do so, behind the founder of Spanx (Spanx!). Gentlemen, if you don’t recognize her name, you’ll recognize her most famous product–the UGGS of ballet flats. She owes her newfound status to the legal agreement handed down on Jan. 1 to settle a longstanding dispute with her ex-husband, whom she accused of ripping off her brand. Following that settlement, Chris Burch sold off most of his 28% stake in the company, which ended up pushing Tory’s share, valued at $919 million, past the billion mark. [Forbes]