Few American retail executives have lived such a dramatic arc: Les Wexner built a fortune worth billions by turning Victoria’s Secret into a global phenomenon, only to see his legacy overshadowed by a decades‑long association with convicted sex offender Jeffrey Epstein. In 2026, he sat before Congress and admitted Epstein had stolen “vast sums” from him while the FBI reportedly identified Wexner as a co‑conspirator. This article traces the wealth, the political ties, and the controversies that define one of retail’s most enigmatic figures.
Born: September 8, 1937 ·
Net worth (Forbes 2026): $8.9 billion ·
Founded: L Brands (Victoria’s Secret, Bath & Body Works) ·
Political affiliation: Republican ·
Philanthropy: Major donor to Ohio State University ·
Notable controversy: Ties to Jeffrey Epstein
Quick snapshot
- Founder of L Brands (Forbes (billionaire ranking))
- Net worth above $8.9 billion (Forbes (Epstein files report))
- Registered Republican (BBC News (congressional coverage))
- Testified before Congress in February 2026 (PBS NewsHour (full deposition))
- Full extent of Epstein’s influence on business decisions (BBC News (congressional coverage))
- Whether Wexner knew of Epstein’s crimes before 2019 (BBC News (congressional coverage))
- Exact amount Epstein stole from Wexner (BBC News (congressional coverage))
- 1963: Opened first The Limited store (Forbes (billionaire ranking))
- 1982: Acquired Victoria’s Secret (Forbes (billionaire ranking))
- 2026: Testified before Congress (BBC News (congressional coverage))
- Further congressional investigations possible (PBS NewsHour (full deposition))
- Wexner continues philanthropy via the Wexner Foundation (BBC News (congressional coverage))
- Reputation remains under scrutiny (Axios (local Columbus coverage))
The table below summarizes the essential biographical details about Les Wexner.
| Full name | Leslie Herbert Wexner |
| Born | September 8, 1937 (Dayton, Ohio) |
| Spouse | Abigail Koppel (m. 1993) |
| Children | 4 |
| Net worth | $8.9 billion (Forbes, 2026) |
| Known for | Founder of L Brands (Victoria’s Secret, Bath & Body Works) |
| Political affiliation | Republican |
How does Les Wexner make his money?
Founding of L Brands
- In 1963, Wexner opened the first The Limited store in Columbus, Ohio (Forbes (billionaire ranking)). The concept – small, focused women’s clothing shops – grew into a national chain.
- Over the next decades he acquired and launched brands that would become household names.
Role of Victoria’s Secret and Bath & Body Works
- In 1982, Wexner bought the then‑struggling Victoria’s Secret for about $1 million (Forbes (billionaire ranking)). He repositioned it as a mall‑based lingerie powerhouse.
- Bath & Body Works launched in 1990 and became his second billion‑dollar brand, selling toiletries and candles.
- Together, these chains formed the backbone of L Brands, which Wexner led until 2020.
Real estate investments
- Wexner also owned commercial real estate, including the flagship Victoria’s Secret location in New York and investments in Ohio properties.
- More recently, Forbes reported that a stake in the AI firm CoreWeave helped boost his net worth to $10.1 billion in mid‑2025 (Forbes (CoreWeave coverage)).
Bottom line: Wexner’s fortune derives almost entirely from specialty retail. The sale of L Brands to Sycamore Partners in 2020 peeled away Victoria’s Secret, but his wealth has since rebounded, partly thanks to an early bet on an AI startup.
What is Les Wexner doing now?
Retirement from L Brands
- Wexner stepped down as CEO of L Brands in 2020 and resigned as chairman that same year (Forbes (resignation context)). He retained the title of chairman emeritus until 2021.
- Since then he has been a private investor and philanthropist.
Philanthropic focus
- Through the Wexner Foundation, he has donated heavily to Ohio State University, including the Wexner Medical Center (Forbes (philanthropy note)).
- His giving also supports leadership programs in Israel and the United States.
Legal and congressional testimony
- In February 2026, Wexner testified under oath before the House Judiciary Committee about his relationship with Jeffrey Epstein (PBS NewsHour (full deposition)).
- He told lawmakers he was “naive, foolish, and gullible” and that Epstein stole “vast sums” from him (BBC News (congressional coverage)).
Wexner’s post‑retirement life is a study in contrasts: a billionaire who built a retail empire yet must now defend his judgment publicly. The same man who funded medical research at Ohio State also stands accused in court documents of having enabled a predator.
The paradox underscores the tension between his philanthropy and the allegations that continue to follow him.
What is Les Wexner’s political affiliation?
Party registration and donations
- Wexner is a registered Republican and has consistently donated to Republican candidates and committees (BBC News (political donations)).
- Records show contributions to the National Republican Senatorial Committee and various GOP incumbents.
Support for Donald Trump
- He supported Donald Trump’s presidential campaigns in 2016 and 2020, contributing to joint fundraising committees (Newsweek (political giving analysis)).
- Wexner also hosted fundraisers at his Ohio estate.
Political activism
- Beyond national politics, Wexner has donated to Ohio state‑level Republican candidates and causes.
- His philanthropy to Ohio State University, while non‑partisan, has given him influence in state education politics.
What this means: Wexner’s political activities align with his business interests – he has used his wealth to shape policy at both the federal and state levels. The Epstein scandal has not publicly altered his party affiliation or donor behavior.
What is Les Wexner’s net worth and personal background?
Biography and early life
- Leslie Herbert Wexner was born on September 8, 1937 in Dayton, Ohio (Forbes (billionaire ranking)).
- He graduated from Ohio State University with a degree in business administration.
Family: wife and children
- He married Abigail Koppel in 1993; they have four children together (Forbes (billionaire ranking)).
- The family resides in New Albany, Ohio, in a mansion modeled on a French château.
Net worth fluctuations
- Forbes estimated Wexner’s net worth at $7.9 billion in 2024, then $9.3 billion in 2025, and $8.9 billion in real‑time 2026 (Columbus Business First (Forbes list); Forbes (CoreWeave coverage)).
- The volatility reflects both stock portfolio moves and the impact of the Epstein scandal on his reputation.
Five items, one pattern: Wexner’s wealth has always been tied to consumer retail, but his 2025 gains from an AI investment show he is diversifying. The core, however, remains the brands he built.
What controversies has Les Wexner faced?
Association with Jeffrey Epstein
- Epstein served as Wexner’s financial adviser and trustee from the mid‑1980s (Forbes (Epstein files report)).
- Wexner gave Epstein control over his finances and allowed him to use his private jet; the relationship lasted until 2007 when Wexner said he discovered misappropriated funds (Yahoo Finance (timeline)).
Allegations of enabling Epstein
- A 2019 FBI memorandum identified Wexner as a co‑conspirator alongside other redacted names (Forbes (Epstein files report)).
- PBS reported that Wexner’s name appears over 1,000 times in the Epstein documents (PBS NewsHour (document count)).
- Ghislaine Maxwell, Epstein’s associate, referred to Wexner as Epstein’s “closest friend” (Axios (Maxwell quote)).
Congressional testimony
- Wexner testified before Congress in February 2026, saying he was “tricked by a world‑class con artist” and denied any knowledge of Epstein’s crimes (PBS NewsHour (full deposition)).
- He has never faced criminal charges related to Epstein (BBC News (no charges)).
Wexner’s defense – that he was duped by a master manipulator – is plausible but incomplete. The sheer volume of his involvement with Epstein (financial trustee, close confidant, co‑conspirator label in an FBI memo) means the public and lawmakers will continue to press for more answers.
The catch highlights the enduring questions that Wexner has yet to fully resolve.
Timeline of key events
The following timeline traces the major milestones in Wexner’s life and career.
| Year | Event |
|---|---|
| 1937 | Born in Dayton, Ohio (Forbes (billionaire ranking)) |
| 1963 | Opened first The Limited store (Forbes (billionaire ranking)) |
| 1982 | Acquired Victoria’s Secret (Forbes (billionaire ranking)) |
| 1990 | Launched Bath & Body Works (Forbes (billionaire ranking)) |
| 1990s–2000s | Close relationship with Jeffrey Epstein (Yahoo Finance (timeline)) |
| 2019 | Epstein arrested; Wexner distances himself (Forbes (Epstein files report)) |
| 2020 | Stepped down as CEO; L Brands sold to Sycamore Partners (Forbes (resignation context)) |
| 2026 | Testified before Congress about Epstein’s theft (BBC News (congressional coverage)) |
Confirmed facts vs. what is unclear
Confirmed facts
- Wexner founded L Brands and built Victoria’s Secret into a global brand (Forbes (billionaire ranking))
- He is a Republican and donated to Donald Trump (Newsweek (political giving analysis))
- He had a close financial relationship with Jeffrey Epstein (Forbes (Epstein files report))
- He testified before Congress in February 2026 (PBS NewsHour (full deposition))
What is unclear
- Full extent of Epstein’s influence on business decisions (Forbes (Epstein files report))
- Whether Wexner knew about Epstein’s crimes before 2019 (BBC News (congressional coverage))
- Exact amount of money Epstein stole from Wexner (BBC News (congressional coverage))
“I was naive, foolish, and gullible. I trusted him completely, and he stole vast sums of money from me.”
– Les Wexner, congressional testimony, February 2026 (BBC News (congressional coverage))
“Wexner’s name appears more than 1,000 times in the Epstein documents, showing a relationship that went far beyond financial advice.”
– PBS NewsHour analysis (PBS NewsHour (document count))
“Ghislaine Maxwell described Wexner as Epstein’s ‘closest friend’.”
– Axios report on Maxwell statement (Axios (local Columbus coverage))
For Les Wexner, the legacy is written in two acts: the first a retail empire that reshaped American shopping, the second a reckoning with a relationship that cost him far more than the “vast sums” Epstein took. The congressional testimony bought him time, but as the FBI memo and court documents continue to surface, the gap between what he knew and what he admits erodes. For the American public, the choice is clear: accept Wexner’s account of a naive billionaire duped by a master manipulator, or press for a deeper accounting of how a convicted sex offender gained such intimate control over one of the country’s wealthiest businessmen.
For a more detailed biography of Les Wexner, including his early career and the full scope of the Epstein scandal, see detailed biography of Les Wexner.
Frequently asked questions
Is Les Wexner still alive?
Yes, Les Wexner is alive as of 2026. He was born September 8, 1937, making him 89 years old.
What is Les Wexner’s relationship with Abigail Koppel?
Abigail Koppel married Wexner in 1993. She is a former attorney and the couple have four children together (Forbes (billionaire ranking)).
How did Les Wexner meet Jeffrey Epstein?
Wexner met Epstein in the mid‑1980s through a mutual acquaintance. Epstein later became his personal financial adviser and trustee (Forbes (Epstein files report)).
Does Les Wexner still own Victoria’s Secret?
No. Wexner sold L Brands (which owned Victoria’s Secret) to Sycamore Partners in 2020 and stepped down as CEO (Forbes (resignation context)).
What is the Wexner Foundation?
The Wexner Foundation is a philanthropic organization that funds leadership programs in Israel and the United States, and supports Ohio State University, including the Wexner Medical Center (Forbes (philanthropy note)).
How much did Les Wexner donate to Ohio State University?
Wexner has donated more than $500 million to Ohio State University over several decades, making him one of its largest benefactors (Forbes (billionaire ranking)).
What happened to Les Wexner’s wealth after the Epstein scandal?
Wexner’s net worth dipped to about $7.9 billion in 2024 but rebounded to $9.3 billion in 2025 and stood at $8.9 billion in early 2026, partly due to gains from an AI investment (Forbes (CoreWeave coverage)).
For more on wealthy financiers with controversial legacies, see our profile of J.P. Morgan: Biography, Bank, Controversies & Wealth.
Wexner’s political donations mirror the trajectory of Mark Carney: From Banker to Canada’s Prime Minister.
Victoria Hayes is Editor-in-Chief at Aussie Wire Hub, overseeing editorial standards, publication decisions and corrections.