Two years ago Silver Lake resident and American Apparel CEO Dov Charney sat on a pile of company stock worth an estimated $200 million at the time, making him perhaps the most richest resident living between Silver Lake and East Los Angeles. Since then, American Apparel and Charney have endured some tough times, with talk of a bankruptcy filing earlier this year. Still, Charney – who moved out of an Echo Park bungalow in 2006 after buying Silver Lake’s former Hathaway Estate for $4.1 million – has staged several come backs to retain control of the company. In fact, on Thursday, the Los Angeles Business Journal reported that Charney had increased his stake in company to 39.3 million shares. That stock, based on this morning’s share price, is worth $54.2 million. That’s quite a come down from $200 million but still enough to buy more than 2 million pairs of American Apparel Cotton-Spandex leggings.
Photo courtesy American Apparel