Pier Luigi Loro Piana was bornon 1951 in Milan, Italy, Italy. Pier Luigi Loro Piana is #1490 in List Billionaires People In The World. Pier Luigi Loro Piana and his brother Sergio sold an 80% stake in the Loro Piana fashion line to French billionaire Bernard Arnault's LVMH for $2.6 billion in 2013. Sergio died in late 2013; Pier Luigi still has an estimated 10% stake in the clothing firm. The Loro Piana family began trading wool in the early 1800s, and Pier Luigi's grandfather Pietro started the high-end clothing company in 1924. His father Franco began selling outside of Italy in the 1940s, and Pier Luigi and his brother took the brand worldwide. They pride themselves on premium fabrics, which include cashmere from baby goats in northern China and Mongolia, fur from vicuna in the Andes and fleece from a specific breed of sheep in New Zealand. The brand's women's jackets sell for as much as $9,900. As a hobby, Pier Luigi hosts the annual Loro Piana Superyacht Regatta; his 84-foot yacht, My Song, competes against some of the world's most recognized superyachts.