Meet Fashion Nova CEO Richard Saghian, owner of the largest fashion house in the US

• Richard Saghian is best known as the fashion mogul behind Fashion Nova, but he’s also won expensive real estate.
• Within a year, he bought a $40 million home on Malibu’s “Billionaire Beach” and paid $126 million for the largest modern home in the US.
• Here’s a look at his life and career.

Richard Saghian is best known as the founder and CEO of fast-fashion company Fashion Nova, but he’s also amassed some record-breaking real estate.

The billionaire executive paid $40 million for a 6,000-square-foot home on Malibu’s “Billionaire Beach,” The Real Deal reported.

Less than a year earlier, Saghian bid $126 million at auction for a megamansion in Los Angeles. Nicknamed “The One,” the 105,000-square-foot property is billed as the largest modern home in the US. Factoring in the auction premium and commissions, he ended up paying closer to $141 million for the home.