With the net worth of $200 Million, George Zimmer is the #1865 richest person on earth all the time in our database.
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He earned a degree in Economics from Washington University in St. Louis in 1970.
Zimmer was born to a Jewish family in New York City. He attended primary school in Scarsdale, New York, before studying at Washington University in St. Louis where he was a member of the phi chapter of Sigma Alpha Mu, and where he earned a bachelor's degree in economics in 1970. Upon graduation, he worked as a substitute teacher before joining his father in the clothing manufacturing business. Later in the early 1970s, he worked as a purchasing agent and salesman in Hong Kong and Dallas.
Robert Elkin Zimmer started his own manufacturing company Royalad Apparel which he later expanded into Zimco Industries. In 1973, Robert Elkin Zimmer and his son, George Zimmer, co-founded The Mens Wearhouse in Houston, Texas. George Zimmer and his college roommates opened the first Men's Wearhouse store in 1973 in Houston. Beginning in 1986, Zimmer narrated and appeared in many of his company's television commercials, usually closing with the company slogan: "You're going to like the way you look. I guarantee it."
As of a May 9, 2013 proxy filing, Zimmer owned 1.8 million shares of Men's Wearhouse stock, a stake in the company of approximately 3.5 percent. The day prior to his June 19 firing Men's Wearhouse stock closed at $37.47, indicating a value of Zimmer's holdings in the company of $67.45 million. The company made $2.48 billion in sales for the fiscal year ending in February 2013.
On June 19, 2013, The Men's Wearhouse board dismissed Zimmer for unspecified reasons and declined to offer any explanation in its press release. The press release stated that terms of Zimmer's severance were still to be discussed with him.
On June 25, 2013, the company, responding to public pressure for more information following its terse original statement, released a detailed explanation of its actions. The statement asserts that Zimmer insisted on full-control of the public company. "Neither the board nor management desired a total breakdown of the relationship between Mr. Zimmer and the company. In our discussions with Mr. Zimmer, we made considerable efforts to find a solution that would have allowed him to continue to have a significant involvement with Men's Wearhouse. Unfortunately, Mr. Zimmer wouldn't accept anything other than full control of the company and the board was left with no choice but to terminate him as Executive chairman."
Citing the need to "bring the age-old tradition of tailoring into the modern day," Zimmer founded zTailors, "an on-demand personal tailoring service that gives everyone an opportunity to look their best with just a tap of their smartphone," launching publicly in June 2015. Zimmer is the chairman and CEO of zTailors.
Stating a belief that "every aspect of this hallmark experience can be drastically improved," Zimmer founded Generation Tux, "the ultimate high tech, high touch clothing rental experience for the next generation," launching publicly in September 2015. Zimmer is the chairman and CEO of Generation Tux.
Currently, George Zimmer is 72 years old. George Zimmer will celebrate 73rd birthday on Sunday, November 21, 2021.
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