Jay Buys’s wife changed his life with 10 words: “You know, you don’t have to just wear band T-shirts.”
Shirts from Nine Inch Nails and Thrice—for years, this was the bulk of Buys’s wardrobe. Were they awesome ? Yes. Did they make him look like the CEO of a successful web design firm? Not quite. “If I looked better, I would’ve felt better,” said Buys, 44, of San Diego. So he hired someone to teach him to look better.
For most, the term “stylist” brings to mind a celebrity dresser putting Timothée Chalamet in a bombastic red carpet outfit. But there is also an industry of white-collar stylists helping hapless corporate types find the right shirts and trousers for their daily lives.
For Buys, that guy was Patrick Kenger.
Kenger runs Pivot, a personal styling service, charging as much as $5,000 to remake your wardrobe. Kenger’s job is part Marie Kondo, part therapist and large part a personal shopper. He helped Buys retire the band tees at work, subbing them with Suitsupply blazers and Bonobos trousers.
The switch had a Superman-bursting-out-of-the-phone-booth effect on Buys. “I look like I know what I’m doing.” Strangers seem to think so, too. He was startled when a random 20-something at the grocery store saw his leather John Varvatos jacket and chirped, “I like your drip, bro!”
Today, strivers in tech, law and finance are wealthier than ever, but corporate dress codes have collapsed. The hoodie-clad billionaire has become a cliché. In the C-suite, Loro Piana sneakers have trounced dress shoes. Fleece vests have vanquished ties. At the same time, we’re in a new era of boardroom boasting.
Executives crow about their pay packages, their workout routines (looking at you Mark Zuckerberg!) and the rarity of their sneakers. To look like you haven’t bought new clothes since we all clutched BlackBerrys is to risk being lapped on the corporate ladder.
So, if you’re sitting there confidently dressed and accepting compliments on how well your pants fit, congrats! But there are many men who lack the skills to piece an outfit together. Stylists say their work has ballooned in the past decade as the range of options on what’s office “appropriate” has waylaid even confident corporate leaders.
“Men are very confused right now with the dress codes that have blurred the lines of formality,” said Jacci Jaye, a white-collar stylist in New York City for two decades, whose services start at $3,800 plus expenses. Jaye, who works solely with executives, said that many of her roughly 50 clients knew what they liked in terms of style, but had no idea how to achieve that look.
“I looked sloppy and I didn’t want to look sloppy,” said Raj Nangunoori, 36, a neurosurgeon in Austin. He spent working hours in scrubs, but out of them, he was adrift. “Even shorts, like I was never great at picking out shorts,” Nangunoori said.
Around a year ago, he googled in search of a stylist and hired Peter Nguyen, a former menswear designer turned $10,000 stylist. Nguyen’s entrepreneur- and tech-type clients are long on money, short on time and scant on clothing knowledge.
Nguyen’s first step is a lengthy questionnaire: What music do you listen to, what are your hobbies, where do you vacation? “I view my clients like they’re characters in a movie,” he said. They give him their background and Nguyen’s job is to outfit that character.
The pair landed on a neat framework for Nangunoori’s new look: What would Ryan Reynolds wear? Prosaic tees were swapped for polo-neck sweaters and James Perse chinos were tailored to fit properly. Nguyen got Nangunoori into a pair of Common Projects minimalist $500-ish sneakers. Most importantly, he convinced him to ditch his shopping mistake paint-splattered jeans.
“I can’t pull off what Travis Scott’s wearing,” said Nangunoori, relaying all his hard-bought wisdom.
Like working with a trainer, some clients are wary of admitting they enlisted a fashion guru. One CEO I spoke with who hired a stylist told his business partner he had done so, only to be mocked. After that, he decided “I’m not talking to anyone.”
“I never had my own confidence in going shopping and buying suits or dress clothes or even my weekend stuff,” said Nate Dudek, 42, an executive at a software company living in East Hampton, Conn. A “technology nerd,” Dudek wasn’t born with a strong visual sense. “That goes from everything from picking a wall color in my house to the way I dress.” His tees-and-jeans wardrobe was as spicy as a glass of milk.
In 2022, about one year before co-founding his own company, Dudek “set out to invest in myself” by hiring Cassandra Sethi, a New York stylist behind the company Next Level Wardrobe whose services currently start at $5,500. Dudek’s wife, who has “killer style” and occasionally shopped for him, took some warming up to the idea. “She was like, ‘Why? I’m so good at buying you clothes!’”
But Dudek wanted an objective outside advisor—someone who didn’t know him as intimately as his wife—to overhaul his closet. (His wife has come around, and is relieved to not be his unpaid personal shopper.)
He never even had to meet her in person. Sethi shipped him boxes of clothes and over a three-hour Zoom session they deduced what suited him best. The transformation, Dudek said, “was fairly obvious.” Colleagues commented that he was carrying himself differently in his new grey Ted Baker blazer, and Save Khaki United’s trim tees. “I felt it too,” he said.
It is a cliché—but a factual one—that in many relationships, the wife or better-dressed husband is the begrudging fashion consultant. Supreet Chahal, a personal stylist in Oakland specializing in tech guys, says many clients come in saying “my girlfriend tried to help me, my wife tried out on me, but she keeps dressing me the way she wants me to look.”
Marco Rodriguez’s former girlfriend didn’t shop for him, but did steer him towards Nguyen a few years ago. “She was like, ‘Hey listen, I know you hate shopping,” said the 39-year-old musician and entrepreneur in Austin.
And oh, he did. Rodriguez could never find pants that fit his “interesting physique.” When he needed new clothes, he had to force himself to buy them. His style was directionless. “ I knew what I wanted but I just didn’t know how to get there.”
With Nguyen’s assistance, Rodriguez landed on a sort of “Soho boho, I hate to say rockstar” look of low-key Justin Theroux-style leather jackets, Chelsea boots and pieces from Parisian label Officine Générale. The experience “got me out of my comfort zone,” Rodriguez said.
The mindlessness that comes from working with a stylist is enticing to efficiency-obsessed tech workers. “I don’t want to spend a lot of time thinking in the morning,” said Michael Peter, 53, a principal architect at Google in cloud technology. Previously, he dressed like your standard tech worker—jeans, tennis shoes, the odd Batman tee—but a lightbulb went off during one meeting when he watched a better-dressed colleague take charge.
“He walked in the room, he had gravitas,” said Peter. Striving for that same effect, he hired Sethi of Next Level Wardrobe. She directed him toward a “refined elevated casual look” of slender-but-stretchy Vuori pants (which accommodate his gym-rat legs) and James Perse polos. Rather than his girlfriend telling him what to buy, he says, she’s stealing his clothes “all the time.”
To be sure, all of this comes at a cost. Businessmen I spoke with view the hefty fees as an investment, like renting a well-appointed office.
“The cost didn’t faze me a bit,” said Aaron Preman, 48, who owns a roofing company in San Diego, and hired Kenger at around $3,500.
“He taught me a lot in a short amount of time,” Preman said. He discovered that wintery colours suit his olive complexion and that he really likes Theory suits and Zegna ’s $990 triple-stitch sneakers—he now owns several pairs. The cost of everything—the guidance, the clothes—has been worth it to Preman. “He could’ve told me $10,000 and I would’ve said, ‘Okay, when are you coming over?’”
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The U.S. now has more billionaires than China for the first time in a decade, driven by AI and a booming stock market.
The number of U.S. billionaires in the world reached 870 in mid-January, outpacing the number in China for the first time in 10 years, according to a snapshot of the wealthiest in the world by the Hurun Report.
The U.S. gained 70 billionaires since last year, powered by a rising stock market, a strong dollar, and the insatiable appetite for all things AI, according to the 14th annual Hurun Global Rich List . China gained nine billionaires overall for a total of 823. Hurun is a China-based research, media, and investment group.
“It’s been a good year for AI, money managers, entertainment, and crypto,” Rupert Hoogewerf, chairman and chief researcher of the Hurun Report, said in a news release. “It’s been a tough year for luxury, telecommunications, and real estate in China.”
Overall, the Hurun list—which reflects a snapshot of global wealth based on calculations made Jan. 15—counted 3,442 billionaires in the world, up 5%, or 163, from a year ago. Their total wealth rose 13% to just under $17 trillion.
In November, New York research firm Altrata reported that the billionaire population rose 4% in 2023 to 3,323 individuals and their wealth rose 9% to $12.1 trillion.
Elon Musk, CEO of electric-car maker Tesla and right-hand advisor to President Donald Trump, topped the list for the fourth time in five years, with recorded wealth of $420 billion as of mid-January as Tesla stock soared in the aftermath of the U.S. election, according to Hurun’s calculations.
The firm noted that Musk’s wealth has since nosedived about $100 billion, falling along with shares of Tesla although the EV car maker is benefiting on Thursday from Trump’s 25% tariff on cars made outside the U.S.
According to the Bloomberg Billionaires Index, Musk’s wealth stood at about $336 billion as of the market’s close on Wednesday, although measuring his exact wealth —including stakes in his privately held companies and the undiscounted value of his Tesla shares—is difficult to precisely determine.
The overall list this year contained 387 new billionaires, while 177 dropped off the list—more than 80 of which were from China, Hurun said. “China’s economy is continuing to restructure, with the drop-offs coming from a weeding out of healthcare and new energy and traditional manufacturing, as well as real estate,” Hoogewerf said in the release.
Among those who wealth sank was Colin Huang, the founder of PDD Holdings —the parent company of e-commerce platforms Temu and Pinduoduo—who lost $17 billion.
Also, Zhong Shanshan, the founder and chair of the Nongfu Spring beverage company and the majority owner of Beijing Wantai Biological Pharmacy Enterprise , lost $8 billion from “intensifying competition” in the market for bottled water. The loss knocked Zhong from his top rank in China, which is now held by Zhang Yiming founder of Tik-Tok owner Bytedance. Zhang is ranked No. 22 overall.
Hurun’s top 10 billionaires is a familiar group of largely U.S. individuals including Jeff Bezos, Mark Zuckerberg, and Larry Ellison. The list has France’s LVMH CEO Bernard Arnault in seventh place, three notches down from his fourth ranked spot on the Bloomberg list, reflecting a slump in luxury products last year.
Nvidia CEO Jensen Huang is ranked No. 11 on Hurun’s list as his wealth nearly tripled to $128 billion through Jan. 15. Other AI billionaires found lower down on the list include Liang Wenfeng, 40, founder and CEO of DeepSeek, with wealth of $4.5 billion and Sam Altman, CEO of OpenAI, with $1.8 billion.
Also making the list were musicians Jay-Z ($2.7 billion), Rihanna ($1.7 billion), Taylor Swift ($1.6 billion), and Paul McCartney ($1 billion). Sports stars included Michael Jordan ($3.3 billion), Tiger Woods ($1.7 billion), Floyd Mayweather ($1.3 billion), and LeBron James ($1.3 billion).
Wealth continues to surge across the globe, but Hoogewerf noted those amassing it aren’t overly generous.
“We only managed to find three individuals in the past year who donated more than $1 billion,” he said. Warren Buffet gave $5.3 billion, mainly to the Bill and Melinda Gates Foundation, while Michael Bloomberg —ranked No. 19 with wealth of $92 billion—gave $3.7 billion to various causes. Netflix founder Reed Hastings, ranked No. 474 with wealth of $6.2 billion, donated $1.1 billion.