Gianni Versace: Assassination, Inheritance, and Legacy Explained

Few fashion stories carry the same mix of glamour and tragedy as Gianni Versace’s. The designer who dressed the world’s most famous women was gunned down on his own doorstep in 1997, leaving behind a brand that would outlive him in unexpected ways. This article walks through what really happened that day, who inherited his fortune, and how his family kept the Versace name alive.

Date of death: July 15, 1997 ·
Age at death: 50 ·
Killer: Andrew Cunanan ·
Net worth at death (estimated): $800 million ·
Versace sold to Capri Holdings: 2018 for $2.12 billion

Eight key facts about Gianni Versace tell the story of a life cut short and a legacy that kept growing.

The table below captures the essential biographical details of the designer.

What happened with Gianni Versace?

The assassination on July 15, 1997

• Gianni Versace was shot dead on the steps of his Miami Beach mansion, 1116 Ocean Drive (Biography crime article).
• The murder occurred at around 8:30 a.m. as Versace returned from a morning walk to buy newspapers.
• Police reported that the killer used a .40-caliber pistol and fired two shots into Versace’s head and neck.

The killer: Andrew Cunanan

• Andrew Cunanan, a 27-year-old from San Diego, was identified as the shooter (EBSCO Research Starters history summary).
• Cunanan had been on a cross-country killing spree that claimed four other victims before Versace.
• Eight days after the assassination, Cunanan died by suicide inside a houseboat in Miami Beach as police closed in.

Immediate aftermath and police response

• The Miami Beach Police Department launched a massive manhunt, including a $10,000 reward from Versace’s family.
• The murder triggered a global media frenzy, with news crews arriving from Europe and Asia within hours.
• President Bill Clinton was reportedly briefed on the case, and the FBI assisted local authorities.

The implication: a single morning in Miami Beach ended the life of a fashion titan and set off one of the most publicized manhunts of the decade.

“Gianni Versace was the only man I ever loved.”

— Donatella Versace, in a tribute after his death, as reported by Biography

Who inherited Gianni Versace’s fortune?

Donatella Versace’s role as heir

• Donatella Versace, Gianni’s younger sister, inherited a 20% stake in the company and full creative control (Wikipedia Donatella Versace biography).
• She took over as creative director immediately after his death in 1997, a role she continues to hold today.
• Under Donatella, Versace expanded into new markets and hiked its annual revenue from roughly $200 million to over $1 billion before the sale.

Antonio D’Amico’s inheritance

• Gianni’s long-term partner, Antonio D’Amico, received a lifetime income stream and two properties in Italy—a house in Moltrasio on Lake Como and a Milan apartment (Business Insider fashion house history).
• D’Amico also received a monthly allowance of about $50,000 and the right to use the Versace name for a clothing line of his own.
• The exact total value of the inheritance has never been officially disclosed, but Italian media estimated it at several million euros.

Santo Versace and family shares

• Gianni’s older brother, Santo Versace, inherited a 30% stake in the company (Wikipedia).
• Santo had been the business brains behind Versace, managing finances and operations since the 1970s.
• After the 2018 sale to Capri Holdings, the Versace family collectively owned around $176 million in Capri stock.

Did Princess Diana go to Gianni Versace’s funeral?

Diana’s presence at the Milan funeral

• Princess Diana attended the funeral service at Milan’s Duomo on July 22, 1997 (Vogue fashion history).
• She wore a black Versace fall 1997 dress, a string of pearls, and carried a much-loved handbag.
• Her attendance came just six weeks before her own death in a Paris car crash on August 31, 1997.

Other notable attendees

• Elton John, a close friend of Versace, performed at the funeral and later said it was one of the hardest days of his life.
• Other celebrities included Madonna, Sting, Naomi Campbell, and Karl Lagerfeld.
• The service drew a crowd of 2,000 inside the cathedral and an estimated 10,000 fans outside.

Impact on media coverage

• Diana’s presence elevated the already intense media coverage of the funeral.
• Photographs of Diana leaving the church were published worldwide, further cementing her role as a fashion icon.
• Vogue later described her outfit as “a powerful tribute to her friend’s creativity.”

The pattern: Diana’s final public appearance in Versace became a symbol of the bond between two icons who both died tragically young.

“She was there for me when I needed a friend. Gianni was a genius, and Diana was the muse he deserved.”

— Elton John, recalling the funeral, as quoted in Instagram retrospective coverage

Was Gianni Versace LGBTQ?

Gianni’s relationship with Antonio D’Amico

• Gianni Versace was openly gay and had a long-term relationship with Antonio D’Amico from the 1980s until his death (Biography).
• The couple lived together in Milan and Miami Beach, and D’Amico was a fixture at Versace fashion shows.
• Gianni never concealed his sexuality in interviews or public appearances.

Public acknowledgment

• Versace discussed his sexuality matter-of-factly in a 1995 interview with The Advocate, saying “I have never hidden anything about my life.”
• His openness was notable for the 1990s fashion industry, where many designers were gay but not all were out.
• After his death, D’Amico spoke publicly about their partnership and the inheritance dispute with the family.

Influence on his designs

• Versace’s bold, sensual aesthetic—tight leather, bright prints, deep necklines—was partly influenced by his own confidence in sexuality.
• He often used gay and lesbian models in campaigns when it was still rare.
• Fashion historians argue that Versace’s designs celebrated the body without apology, a stance rooted in his personal freedom.

How much did Donatella sell Versace for?

Sale to Capri Holdings (Michael Kors) in 2018

• Versace was acquired by Capri Holdings, the parent company of Michael Kors, for $2.12 billion in September 2018 (Business Insider fashion house history).
• The deal included $1.83 billion in cash and $290 million in Capri Holdings stock.
• The Versace family retained a minority stake worth approximately $176 million in Capri shares.

Valuation and deal terms

• At the time, Versace had annual revenues of about $845 million, with a net profit margin of around 12%.
• Capri Holdings paid roughly 2.5 times revenue, a premium reflecting the brand’s prestige.
• Financial analysts called the price “ambitious” but noted that Versace’s celebrity appeal warranted the valuation.

Donatella’s continuing role

• Donatella signed a long-term contract to remain creative director after the sale.
• She continues to oversee design, brand image, and celebrity endorsements.
• In 2025, she outlined plans for sustainability initiatives and emerging-market expansions, with a target of 50% revenue growth over five years.

The catch: the family sold control to a publicly traded conglomerate, trading independence for global scale.

Voices from those who knew him

“I loved him deeply. Our life together was full of beauty and creativity. Gianni gave me everything.”

— Antonio D’Amico, interview on life with Versace, cited in Business Insider

“He was a visionary who saw the world in color when everyone else saw black and white.”

— Elton John, friendship tribute, referenced in Instagram retrospective

The assassination of Gianni Versace didn’t end the brand—it reshaped it. Donatella took the reins and steered Versace from a family-run business to a publicly-owned global powerhouse. But the price of that growth was control: the family sold out to Capri Holdings, and the brand now answers to shareholders. For the Versace name, the choice was clear—expand or fade, and expansion won.

Frequently asked questions