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New York Fashion Week 2023 is about to be in full swing, and so many stars are going to be walking the runway in fabulous designs by the most well-known designers in the world.

Being a fashion designer takes an incredible amount of talent, creativity, patience and knowledge of the fashion industry, and there are plenty of designers who have managed to cultivate brands that are now worth millions – and billions! – of dollars.

We’re taking a look at the fashion designers considered to be the richest in the world, as several of them are scheduled to send their designs down the runways on models and A-list stars alike.

Find out who the richest designers are, ranked from lowest to highest in net worth…

Ralph Lauren is doing something incredible.

The 80-year-old designer announced through his fashion brand that his foundation will be donating $10 million to aid in coronavirus relief.

PHOTOS: Check out the latest pics of Ralph Lauren

“Now more than ever, supporting each other in this time of need has become our mission. As we face this global challenge together, the Ralph Lauren Corporate Foundation is committing $10 million to help our teams and communities around the world,” the brand wrote on Instagram on Thursday (March 26).

Many celebrities have been coming forward to help pitch in with COVID-19 relief. Find out who else…

Read Ralph Lauren‘s full statement…More Here! »

Ralph Lauren has canceled its upcoming fashion show due to Coronavirus fears.

The fashion show – which did not participate in New York Fashion Week – was set to take place in April in New York City.

“In light of the ongoing uncertainties related to the novel coronavirus around the world, we have decided to cancel our fall 2020 show as a precautionary measure and out of respect for our teams, partners and consumers. Our primary focus remains on their health and safety,” a Ralph Lauren spokesman said, according to WWD.

ICYMI, Prince William recently joked about spreading Coronavirus, meeting some backlash online.

Cate Blanchett and Claire Foy step out for the premiere of Very Ralph of Thursday evening (November 14) at the Royal Academy of Arts in London, England.

The 50-year-old Oscar winner sported a sparkling, black suit while the 35-year-old The Crown actress donned a red suit as they attended the premiere alongside designer Ralph Lauren and his wife Ricky.

PHOTOS: Check out the latest pics of Claire Foy

Also in attendance was James Middleton and fiance Alizee Thevenet.

Very Ralph chronicles the life and career of the designer. The doc is available to watch on HBO Go now.

READ MORE: Ralph Lauren Launches Clothing Line Inspired by Jennifer Aniston’s ‘Friends’ Character Rachel!

Ralph Lauren is paying tribute to Friends!

The clothing company announced a Friends clothing line in honor of the sitcom’s 25th anniversary, as well as Jennifer Aniston‘s character Rachel Green, who worked for the designer on the show.

The collection is in Ralph Lauren stores, and will be available to check out at the Central Perk-themed pop-up shop at Bloomingdale’s New York City on September 21-22.

The Friends creators recently revealed whether the show will be having a reunion. See what they said!

READ MORE: Jennifer Aniston Explains the Meaning Behind Her ‘Goddess Ritual’ With Her Closest Friends

Ralph Lauren has received major new title from the Royal Family!

The 79-year-old fashion designer has been named an Honorary Knight Commander of the Most Excellent Order of the British Empire (KBE) for Services to Fashion by Queen Elizabeth on Wednesday (June 19) at a private ceremony at Buckingham Palace.

Ralph is the first American designer to receive such an honor.

Joining Ralph at the event was wife Ricky Lauren and their children, son David Lauren with his wife Lauren Bush Lauren, son Andrew Lauren, and daughter Dylan Lauren with her husband Paul Arrouet.

“To have the honorary KBE conferred on me by Her Majesty Queen Elizabeth and presented to me personally by His Royal Highness the Prince of Wales is an honor I have humbly accepted,” Ralph said in a statement. “I have always been inspired by the history, traditions and culture of Great Britain and the historic relationship our two countries have shared. This is one of the most meaningful honors bestowed at this very special moment in my 50th Anniversary.”

Congrats Ralph Lauren!

Ralph Lauren is stepping down as the CEO of his fashion empire.

The 75-year-old designer will be replaced by Stefan Larsson, the current president of Old Navy and a former H&M executive.

Ralph will still have a role in the company as executive chairman and chief creative officer.

“When they start designing things I can’t understand, I’ll quit,” he told the New York Times. “But I don’t feel like I’m stepping back now.”

“One of the biggest reasons for me to join is the opportunity to work side by side with someone like Ralph,” Stefan said. He will begin his role as CEO in November.