Spanx Creator Becomes Billionaire

The 41-year-old joins one of the world's most exclusive clubs.
2:53 | 03/08/12

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Transcript for Spanx Creator Becomes Billionaire
Now to one of the world's most exclusive club the cost a billion dollars to get in. Forbes is out with its annual list of billionaires and a new addition to the -- really stood out the 41 year old who acquired her. Assets by making all of ours. Look better ABC's chemical figure is here with a lot more my hero and for that she should -- -- at least a trillion dollars and a lot of women's opinions good morning Robin. We'll 104 -- made the Forbes billionaire list for 2012. A new record. Among them a former Disney World breeder who one -- came up with the body shaping product that would forever change women's fashion. Today that products banks has made Sarah -- the youngest self made woman on the company atlas. Amid the familiar faces on this year's Forbes richest list there's a new billionaire this woman Sarah Blakely. Who cashed -- by slimming down. They still celebrate I killed ten years younger greatly created thanks to pantyhose without -- Which -- women's backside and -- -- all the right places. That's an idea first thanks for my and rare and gotta say it I didn't like the way that -- about Clinton white pants and spent instilled a very much needed niche on the perfect undergarments aware that made a difference and gave no pay any lines and really -- intoned everything -- Oscar winner Octavia Spencer joked how she worked three pairs to the Golden Globes I thought of hair at the -- is -- I'm gonna go for three Spencer isn't the only aim -- vote -- stars from what -- -- drove to Jessica Alba and millions of everyday women on the go our fans. But Blakely says she owes her billion dollar invention to another female billionaire Oprah Winfrey. Saying the idea first banks came to her after watching her show. Two years later she found herself on the Oprah Show as a favorite thing. Expansive Barbara which. As our lives it's like. There isn't as exciting moment ever the sales just went crazy I mean you know I just win it all became about keeping up with production and I then got intent all these very amazing retailers and hit the ground and stood in department stores for two years. Promoting -- some lifting up -- healing -- shaken my backside for any woman who had. Listen. Blakely was 249 years old when she invested her entire life savings -- dropping 5000 dollars into our little idea. Twelve years later the 41 year old is a self made billionaire. Turning that 5000 dollar initial investment into a 350. Million dollar a year company. And get this not everyone was initially convince its banks would be a hot selling item when Blakely reached out to a copyright attorney in the 1990s to trademark her creation. The attorney stopped and asked if he was on candid camera -- -- last -- -- Percent and nobody. I think you --

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