The former CEO of Ralph Lauren was born Ralph Lifshitz in the Bronx, New York, but changed his name at the age of 15. He went on to study business at Baruch College and served in the Army until the age of 24 when he left to work for Brooks Brothers.

At 26, Lauren decided to design a wide European-styled tie, which eventually led to an opportunity with Neiman Marcus. The next year, he launched the label "Polo."