Billionaire Spanx Inventor Gave Up Idea of Law School After Doing Poorly on LSAT
Spanx founder Sara Blakely is a self-made billionaire, thanks in part to a poor showing on the Law School Admission Test.
Blakely, the daughter of a personal injury lawyer, took the LSAT twice and “scored abysmally,” Forbes magazine reports. She went on to work at Epcot Center buckling kids into the World of Motion ride, and then at an office supply company where she learned the art of the cold call.
Unhappy with the pantyhose she was forced to wear both places, Blakely came up with the idea for Spanx. Blakely liked the control top, but not the seamed feet that showed in sandals or open-toed shoes. She developed Spanx with $5,000 in savings, and wrote her own patent application from a Barnes & Noble textbook.
Today, Blakely has total ownership of Spanx, with zero debt, Forbes says. She is the youngest woman to make the magazine’s World’s Billionaires list without money from a husband or inheritance.
Hat tip to Above the Law, which unearthed the LSAT nugget in the lengthy story.
Story updated at 9:30 a.m. to correct misspelled word.