Jewels are a sign of luxury, and turning them into fashionable accessories is how Peter Voutsas, best known as Peter Marco, made a name for himself. He is an acclaimed entrepreneur and jewelry designer with a long list of celebrity clients. As of 2024, Peter Marco has a net worth of $200 million.
Early Life
Voutsas was born on January 1, 1962 and grew up in a poor neighborhood in California, United States. Not much has been disclosed about his family or academic background. However, it is known that he took night classes to train in the art of jewelry making during the day.
In 1976, he joined the industry as a 14 year-old, cleaning jewelry labs and offices for an influential jeweler in New York during the summer. After nine months working as a cleaner, he trained to become a proper jeweler and quickly picked up the basics of the craft.
Career Beginnings
As a jeweler, Voutsas began creating, polishing, and setting diamonds as well as handmade jewelry. After three years, he moved on to the production department to further master working with precious stones.
By the time he finished his early education, the gem lover was promoted to a salesman position. Initially, he sold items door to door and made his first at 20 years old. Peter spent four years as a salesman and got the chance to work in the Caribbean, Europe, Canada, Asia, and the Cayman Islands.
Rise to Prominence
After traveling the world, Peter settled down in Los Angeles. In 2008, he opened up a store called Peter Marco Extraordinary Jewels of Beverly Hills. Reportedly it’s named after his children.
He created fascinating designs for necklaces, rings, bracelets, and more. It has attracted a lot of stars, including Floyd Mayweather, Kim Kardashian, Mike Tyson, Cardi B, and Shaquille O’Neal.
Because many celebrities endorse his work, Peter built a strong following on social media. On Instagram alone he has over 336,000 followers and dozens of photos with happy clients. He launched the PeterMarco.com website, to appeal to an international audience.
Net Worth and Earnings
The majority of his fortune comes from operating the Peter Marco store, selling luxury accessories to high-profile clients. For example, in 2017, he took rapper Rich the Kid to court for a debt worth $234,000.
Two years later, he also sued the Migos hip-hop trio for a $47,000 unpaid debt. These two instances alone give enough evidence that Peter’s jewels are exclusive to high-class people. This is why his net worth is estimated to be around $200 million.
There’s huge money to be made serving the luxury market as evidenced by LVMH, a firm that made €79.2 billion in 2022. Also, the typical markup on jewelry such as diamond rings is 300% on average according to shira-diamonds.com.
Personal Life
Peter is a big family man and is married to Esmerel Voutsas. The couple has been blessed with two wonderful kids, and both of them are boys. The family currently resides in a cozy home in Los Angeles, California.
