"My own butt was the inspiration" for the Spanx phenomenon, billionaire Sara Blakely told CNBC on Wednesday.
"I couldn't figure out what to wear under my white pants. I don't know if Warren has the same problem, Blakely said in a "Squawk Box" interview, while sitting next to Warren Buffett at Fortune's 15th annual "Most Powerful Women's Conference" in Washington. "I knew there was a void between the traditional underwear and the heavy-duty girdle."
At first, she made her own solution. "I cut the feet out of control top pantyhose. And realized it was better than anything I can buy on the market as far as smoothing. [But] it rolled up my leg all night under my pants. So I went home that night and said, 'I have to figure out to keep this below the knee.'"
Blakely said she grew up wanting to be a lawyer but "bombed" the LSATs. She landed at Disney World, looking to be the character Goofy. But she was too short and asked to be a Chipmunk. "I was not on a very good trajectory."