Legendary fashion designer Giorgio Armani has died at the age of 91.

But what currently remains unclear is who will inherit his estimated $US12.1 billion ($A18.5 billion) fortune — including an expansive property empire.

“Il Signor Armani, as he was always respectfully and admiringly called by employees and collaborators, passed away peacefully, surrounded by his loved ones,” the Armani Group confirmed in a statement.

“Indefatigable to the end, he worked until his final days, dedicating himself to the company, the collections, and the many ongoing and future projects.”

The designer — who did not have any children — had a fondness for international travel, a passion that extended to his love of real estate, which saw him snapping up properties across the globe, from an island home on Pa

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