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The combined wealth of France’s 500 richest people reached a record estimate of 1,170 billion euros this year, an increase of 17% in one year, according to Challenges magazine’s annual rankings.
Every year, the French business magazine Challenges publishes a study on the (very) good health of France’s richest people. In 2009, their wealth stood at 194 billion euros. Today, it stands at 1,170 billion euros.
This impressive increase is partly due to the nearly 150 billion euro growth in the wealth of the four pillars of French luxury, unsurprisingly at the top of the list. The boss of the world’s leading luxury goods company, Bernard Arnault, remains at the top of the ranking, and has been since 2017, with an estimated fortune of 203 billion euros in 2023, up from 149 billion euros the previous year.
After the LVMH boss, come the Hermès families, who rank second in the ranking ( 138 billion euros), then Wertheimer, who owns Chanel (100 billion euros) and finally Françoise Bettencourt Meyers’ family, who owns L’Oréal ( 77 billion euros).
Challenges magazine declares that, by reaching such a wealth: “the overall fortune of the +500+ climbs to unprecedented heights (…) relegating last year’s record of 1,002 billion far behind“.
This astronomical figure now represents 45% of global wealth generation on French soil, compared with 10% in 2009, according to the weekly.
This growth is driven by the luxury goods sector, but not only. Part of it also comes from acquisitions in the French vineyard, notably by the Pinault family, owners of the luxury goods group Kering (31 billion euros). They have paid “several hundred million euros” to invest in the world’s most famous sparkling wine: champagne.
Some good news, some not so good. This annual study also reveals downward-sloping sectors such as retailing and tech unicorns. Unfortunately, these tech start-ups, “which have multiplied in recent years, have lost some of their lustre“, as Challenges points out. Some founders have dropped out of the rankings, while the majority of them are no longer progressing, or are even regressing.
Read also >Forbes Ranking: French luxury bigwigs dominate Tech
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The combined wealth of France’s 500 richest people reached a record estimate of 1,170 billion euros this year, an increase of 17% in one year, according to Challenges magazine’s annual rankings.
Every year, the French business magazine Challenges publishes a study on the (very) good health of France’s richest people. In 2009, their wealth stood at 194 billion euros. Today, it stands at 1,170 billion euros.
This impressive increase is partly due to the nearly 150 billion euro growth in the wealth of the four pillars of French luxury, unsurprisingly at the top of the list. The boss of the world’s leading luxury goods company, Bernard Arnault, remains at the top of the ranking, and has been since 2017, with an estimated fortune of 203 billion euros in 2023, up from 149 billion euros the previous year.
After the LVMH boss, come the Hermès families, who rank second in the ranking ( 138 billion euros), then Wertheimer, who owns Chanel (100 billion euros) and finally Françoise Bettencourt Meyers’ family, who owns L’Oréal ( 77 billion euros).
Challenges magazine declares that, by reaching such a wealth: “the overall fortune of the +500+ climbs to unprecedented heights (…) relegating last year’s record of 1,002 billion far behind“.
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The combined wealth of France’s 500 richest people reached a record estimate of 1,170 billion euros this year, an increase of 17% in one year, according to Challenges magazine’s annual rankings.
Every year, the French business magazine Challenges publishes a study on the (very) good health of France’s richest people. In 2009, their wealth stood at 194 billion euros. Today, it stands at 1,170 billion euros.
This impressive increase is partly due to the nearly 150 billion euro growth in the wealth of the four pillars of French luxury, unsurprisingly at the top of the list. The boss of the world’s leading luxury goods company, Bernard Arnault, remains at the top of the ranking, and has been since 2017, with an estimated fortune of 203 billion euros in 2023, up from 149 billion euros the previous year.
After the LVMH boss, come the Hermès families, who rank second in the ranking ( 138 billion euros), then Wertheimer, who owns Chanel (100 billion euros) and finally Françoise Bettencourt Meyers’ family, who owns L’Oréal ( 77 billion euros).
Challenges magazine declares that, by reaching such a wealth: “the overall fortune of the +500+ climbs to unprecedented heights (…) relegating last year’s record of 1,002 billion far behind“.
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