The Richest Men in France
by kalyani10
France was one of the largest economies of the world to experience a substantial jump in the number of its millionaires from 2010 to 2011. In 2012 it is estimated that there are 20,000 millionaire households in the country, a jump of 10,000 as compared to the previous year. Here are some of the richest men in France, most of who figure on the list of world’s billionaires as well.
- Bernard Arnault
With a net worth of $41 billion USD, Bernard Arnault is not only the richest man in France but of the continent as well. Little wonder then that he should be the fourth wealthiest billionaire in the world, preceded only by Carlos Helu, Bill Gates and Warren Buffet , according to Forbes 2012 List of World’s Billionaires1. Bernard Arnault is the owner of Louis Vuitton Moet Hennessy or LVMH, the world's largest luxury goods empire. According to Forbes, Arnault’s rise in personal fortune is directly linked to a 22% jump in profits, thanks to record sales at Louis Vuitton and the successful integration of Bulgari. The group formed a joint venture with one of the world's leading tanneries of crocodile leather, Heng Long. However Arnault’s investment in supermarket chain Carrefour hasn’t worked out quite so well since it is worth $1 billion less than it was a year ago.
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The 63 year-old billionaire is married and has 5 children. Among his personal high-end collection are the Indigo Island in the Bahamas where the rent is a staggering $300,000 a week as well as the ski chalet Cheval Blanc in Courchevel. His prime residence is in Paris but recently he has stirred up some controversy with an application for Belgian citizenship. While the move was construed in the media as a way to evade high French taxes, Arnault’s office clarified that the entrepreneur would continue to pay taxes in France and keep his French nationality2.
- Francois Pinault
Though coming after Lilliane Bettecourt - L'Oréal heiress and owner of $24 billion fortune – in the French Rich list, Francois Pinault ranks as the second richest man in France with a net worth of $13 billion, enough to rank him at the 59th position in the Forbes List of 2012 world billionaires.
Though a High School dropout, Francois Pinault went on to make a fortune in retail, especially of luxury goods. He is the majority shareholder of PPR, the fashion conglomerate that owns high-end fashion houses including Gucci, Stella McCartney, Alexander McQueen and Yves Saint Laurent. The group also owns sports and lifestyle brands Puma and Volcom. Pinault is sole owner of Christie's, which sold $4.9 billion of art at auction in 2011, rebounding 14% year on year. He was awarded the French Legion d'honneur.
The 72 years old luxury goods mogul lives in Paris and is a collector of fine arts. Pinault's personal art collection encompasses 2,000-plus works by the likes of Picasso, Mondrian and Jeff Koons. Pinault is married and has 3 children. Son, Francois-Henri runs Groupe Artemis, a holding company for the family's art, wine, and insurance investments among other interests but in recent times has been in news for his high profile wedding to Mexican and Hollywood actress Salma Hayek.
- Serge Dassault
Serge Dassault is a French senator and industrialist. As of March 2012, he enjoyed a net worth of $9.9 billion and was ranked 93rd on Forbes List of World Billionaires. Dassault is the current chairman and CEO of Group Dassault, which has numerous interests in software, media, and aerospace products. He inherited the group from his father, Marcel Dassault, who founded Dassault Aviation, which makes Mirage and Rafale jets. Under Serge though, the group went on to expand, having acquired the news outlet Le Figaro in 2004 and since then also purchasing a number of other media companies, forming Le Groupe Figaro. It has also entered the aeronautic and space equipment space through its acquisition of Belgium based S.A.B.C.A
Apart from being a businessman, Serge Dassault is also a public figure, having served as the mayor of Corbeil-Essones, a city south of Paris. The 87 year old is married and has 4 children.
- Alain & Gerard Wertheimer
The brothers Alain & Gerard Wertheimer are the next to figure on the list of richest French men. With a net worth of $7.5 billion as well as a 122nd ranking on the Billionaire list, the Wertheimer brothers are the joint owners of Chanel which has a range of luxury products in apparel, accessories and perfume. The company is most famous for its perfume Chanel No. 5 perfume which has been feted as the best selling scent in the world. The company was cofounded by their grandfather Pierre Wertheimer, who eventually bought out his early partner Gabrielle (Coco) Chanel, designer of the famous little black dress. Alan Wertheimer is the Chairman of the company while Gerard chairs Chanel's watch division. Other lucrative assets of the Wertheimer brothers include French vineyards Rauzan-Segla in Margaux and Chateau Canon in Saint-Emilion as well as thoroughbreds, including horses that have won such races as the French Derby and the Breeders' Cup Turf in the U.S.
Though French citizens, neither brother has primary residence in France. Alan Wertheimer lives in New York and Gerard lives in Switzerland.
- Jean Claude Decaux
With his family, Jean Claude Decaux is the sixth richest individual in France. He enjoys a net worth of $4.9 billion and ranks 219th on the Forbes Billionaire list. The self-made billionaire is the founder of JCDecaux, an outdoor advertising company. When first launched in 1964, its contract was to install ads on bus shelters and public toilets in Lyon. In 2010, it overtook its rivals to become the largest outdoor advertising company in the world. It is estimated that the company’s ads feature on bus shelters, public toilets or billboards, in malls, subways and airports in 3,600 of the world's largest cities where it is visible to more than 300 million people. The firm is also a leading provider of eco-friendly transportation in big cities, including bicycles for hire. Even though Decaux handed the reins to his sons Jean-Francois and Jean-Charles, who are co-chief executives of the board, in 2000, the 74 year old entrepreneur remains the chairman of the supervisory board. Decaux is married and has three children; he lives in Paris.
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