Wealth of France's 500 richest breaks records

For the first time, the combined fortune of the 500 richest French people exceeds 1200 billion euros. This news was announced by the economic journal Challenges in its annual ranking, which shows that not only have the figures reached an unprecedented record, but also that the number of billionaires in France continues to increase. The largest fortunes today account for a total of 1228 billion euros, which is 5% more than last year. It is also noted that the top 10 names in the ranking make up more than half of the total amount, amounting to over 693 billion euros. But who are the names among these 500 fortunate individuals?

At the top, unsurprisingly, is luxury giant LVMH with Bernard Arnault, omnipresent during this Olympic Games period, who maintains his position despite the group's stock market decline, with a total of 190 billion euros. Hermès takes second place, with assets of 155 billion euros, 17 billion more than in 2023. Still on the podium, the Wertheimer brothers, heirs of Chanel, who total 115 billion euros, take the bronze medal. Finally, a female figure arrives in fourth position, with Françoise Bettencourt Meyers, who has a fortune of 84 billion euros, thus earning the title of the richest woman in France, in this world of gold and diamonds largely dominated by men. Among the new faces entering the ranking this year is Pavel Durov, founder of the encrypted messaging service Telegram, who was recently granted French nationality, thereby gaining the right to be included in the classification. Besides the luxury sector, the web industry also appears to be flourishing as many other members of this VIP list come from this field. The founders of Mistral AI, Guillaume Lample, Arthur Mensch, and Timothée Lacroix, are in 45th position, while the creators of H, another French AI startup, are in 490th place. A position far from the coveted podium, indeed, but still a spot in the ranking.

Due to difficulties encountered with the Chinese market, it is noted that, despite very high figures and a top position for LVMH, Bernard Arnault and François Pinault (head of Kering) have observed a loss of several billion euros. At the same time, the number of French billionaires is booming, rising from 141 to 147 in one year. An impressive figure considering that there were only 67 billionaires in France 10 years ago and that the minimum wealth to qualify for the title is now 245 million euros (10 million more than last year). This figure, moreover, is based solely on professional assets, whether listed or not, without taking into account personal assets (real estate, private properties, cars, artworks, etc.). Another essential piece of information to provide is that the stock prices used to create this ranking are those of June 7, prior to the dissolution of the National Assembly. Since then, the main index of the Paris Stock Exchange has fallen by more than 5%.