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The cumulative amount of the 500 largest fortunes in France has increased three-fold in ten years, reaching a record of 650 billion euros, according to the ranking 2018 Challenges magazine to be released Thursday. Bernard Arnault and his family are first in the ranking
650 billion euros: it is the amount of the heritage of the 500 largest fortunes of France, according to the magazine Challenges. The cumulative wealth of the wealthiest French accounts for almost 30% of the country's GDP in 2018, compared with 10% in 2009, after the financial crisis. The 650 billion represent "a ceiling never reached yet," notes the weekly, which states that this amount "increased by 13% in one year."
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At the top of the ranking, we find for the second year in a row Bernard Arnault, owner of the luxury group LVMH, and his family. Their 73.2 billion euros fortune is the first in Europe and the fourth in the world. With 40 billion euros, Alain and Gérard Wertheimer, the two owners of Chanel, go from 6th to 2nd place after the recent revelation of the consolidated results of the group which, after years of discretion, has announced to have achieved sales of 8.3 billion euros last year.
Then follow the fortunes of Axel Dumas, the manager of Hermès (39.6 billion), almost on a par with Françoise Bettencourt-Meyers, the owner of the group 'Oréal (39.3 billion). In fifth and sixth positions, we find Gérard Mulliez for the Auchan group (38 billion) and François Pinault (luxury group Kering, 30.5 billion). The manager of the telecommunications and media group Altice – recently abused on the stock market – Patrick Drahi, suffered one of the biggest falls (-48%) and lost four places to be 12th in the standings. Xavier Niel, founder of the group Iliad (Free), also out of the top 10.
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New personalities are appearing in the ranking, as Sadri Fegaier, leader SFAM, specialized in insurance of payment methods, which includes the 71st place with a valuation to 1.4 billion euros.
"The number of euro billionaires in our ranking reached, for the first time since 1996, the hundred," says the magazine that states that "they were three times fewer than ten years ago." "In a decade, the wealth of 500 Fortunes in our rankings has increased by 140%, when the outstanding savings of the French in Livret A grew by only 35%," concludes the weekly economic [19659009]! function (f, b, e, v, n, t, s) {
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