The combined professional assets of the 500 largest fortunes in France have increased by almost 17% in one year to reach a record estimate of 1,170 billion euros this year, according to the magazine’s ranking Challengespublished Wednesday, July 5, 2023.
Almost all of this increase is attributable to the growth of almost 150 billion euros in the heritage of the four pillars of French luxury, at the top of the list. Bernard Arnault, boss of the world’s number one luxury LVMHremains at the top of the ranking, which he has dominated since 2017, with a family fortune estimated at 203 billion euros this year, against 149 billion in 2022, estimates Challenges.
The richest man in the world, according to the magazine Forbesis followed by the Hermès families (138 billion euros), Wertheimer (Chanel, 100 billion) and that of Francoise Bettencourt Meyers (L’Oréal, 77 billion), still the richest woman in the world according to Forbes.
Nearly 50% of French GDP
By reaching 1,170 billion euros, “ the global fortune of the “500” climbs to all-time highs […] relegating far behind last year’s record of 1,002 billion “, note Challenges.
“ In 2009, this amount was only 194 billion, representing 10% of the then GDP; today it’s 45% of the annual wealth production on French soil, writes the magazine.
Growth, in addition to the luxury sector, is driven by acquisitions in the French vineyard, in particular those of the Pinault family (Kering, 31 billion euros) which “disbursed several hundred million” to invest in champagne.
The struggling tech unicorns
“ Beyond the records, the 2023 edition reveals sectors struggling due to rising costs, such as distribution », signals Challengesciting as an example the contraction of the heritage of Claude Thiriet, number two in France for frozen foods, or the owners of Yves Rocher.
“ The unicorns of tech, which had multiplied in recent years, have lost their luster “, emphasizes again Challenges : “ A dozen unicorn founders even dropped out of the rankings this year ” And ” the majority of those who remain no longer progress, or even decline “.
Some 141 billionaires are now listed, compared to 55 in 2013. Over the same period, the level to enter this club of 500 rose from 65 to 235 million euros.
(With AFP)