French business magnate Bernard Arnault dethroned from the number one position on France's wealth ranking
In a surprising turn of events, the Hermès family has overtaken Bernard Arnault and his family as France's richest, according to the 2025 French rich list by Challenges magazine. This marks the first time since 2016 that Arnault has not held the number one spot.
The Hermès family's estimated fortune rose by 5%, to an impressive €163.4 billion, primarily due to stronger performance and stock market resilience. On the other hand, the Arnault family's fortune decreased by approximately 39%, to €116.7 billion, largely due to a difficult year for LVMH and the broader luxury sector.
LVMH's share price on the Euronext Paris stock exchange fell around 28% over 12 months, and its net profit declined by 17% in 2024. As a result, LVMH's sales and value declined significantly, reflecting an industry slowdown since mid-2024. In contrast, Hermès outperformed LVMH by posting a 6.8% net profit increase and a stock price gain over 2.5%.
The Arnault family holds about 48% of LVMH, while the Hermès family controls 66.7% of their luxury group, contributing to the shifting rankings. Alain and Gérard Wertheimer and family, owners of Chanel and several wine estates, including Château Canon and Château Rauzan-Ségla in Bordeaux, came third in the 2025 French rich list with an estimated fortune of €95 billion, down €20 billion on last year.
Despite this setback, Arnault remains optimistic about LVMH's long-term potential. He acknowledged the current market uncertainty but expressed confidence in the company's resilience. The family's professional fortune had dropped by €73.6 billion, or almost 39%, since the 2024 edition of the French rich list.
Meanwhile, improvements in Champagne demand were noted in the second quarter for LVMH, and wine and spirits sales dropped only 8% on a reported basis for the company, hitting €2.59 billion. Other notable changes in the French rich list include the Dassault family, who came fifth with an estimated fortune of €35.6 billion, up 24%, and Francois Pinault and family, who came ninth with an estimated fortune of €15 billion, down 36% versus the 2024 edition.
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- The Hermès family, also known for their ownership of several wine estates, has expanded their fortune in finance by 5%, reaching €163.4 billion, which has been attributed to the stronger performance and resilience of their company's stock market.
- Despite a challenging year for LVMH, the company's Arnault family still manages Champagne production, with improvements in demand noted for the second quarter, and wine and spirits sales only dropping 8% on a reported basis for the company.
- Those with an interest in wine and finance may find valuable content on our website, including topics such as wine investment, collector's guides, panel tastings, and insights into regions in flux, featuring articles on top picks in Chianti Classico Riserva 2025 and châteaux on the rise in Bordeaux, among others.
