The wealth of the 500 largest French fortunes has increased by almost 17% in one year

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 1.17 billion euros this year, according to the magazine’s ranking. challenges Posted this Wednesday. Almost all of this increase is attributable to the growth of almost 150 billion euros in the wealth of the four pillars of French luxury, at the top of the list.

Bernard Arnault, head of the world number one in luxury LVMH, remains at the top of the ranking, which he has dominated since 2017, with a family fortune estimated at 203,000 million euros this year, compared to 149,000 million in 2022, estimates Challenges. The richest man in the world, according to Forbes magazine, is followed by the families Hermès (138,000 million euros), Wertheimer (Chanel, 100,000 million) and that of Françoise Bettencourt Meyers (L’Oréal, 77,000 million), still the richest woman. rich in the world according to Forbes.

“In 2009, this amount was only 194 billion, which represented 10% of GDP at that time; today it is 45%” of the annual wealth production on French soil, the magazine writes.

Sectors in trouble

The growth, in addition to the luxury sector, is driven by acquisitions in the French vineyard, in particular those of the Pinault family (Kering, 31,000 million euros) who “disbursed several hundred million” to invest in champagne.

“Beyond the records, the 2023 edition reveals sectors in trouble, due to the increase in costs, such as distribution,” reports challengesciting as an example the contraction of the assets of Claude Thiriet, number two in France in frozen foods, or the owners of Yves Rocher.

“The unicorns of technology, which had multiplied in recent years, have lost their luster,” he stresses again challenges: “a dozen unicorn founders have even dropped out of the ranking this year” and “most of the remaining ones no longer progress, they don’t even go down”. There are now 141 billionaires, compared to 55 in 2013. In the same period, the threshold to enter this 500 club went from 65 to 235 million euros.