In this article, we will take a look at the 30 wealthiest people in France. We will also discuss the French economy and some of the major industries.
An Analysis of the French Economy
France ranks 5 on our detailed report on the 50 best countries in the world, based on four factors including the Human Development Index (HDI), R&D Expenditure, GDP (PPP), and International Migrant Stock. According to the European Union, France is expected to report dim economic growth at 0.7% in 2024 and is expected to rebound at 1.3% in 2025. Inflation is projected to decline to 2.5% in 2024 and 2% in 2025, due to falling energy and commodity prices. Public debt is expected to increase to 114% of GDP by 2025. According to Reuters, in the first quarter of 2024, the French economy gained momentum as consumer spending and business investment grew ahead of expectations. France, the second largest economy in the Euro Zone expanded by 0.2% in the first three months of the year. Economists polled by Reuters had an initial forecast of 0.1% and the Bank of France expected the economy to grow by 0.2%. Household consumption, a major driver of the economy, widened by 0.4% from 0.2% in the last quarter of 2023.
What’s New in the French Fashion Industry
Luxury French companies have been facing downturns in their returns due to economic uncertainty across the globe. On the other hand, fast fashion companies are experiencing momentum in France for their low-cost offerings. However, the French government is acting against these brands to protect the environment and established brands. On March 14, Reuters reported that the French Parliament approved a bill levying penalties on ultra-fast fashion products, especially by companies like Shein and Temu, to minimize the environmental impact. For every item, a penalty of EUR 10 is to be levied by 2030, and a ban on advertising such products was placed. Well-established companies rely on consumer demand forecasts, while companies like Shein and Temu can produce at scale due to extremely flexible supply chains and therefore charge prices in the single digits. This results in traditional players experiencing up to 40% waste. The Environmental Ministry in France also proposed a bill to levy an EU-level ban on the export of used clothes.
How is LVMH Revolutionizing the Luxury Market
While LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMHF) reported a decline in sales in the third quarter of 2023, it eventually gained momentum towards the end of the year and is following an upward trajectory into the first quarter of 2024. LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMHF) is a world leader in luxury goods and fashion products. The French luxury goods company is home to some of the leading brand names including Tiffany, Dior, Fendi, Givenchy, Marc Jacobs, Stella McCartney, Loewe, Loro Piana, Kenzo, Celine, Sephora, Princess Yachts, TAG Heuer, Bulgari. The company’s fashion and leather goods segment reported EUR 42.17 billion in revenue in 2023, up by 9% from 2022, and accounted for 49% of the total revenue in 2023. Adding to the above, the company achieved 3% organic growth in the first quarter of 2024, despite economic and geopolitical headwinds.
Despite slow growth in 2023, the company’s growth trajectory is exemplary. On June 20, The company acquired ‘Chez L’Ami Louis’, an authentic Parisian restaurant. The French restaurant is known for its culturally aligned dishes in a homely atmosphere. The company is stepping into new verticals, to preserve the unique character and identity of the restaurant. On June 25, LVMH (OTC:LVMHF) announced the acquisition of Swiza, owner of L’Epée 1839. Swiza is a Swiss high-end producer of clocks and has been operating for 185 years.
The environmental repercussions of fast fashion are immense. To counter the impact of fashion on the environment, LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMHF) is making moves towards sustainability. In 2023, the company rejuvenated and preserved more than 3 million hectares of fauna and flora habitats. 63% of the company’s energy mix comes from renewable sources and has reduced CO2 emissions from energy consumption by 28% from its baseline in 2019. The company will be a crucial stakeholder in the Paris 2024 Olympic and Paralympic Games as a creative partner to make games more socially and environmentally responsible. On July 2, the company revealed eco-designed outfits and medal trays in collaboration with Paris 2024 for volunteer medal bearers during victory ceremonies for the Olympic and Paralympic Games Paris 2024. The outfits to be worn by 515 medal bearers will reflect the culture and heritage of France. The outfits will consist of a polo shirt and pants with a Gavroche cap, all 100% eco-friendly. The shirts and caps are made from jersey fabric made from recycled textiles using offcuts of LVMH products upcycled by Weturn, a French startup.
Now that we have studied the French economy, let’s take a look at the 30 wealthiest people in France. You can also read our piece on the wealthiest people in Australia.
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Our Methodology
To compile our list of the 30 wealthiest people in France, we utilized the real time billionaires data from Forbes and ranked the wealthiest people in France in ascending order of their net worths, as of July 9.
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30 Wealthiest People in France
30. Christian Latouche
Net Worth as of July 9, 2024: $ Billion
Christian Latouche and his family have a combined net worth of $2.8 billion. He is the founder, owner, and chief executive officer of Fiducial SA, a global accounting firm. He bought a small accounting firm in 1970 and made Fiducial SA through acquisitions.
29. Anne Beaufour
Net Worth as of July 9, 2024: $2.8 Billion
Anne Beaufour’s grandfather founded Ipsen, a leading French pharmaceutical company involved in drug development for oncology, rare diseases, and neuroscience, in 1929. The family owns 76% of the company, which is split between the 3 siblings. Anne Beaufour currently controls 52% of the company with her brother Henri.
28. Henri Beaufour
Net Worth as of July 9, 2024: $2.8 Billion
Henri Beaufour owns a 52% stake in Ipsen with his sister Anne. Ipsen is a pharmaceutical giant that sells in more than 115 countries from across the globe. The company was founded by his grandfather in 1929.
27. Olivier Pomel
Net Worth as of July 9, 2024: $3.1 Billion
Olivier Pomel ranks 27th on our list of the wealthiest people in France with a net worth of $3.1 billion He is the chief executive officer of Datadog, a cloud-monitoring company. The company went public in 2019.
26. Mohed Altrad
Net Worth as of July 9, 2024: $3.3 Billion
Mohed Altrad is one of the wealthiest people in France with a net worth of $3.3 billion. He runs Altrad Group, which provides industrial services and construction equipment. He was born and raised in Syria as an orphan but later won a scholarship to France.
25. Charles Edelstenne
Net Worth as of July 9, 2024: $3.4 Billion
Charles Edelstenne ranks 25th on our list of the wealthiest people in France with a net worth of $3.4 billion. He is the co-founder and chairman of Dassault Systèmes, a publicly traded subsidiary of Dassault Group. He and his family own a 6% stake in the company.
24. Danielle Bellon
Net Worth as of July 9, 2024: $3.9 Billion
Danielle Bellon is one of the wealthiest people in France with a net worth of $3.9 billion. She is the widow of Pierre Bellon, owner of Sodexo, a food services and catering company. Pierre died at the age of 92 in January 2022.
23. Stéphane Bancel
Net Worth as of July 9, 2024: $4.2 Billion
Stéphane Bancel ranks 23rd on our list of the wealthiest people in France, with a net worth of $4.2 billion. He is the chief executive officer of Moderna. He took this position in 2011 and now owns almost 8% of the company.
22. Marc Ladreit de Lacharriere
Net Worth as of July 9, 2024: $4.2 Billion
Marc Ladreit de Lacharriere is one of the wealthiest people in France with a net worth of $4.2 billion. He is the chairman and chief executive officer of Fimalac, an investment group in the digital media and real estate industries. He founded the company in 1991.
21. Michel Leclercq
Net Worth as of July 9, 2024: $5.4 Billion
Michel Leclercq and his family have a combined net worth of $5.4 billion. He ranks 21st on our list of the wealthiest people in France. He is the owner of Decathlon. He founded the sporting goods store in 1976 which is now one of the biggest athletic retailers in the world.
20. Alain Merieux
Net Worth as of July 9, 2024: $6.1 Billion
Alain Merieux is the chairman of Institut Mérieux, a medicine and public health conglomerate. The company was founded by his grandfather in 1897. He founded BioMerieux, a publicly traded subsidiary of Institut Mérieux,
19. Patrick Drahi
Net Worth as of July 9, 2024: $6.7 Billion
Patrick Drahi has a net worth of $6.7 billion, contributing to his ranking on our list of the wealthiest people in France. He is the founder and owner of Altice NV which went private in 2021. He established the company with more than 20 acquisitions.
18. Thierry Dassault
Net Worth as of July 9, 2024: $7.9 Billion
Thierry Dassault ranks 18th on our list of the wealthiest people in France. He is the heir to the Dassault aerospace and software fortune. In 2019 he became the president of the supervisory board of the company.
17. Marie-Hélène Habert-Dassault
Net Worth as of July 9, 2024: $7.9 Billion
Marie-Hélène Habert-Dassault is the heiress to the Dassault aerospace and software fortune, inherited from her late father. She served as the president of the supervisory board of the company but decided to step down from her position in 2019. She is now the communications and partnerships director.
16. Laurent Dassault
Net Worth as of July 9, 2024: $7.9 Billion
Laurent Dassault ranks 16th on our list of the wealthiest people in France. He is the heir to the Dassault aerospace and software fortune which he inherited from his late father. He joined Dassault Group in 1991 after he spent 13 years working in banking. He now serves as co-managing director.
15. Marie Besnier Beauvalot
Net Worth as of July 9, 2024: $8.5 Billion
Marie Besnier Beauvalot has a net worth of $8.5 billion, contributing to her ranking on our list of the wealthiest people in France. She owns 21% of Lactalis, founded by her grandfather in 1933. Her brother is now the CEO and majority shareholder of the company.
14. Jean-Michel Besnier
Net Worth as of July 9, 2024: $8.5 Billion
Jean-Michel Besnier ranks 14th on our list of the wealthiest people in France with a net worth of $8.5 billion. He owns 21% of Lactalis, a dairy giant in France. The company was founded in 1933 by his grandfather.
13. Vincent Bolloré
Net Worth as of July 9, 2024: $8.9 Billion
Vincent Bolloré and his family have a combined net worth of $8.9 billion. He runs Bollore Group, which was founded in 1822. He has been under the limelight for corruption allegations. He also owns a majority stake in Vivendi, a telecom company.
12. Tanya Saadé Zeenny
Net Worth as of July 9, 2024: $8.9 Billion
Tanya Saadé Zeenny ranks 12th on our list of the wealthiest people in France. She is the daughter of the late Jacques Saade, who founded CMA CGM. She now jointly runs the company with her siblings and mother.
11. Jacques Saadé, Jr.
Net Worth as of July 9, 2024: $8.9 Billion
Jacques Saadé, Jr. is the son of the late Jacques Saadé, who founded CMA CGM, one of the largest shipping companies in France. Jacques Saadé, Jr. now heads CMA CGM’s real estate assets.
10. Rodolphe Saadé
Net Worth as of July 9, 2024: $8.9 Billion
Rodolphe Saadé ranks 10th on our list of the wealthiest people in France, with a net worth of $8.9 billion. He is the son of the late Jacques Saade, who founded CMA CGM, one of the largest shipping companies in the world.
9. Carrie Perrodo
Net Worth as of July 9, 2024: $10.0 Billion
Carrie Perrodo and her family have a combined net worth of $10 billion. She inherited Perenco, an oil company, after her husband died in 2006. Her eldest son chairs the company and her daughter overlooks the family’s investment in Bordeaux.
8. Xavier Niel
Net Worth as of July 9, 2024: $10.3 Billion
Xavier Niel ranks eighth on our list of the wealthiest people in France. He is the owner of the Iliad. Iliad is the parent company of Free, an internet services provider in France. Niel also owns stakes in LeMonde, Vodafone, and Unibail-Rodamco-Westfield.
7. Nicolas Puech
Net Worth as of July 9, 2024: $13.8 Billion
Nicolas Puech has a net worth of $13.8 billion, contributing to his position on our list. He is the fifth generation descendent of Thierry Hermes, a luxury fashion brand in France. He owns 5% of the company but resigned from the advisory board in 2014.
6. Emmanuel Besnier
Net Worth as of July 9, 2024: $24.2 Billion
Emmanuel Besnier ranks sixth on our list of the wealthiest people in France. He is the controlling shareholder of Lactalis, the world’s biggest dairy conglomerate. The company was originally founded by his grandfather in 1933.
5. François Pinault
Net Worth as of July 9, 2024: $26.0 Billion
François Pinault is one of the wealthiest people in France with a net worth of $26 billion. He is the honorary chairman of Kering, a luxury group of companies in France. Kering owns some of the world’s most popular brands including Gucci, Balenciaga, and Brioni.
