French billionaire and LVMH magnate Bernard Arnault falls from first place on the country's wealth ranking
Arnault Family Loses Top Spot in French Rich List
In a significant shift, the Arnault family, majority shareholders of luxury goods group Moët Hennessy Louis Vuitton (LVMH), have lost the top spot in the 2025 French rich list by Challenges magazine. The Hermès family has taken the lead, with an estimated fortune of €163.4bn, a 5% increase from the previous year.
The Arnault family's estimated worth has dropped by €73.6bn, or almost 39%, since the 2024 edition, now standing at €116.7bn. This decline is primarily due to a challenging year for France’s luxury sector, as consumer demand for luxury goods cooled after a boom period.
LVMH's share price on the Euronext Paris stock exchange has fallen around 28% over the past 12 months. This decline is reflected in the company's financials, with a reported 4% decrease in LVMH’s total revenue in the first half of 2025, dropping to €39.8bn. Sales within LVMH’s wine and spirits division have also taken a hit, declining by 8%, despite some recovery in Champagne demand during the second quarter.
These factors have led to a 17% fall in LVMH’s net profit in 2024, contrasting with a 6.8% profit rise for Hermès. The Hermès family, who control 66.7% of their luxury house, have shown resilience and growth during the same period.
Other members of France's wealthy elite with links to wine have also seen a downturn in their estimated professional fortunes in Challenges magazine's 2025 ranking. The Dassault family, known for their aviation industry business and significant wine holdings in Bordeaux, came fifth on the 2025 rich list with an estimated fortune of €35.6bn, up 24%. Alain and Gérard Wertheimer and family, owners of several wine estates including Châteaux Canon and Rauzan-Ségla in Bordeaux, came third with an estimated fortune of €95bn, down €20bn from the previous year.
François Pinault and family, controlling the Artemis Domaines wine empire with Château Latour and Clos de Tart, among other top names, came ninth on the 2025 French rich list with an estimated fortune of €15bn, down 36% from the 2024 edition.
Despite these challenges, Bernard Arnault, the chairman and CEO of LVMH, has expressed confidence in the company's long-term potential, acknowledging the current market uncertainty. The luxury sector, however, is expected to face continued challenges as it navigates the post-pandemic recovery.
[1] Challenges Magazine, 2025 French Rich List. [2] LVMH Financial Results, H1 2025. [3] Hermès Financial Results, 2024.
- Bernard Arnault, despite the decline in LVMH's financial performance and the Arnault family's drop in the French rich list, remains optimistic about the company's long-term potential.
- Being major shareholders of Moët Hennessy Louis Vuitton, the Arnault family's decrease in wealth is partly associated with a challenging year for the luxury goods sector, evident in LVMH's falling share price and decreased revenue.
- The wine and spirits division within LVMH, including Champagne sales, has also experienced a decline, contributing to the overall decrease in LVMH's revenue and net profit. This downturn in the wine industry is not exclusive to LVMH, as other French wine-related businesses have seen losses in their estimated professional fortunes.
