French tycoon Bernard Arnault falls from first place on the country's wealth ranking
In a surprising turn of events, Bernard Arnault and his family have lost their long-held position as France's wealthiest family, according to the 2025 French rich list by Challenges magazine. The Hermès family has taken over the top spot, with an estimated fortune of €163.4 billion, up 5% from the previous year.
The decline in the Arnault family's fortune, primarily due to a drop in LVMH's share price and reduced revenue, has been a significant factor in this shift. LVMH shares fell approximately 28% over 12 months on the Euronext Paris stock exchange, reflecting market challenges. The company's total revenue also fell 4% for the first half of 2025, to €39.8 billion, with the wine and spirits division sales down 8%, despite some recovery in Champagne demand.
The luxury sector has experienced a slowdown, affecting major luxury houses. Consumer demand for luxury goods cooled after a boom period, leading to this decline in LVMH's performance. In contrast, Hermès outperformed, with its net profit rising by 6.8% in 2024, its stock gaining over 2.5%, and its fortune growing to €163.4 billion, reflecting better resilience to the sector's downturn.
This marks the first time since 2016 that Arnault and family are not at the top of the French rich list, highlighting how market dynamics and company performance can rapidly shift such rankings.
François Pinault and family, controlling the Artemis Domaines wine empire that includes Château Latour and Clos de Tart, came ninth on the 2025 French rich list with an estimated fortune of €15 billion, down 36% versus the 2024 edition. Alain and Gérard Wertheimer and family, owners of several wine estates including Château Canon and Rauzan-Ségla in Bordeaux, came third in the 2025 French rich list with an estimated fortune of €95 billion, down €20 billion compared to the previous year.
Despite losing the top spot, Bernard Arnault and family still have an estimated worth of €116.7 billion (£101.3 billion). The family has shown resilience in the face of these challenges, with their five-year growth remaining around 18%. Bernard Arnault acknowledged the current market uncertainty but expressed confidence in LVMH's long-term potential.
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- Contrary to the decline in LVMH's fortunes, the wine investment sector, as exemplified by Hermès, proved resilient during the sector's downturn, with net profits rising and stock values appreciating.
- In the realm of luxury lifestyle, food-and-drink businesses, like Hermès and Artemis Domaines, have shown impressive performances, outperforming their competitors despite the overall slowdown in consumer demand for luxury goods.
- For investors and those in the finance sector, the Hermès family's wine investment strategy, as well as the performance of companies such as Artemis Domaines, offers an intriguing case study, illustrating how strategic investment in food-and-drink businesses can yield substantial returns.
