Bernard Arnault, leading figure in the LVMH empire, drops to first place in the French wealth ranking
In a surprising turn of events, Bernard Arnault and his family have lost the top spot on the 2025 French rich list to the Hermès family. The change in rankings is primarily due to a significant decline in LVMH's value, while the Hermès family's fortune saw a 5% increase.
According to the French business magazine Challenges, the Hermès family's estimated fortune now stands at €163.4bn, surpassing the Arnault family's €116.7bn. This marks the end of Arnault's reign at the top of France's richest list since 2017.
The decline in LVMH's value is attributed to a slowdown in the luxury industry, causing the company's net profit to fall by 17% and its conglomerate's value to drop by 25% over the year. In contrast, Hermès outperformed its rivals in 2024, with net profits rising by 6.8% and its stock gaining over 2.5%, despite lower total revenues.
Bernard Arnault and his family hold 48% of LVMH's capital, making the decrease in the company’s stock directly impact their net worth. On the other hand, the Hermès family controls 66.7% of Hermès shares, benefiting from the company’s growth.
Despite losing the top spot, Bernard Arnault remains among the richest individuals globally, with a net worth estimated around $147.7 billion, according to Forbes in July 2025. However, the Hermès family now holds a larger fortune in France.
This shift in rankings reflects broader market trends impacting luxury brands differently in 2024-2025. LVMH highlighted the relative resilience of its business in a difficult market. Champagne demand improved in the second quarter for LVMH, and the company's share price on the Euronext Paris stock exchange was down around 28% in 12 months.
Meanwhile, the wine and spirits sales of LVMH dropped 8% on a reported basis, hitting €2.59bn. In contrast, Hermès' total revenues were €15.2 billion, lower than LVMH's €85 billion in sales.
Other notable changes in the 2025 French rich list include Alain and Gérard Wertheimer and family, owners of Chanel and several wine estates, coming third with an estimated fortune of €95bn, a decrease of €20bn compared to the previous year. François Pinault and family, owners of luxury group Kering and Artemis Domaines wine empire, came ninth with an estimated fortune of €15bn, a decrease of 36% compared to the 2024 edition.
The Dassault family, known for their aviation industry business and wine holdings in Bordeaux, came fifth with an estimated fortune of €35.6bn, an increase of 24%. Notable events unrelated to the economic downturn in the wine sector include Dom Pérignon releasing a new P2 2008 with artistic flair and Scotch whisky auction sales seeing a 'sharp correction'.
This article is based on information from Challenges magazine and various other sources.
[1] Challenges, 2025, [Link to the article] [2] Forbes, July 2025, [Link to the article] [3] Other sources, [Link to the sources]
In the realm of French finance, the Hermès family, with their 5% increase in fortune, has surpassed Bernard Arnault's family, who have experienced a decline in LVMH's value, thereby dethroning them from the top spot on the 2025 French rich list. This shift in the luxury industry has extended to fashion-and-beauty businesses, as well as the broader wine and spirits market.
While the Arnault family still holds significant wealth, currently estimated around $147.7 billion, the Hermès family now boasts a larger fortune within France. The decline in LVMH's stock, directly impacting the Arnault family's net worth, contrasts with the growth the Hermès family has seen from their 66.7% ownership of Hermès shares.
