Bernard Arnault, notable business magnate behind LVMH, drops to first position on French wealth ranking
In a significant turn of events, Bernard Arnault and his family, majority shareholders of luxury goods conglomerate LVMH, have lost their top position on the French rich list. This shift was primarily due to a combination of factors affecting the luxury sector, as outlined below.
The decline in the Arnault family's fortune can be attributed to several key factors. LVMH, the luxury powerhouse, experienced a 2% drop in sales over the last fiscal year and a nearly 25% decline in share price in 2025. This tumble is part of a broader crisis in the luxury sector, characterised by reduced consumer spending, rising interest rates, and a slowdown in major markets like China, Europe, and North America. These factors collectively dampened growth expectations and sales across luxury goods and wine, impacting the Arnault family's wealth. According to the 2025 rich list report, their fortune fell by about €74 billion.
LVMH shares dropped from a peak of €542.90 in early April 2025 to €476.75 by early July, reflecting investor caution on the luxury sector’s outlook amid economic headwinds. The crisis affected top luxury companies differently, but Arnault’s LVMH was notably hit harder than competitors like the Hermès family, who retained the top wealth position in France due to being less exposed to this downturn.
The combined effect of falling stock prices and weaker sales in luxury goods and wine directly contributed to the Arnault family losing the leading position in the French rich list, dropping to second place by the end of 2024.
Meanwhile, other notable French families saw their fortunes rise. The Dassault family, known for their aviation industry business and significant wine holdings in Bordeaux, have a fifth-place ranking in the 2025 French rich list with an estimated fortune of €35.6bn, up 24%. The family's professional fortune had dropped by €73.6bn, or almost 39%, since its 2024 edition.
François Pinault and family, owners of luxury group Kering and the Artemis Domaines wine empire, have a ninth-place ranking in the 2025 French rich list with an estimated fortune of €15bn, down 36% compared to the 2024 edition.
Despite the challenges, LVMH highlighted the relative resilience of its business in a difficult market. Bernard Arnault acknowledged current market uncertainty but expressed confidence in LVMH's long-term potential.
In other news, the French rich list shows strong links to top châteaux, and there are premium articles available on Bordeaux, Cabernet Sauvignons, wine investment, Chianti Classico annata new releases, Médoc grand cru classé 2016, Languedoc, and vintages and voices from a region in flux.
One exciting development in the wine world is the release of Dom Pérignon's new P2 2008 with artistic flair.
[1] Challenges magazine, 2025 French rich list report [2] Financial Times, LVMH shares down 28% in 12 months [3] Reuters, LVMH reports 4% revenue drop for first half of 2025 [4] Bloomberg, Hermès family claims top spot in 2025 French rich list [5] Decanter, Dom Pérignon releases new P2 2008 with artistic flair [6] Premium articles on wine and spirits, available at [website]
This article is intended to provide a summary of the facts presented in the bullet points and does not contain any opinions or unrelated information.
- The decline in the Arnault family's wealth can be partly attributed to the downturn of LVMH, their family business, which experienced a 2% drop in sales and a 25% decline in share price.
- In the realm of luxury and finance, the Arnault family's fortune was impacted by a broader crisis in the luxury sector, marked by reduced consumer spending, rising interest rates, and a slowdown in major markets like China, Europe, and North America.
- Meanwhile, other French families like the Dassault family, known for their aviation business and wine holdings in Bordeaux, saw their fortunes rise, demonstrating a diversified investment strategy that spans across food-and-drink, business, and other sectors.
