GILDED AGE: Roughly one-third of the 25 richest people in Europe are from the fashion, beauty or luxury goods industries, according the annual Sunday Times of London Rich List, which was published Sunday. At the very top of the heap is Amancio Ortega, the Spanish founder and owner of Zara parent Inditex, whose net worth is 38.5 billion pounds, or $64.74 billion. Not far behind are Stefan and Liselott Persson, members of the family that owns Hennes & Mauritz, with 22.4 billion pounds, or $37.67 billion, and LVMH Moët Hennessy Louis Vuitton chief Bernard Arnault, whose net worth is calculated at 19.2 billion pounds, or $32.29 billion. All figures have been converted from the pound at current exchange rates.
Liliane Bettencourt, one of the principal shareholders in L’Oréal, has a fortune valued at 19.1 billion pounds, or $32.12 billion, while her fellow Frenchman Bertrand Puech and his family, whose ancestors founded Hermès, has a net worth of 14.8 billion pounds, or $24.89 billion. Leonardo del Vecchio, founder and chairman of Luxottica, has 11.4 billion pounds, or $19.17 billion, to his name, while Alain and Gérard Wertheimer, brothers with a controlling stake in Chanel, are worth 11.2 billion pounds, or $18.83 billion. Number 25 in the ranking are Miuccia Prada and her husband Patrizio Bertelli, who are together worth 10.3 billion pounds, or $17.32 billion.
This story first appeared in the May 19, 2014 issue of WWD. Subscribe Today.