Hermès heirs overtake Arnault in the ranking of the greatest fortunes in France A new proof that the Maison is the only free from the damage generated by the luxury crisis

Things are changing, the industry is evolving, the economy is fluctuating, crises come and go, and yet, since 2017, one thing remained constant: Bernard Arnault was always at the top of the 500 wealthiest people in France list by Challenges magazine. However, yesterday, the annual ranking of this economic weekly showed a new and unexpected result. At the top of the list is not the cashmere wolf, but rather the hundred heirs of Thierry Hermès and his prestigious luxury house. With shares representing 66.7% of the luxury group's stock, the Hermès family is valued at €163.4 billion, compared to €116.7 billion for the Arnault family, who hold 48% of LVMH’s capital.

Far more than a mere ranking, this 2025 list is a true reflection of the industry in which families triumph in the race. While crises and issues pile up for LVMH, currently experiencing its most challenging period ever, Hermès, on the other hand, seems impervious to the destructive tide of the luxury crisis, not only avoiding losses but even reporting a 6.8% increase in net income this year, while LVMH saw a 17% drop explains Le Monde. In fact, last April, Hermès' valuation reached €243.65 billion, briefly surpassing LVMH’s €243.44 billion, making the historic house of the Dumas clan the most valuable company on the CAC40 index in Paris. The competition between the two luxury giants is certainly tight, but also far from friendly, fueled by a stormy past between them, marked by Arnault’s (failed) attempt to acquire the House of the Horse.

Hermès and LVMH are of course not the only players in the ranking. In third place are brothers Alain and Gérard Wertheimer, owners of the Chanel brand, with a fortune of €95 billion (down from €115 billion in 2024), followed by Françoise Bettencourt Meyers, heiress of L'Oréal, with €73.8 billion (down from €84.1 billion in 2024). François-Henri Pinault, former CEO of Kering Group and now chairman of its board of directors, is in 9th position, with €15 billion, down from €23.6 billion in 2024. Fashion seems to be struggling, except for Hermès, apparently. However, comparing today to thirty years ago, “the wealthiest French people were from the retail sector, today, luxury reigns” notes Pierre-Henri de Menthon, editor-in-chief of Challenges. Despite the crisis it is facing, luxury remains the first, the strongest, and the most lucrative. Perhaps weaker, but still number one.