Aug 29

French wine world stars in Rich List

Tag: Allgemeinessigi.hiss @ 11:12

Rebecca Gibb – France’s top 500 rich list includes 50 people involved in its wine industry. According to Challenges, a national current affairs and economic magazine, owners of estates in Bordeaux, Cognac and Champagne are the wealthiest in the country. Bernard Arnault, chairman and controlling shareholder of the luxury goods empire LVMH is currently France’s second richest man, worth more than €14.5bn.

LVMH owns wine estates including Krug, Château d’Yquem and Cheval Blanc but Arnault’s fortune has fallen by 20% in the last 12 months. Owner of first growth property Château Latour, Francois Pinault, is close behind in sixth place despite his assets falling 32% in value in the past year to €4.9bn.

Many wine estate owners in the rich list have made their fortunes in other industries from cured meats (Michel Reybier, Cos d’Estournel) to fashion (Wertheimer family, owners of Chanel and Château Canon & Rauzan Segla).

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