June 16, 2021

Europe’s billionaires are $ 1 trillion richer in one year

European billionaires |
Source : GettyImages

Bernard Arnault remains the richest person in Europe. Germany again leads Europe with the most billionaires on the ranking of the world’s greatest fortunes established by Forbes in 2021.

The wealth of European billionaires has increased to $ 3 trillion, according to Forbes, the richest in the world having remained largely immune from the financial damage caused by the coronavirus pandemic.

Forbes has just published its list of the world’s billionaires for 2021, which has 628 European billionaires, up from 511 the previous year. As a group, they are $ 1 trillion richer than they were a year ago, suggesting that for the hyper-rich the year of the pandemic has been lucrative.

French luxury mogul Bernard Arnault retains his place as the world’s third-largest fortune, even though his fortune of $ 150 billion has nearly doubled from $ 76 billion the previous year, due to the rise in the value of LVMH shares. Spanish fast-fashion mogul Amancio Ortega is the second richest in Europe, with a fortune of $ 77 billion. Although this amount is $ 20 billion more than a year ago, it has risen from sixth place last year to eleventh place in the world’s largest fortunes, as other billionaires, mostly Americans, have exceeded his earnings.

This year, 72 new European billionaires are joining the ranks, including Mathias Doepfner, CEO of Axel Springer (after receiving a donation of nearly $ 1.2 billion in shares of the media giant from billionaire owner Friede Springer) and the founder of Checkout.com, the Swiss Guillaume Pousaz, whose stake in the private electronic payment company is estimated at $ 9 billion. Others who had retired from the list have returned, including easyJet founder Greek Stelios Haji-Ioannou and the three German brothers who founded Rocket Internet, Oliver, Marc and Alexander Samwer.

Since the publication of the 2020 ranking, seven European billionaires have died. Among them, Olivier Dassault (France), Heinz Hermann Thiele (Germany), Benjamin de Rothschild (Switzerland), Manuel Jove (Spain), Dmitri Bosov (Russia), David Barclay (United Kingdom) and Arne Wilhelmsen (Norway). Petr Kellner, the richest Czech billionaire, died in a helicopter crash on March 27, after Forbes printed the ranking. His fortune of $ 17.5 billion is therefore included in these figures. It is likely that his wife and children will inherit his fortune.

The new billionaires are not the only ones to have contributed to the soaring fortunes. If we exclude newcomers and billionaires who left the list and return to it this year, Europe’s billionaires are collectively $ 797 billion richer than last year. Note: for the 2020 ranking, Forbes measured net worth using stock prices and exchange rates as of March 18, 2020, which has proven to be a relatively low point for many global stock indices and for the value of the euro against the dollar . To establish this year’s ranking, Forbes used stock prices and exchange rates from March 5, 2021.

Germany remains the European country with the most billionaires, with 136 people, for a total fortune of 625 billion dollars, including 26 new billionaires and 9 who had left the list in the past. Unlike France, in Germany it is not luxury goods but low-cost retailing that has contributed to the increase in wealth. Aldi’s heirs, Beate Heister and Karl Albrecht Jr., are Germany’s richest, with a net worth of $ 39.2 billion as the low-cost supermarket continues to gain customers in new territories like the UK. Dieter Schwarz, owner of discount supermarkets Kaufland and Lidl, is the biggest dollar winner in Germany. His fortune has increased by $ 17.1 billion from last year to $ 36.9 billion as supermarkets have risen in value amid the pandemic.

France is a favorite destination for billionaires, in large part thanks to the strength of its luxury and fashion sectors. The country has 42 billionaires with a total fortune of $ 512.2 billion. Bernard Arnault, of LVMH, made the biggest dollar gain in the country. At Chanel, the brothers Alain Wertheimer and Gérard Wertheimer, grandsons of founder Pierre Wertheimer, also saw their fortune double in one year, from 17 to 35 billion dollars each, in parallel with the rise in the values ​​of the biggest brands of European luxury.

The fortunes of Europe’s ten richest billionaires are collectively worth $ 552 billion. These billionaires added $ 216 billion to their estimated total net worth between 2020 and 2021.

The ten richest people in Europe in 2021

  1. Bernard Arnault France. 150 billion dollars

  1. Amancio Ortega Spain. $ 77 billion

  1. Francoise Bettencourt Meyers France. $ 73.6 billion

  1. Francois Pinault France. $ 42.3 billion

  1. Beate Heister & Karl Albrecht Jr. Germany. $ 39.2 billion

  1. Dieter Schwarz Germany. $ 36.9 billion

  1. Giovanni Ferrero Italy. $ 35.1 billion

  1. Alain Wertheimer France. $ 34.5 billion

  1. Gérard Wertheimer France. $ 34.5 billion

  1. Alexey Mordashov & sa famille Russia. $ 29.1 billion

Article translated from Forbes US – Author: David Dawkins

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