Europe is home to some of the world’s most successful entrepreneurs and business leaders, and the year 2024 is no exception. The continent possesses a range of industries, from luxury goods to confectionaries, that have produced a generation of billionaires. The leader of LVMH, Bernard Arnault, is at the forefront. The founder of Inditex, Amancio Ortega, comes after him. The chairman of the Ferrero Group, Giovanni Ferrero, ranks in third place. Let’s move forward and discover the top 10 richest men in Europe and uncover their net worth.

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List of Top 10 Richest Men in Europe 

• Bernard Arnault
• Amancio Ortega
• Giovanni Ferrero
• Klaus-Michael Kühne
• Alain Wertheimer
• Gerard Wertheimer
• Mark Mateschitz
• Dieter Schwarz
• Gianluigi Aponte
• François Pinault

1- Bernard Arnault

Bernard Arnault is the chairman and CEO of LVMH and the richest person in Europe. He is also the wealthiest individual in the world. As of January 2024, Arnault’s net worth stood at $189.7 billion. He established an enormous empire in the luxury goods sector.

Arnault was born into a wealthy family in Roubaix, France, and attended elite Catholic schools. He is known for his passion for art, architecture, and fashion. Arnault’s art collection includes works by Picasso, Yves Klein, Henry Moore, and Andy Warhol.

The main source of Arnault’s fortune is his ownership of LVMH. He acquired Christian Dior in 1985 and used it as a launching pad for future endeavors. Under his leadership, LVMH has expanded its portfolio to include prestigious brands such as Louis Vuitton, Fendi, Givenchy, Celine, Dior, Loewe, Marc Jacobs, Sephora, and Tiffany & Co.

Arnault’s luxury assets extend beyond LVMH. He has made substantial investments in various web companies, including Boo.com, Libertysurf, and Zebank. In 1998, he acquired Château Cheval Blanc and added it to LVMH’s wine property, Château d’Yquem. In 2008, Arnault entered the yacht business by acquiring Princess Yachts and Royal van Lent.

Arnault has faced several controversies throughout his career. He has been accused of exploiting workers by paying low wages and denying them benefits. In 2012, he was the subject of a high-profile investigation by French tax authorities for allegedly using offshore tax havens to avoid paying taxes in France. Critics have also accused him of using his wealth to influence French politics.

Despite the controversies, Bernard Arnault remains one of the world’s most influential and successful businessmen. His ability to transform struggling brands into global luxury giants has established his status as the “king of luxury”.

2- Amancio Ortega

Amancio Ortega is the founder of Inditex and the creator of Zara. He is the second wealthiest individual in Europe, with a net worth of approximately $121.5 billion as of early 2024. 

Ortega’s wealth comes primarily from his ownership of Inditex, the world’s largest clothing retailer. He holds about 59% of the company, which includes popular brands like Zara, Massimo Dutti, and Pull&Bear. The first Zara store opened in 1975 in La Coruña, Spain. 

Since then, Ortega has transformed the brand into a global phenomenon, with over 7,500 stores in more than 90 countries. His innovative approach to fast fashion and trendy designs has set the standard in the retail industry.

Ortega also established the Amancio Ortega Foundation to focus on education, social welfare, and health initiatives. The foundation has donated millions to various causes, including a notable $344 million commitment to enhance breast cancer screening technology in Spanish hospitals. 

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3- Giovanni Ferrero

Giovanni Ferrero is the chairman of the Ferrero Group. His net worth is estimated at $44.3 billion in 2024. He has demonstrated his business acumen and the power of iconic brands like Ferrero Rocher and Nutella by growing his family firm into a global confectionary empire.

Giovanni Ferrero was born in Farigliano, Italy, and studied marketing in the United States. He is also an accomplished writer, having published several novels, including “Stelle di Tenebra” and “Campo Paradiso.”

Ferrero Group is the world’s third-largest chocolate and confectionery company. After the tragic death of his brother Pietro in 2011, he assumed sole leadership of the company, building on the legacy established by his father, Michele Ferrero. Under his guidance, the Ferrero Group has expanded its reach to over 160 countries.

While the Ferrero Group has enjoyed success, it has not been without its share of controversies. The company has faced criticism for the potential health risks associated with its sugary confections. A substantial portion of the company’s raw materials come from West Africa, where cocoa farmers are subject to criticism on how it treats them.

4- Klaus-Michael Kühne

Klaus-Michael Kühne is a prominent figure in the logistics and shipping industry. He is known for his significant contributions to global trade. His net worth is approximately $42.2 billion in 2024 and his assets include a variety of luxury properties. 

His wealth primarily comes from his majority ownership of Kühne + Nagel, an international transport and logistics company co-founded by his grandfather in 1890. He joined the company in 1963 and became CEO in 1996. Today, he is the largest shareholder of Hapag-Lloyd, one of Germany’s leading shipping companies, and holds a significant stake in Deutsche Lufthansa AG, Germany’s airline.

Kühne is also recognized for his philanthropic efforts through the Kühne Foundation, established in 1976. The foundation focuses on promoting education and training in logistics and transportation. It supports various humanitarian, social, and cultural projects, including allergy research and medical initiatives. 

Kühne has faced criticism for his tax practices, as he has lived in Switzerland since 1975 and does not pay taxes on his holdings in Germany. The situation has raised controversies, especially given the substantial profits generated by his companies. 

5- Alain Wertheimer

Alain Wertheimer is known for his role as co-owner and chairman of Chanel. He has a net worth of approximately $41.2 billion in 2024. Chanel is the iconic fashion house co-founded by his grandfather, Pierre Wertheimer, alongside Coco Chanel. 

Alain and his brother Gérard took control of the company in the 1990s. Under their leadership, Chanel has become one of the most valuable luxury brands in the world, generating billions in revenue annually.

Today, he resides in New York City but also owns several luxurious properties, including vineyards in France and Napa Valley, California. The Wertheimer family is passionate about wine, owning renowned estates like Château Rauzan-Ségla and Château Canon.

6- Gerard Wertheimer

Gerard Wertheimer is the co-owner of the luxury fashion brand Chanel and the brother of Alain Wertheimer, chairman of Chanel. Along with his brother Alain, Gerard has contributed to making Chanel a global luxury brand. In 2024, his net worth is estimated at $41.2 billion. 

Gerard Wertheimer is known for his passion for horse racing and breeding. He inherited the family’s horse racing business, Wertheimer et Frère, and oversees the family’s thoroughbred racing stable, known as La Presle Farm or Wertheimer Farm. 

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7- Mark Mateschitz

Mark Mateschitz is one of the wealthiest young billionaires in Europe. With a net worth of approximately $40 billion in 2024, he inherited a significant fortune from his late father, Dietrich Mateschitz, co-founder of Red Bull. 

Before inheriting his fortune, he launched his own drinks company, Thalheimer Heilwasser GmbH, which produces beverages from one of Austria’s oldest springs. Today, Mateschitz’s wealth comes from his 49% stake in Red Bull, the energy drink company that revolutionized the beverage industry.

Red Bull has become a global phenomenon, selling over 12.1 billion cans in 2023 and generating substantial revenues. The company is not just about energy drinks; it has expanded into sports and entertainment, owning teams like Red Bull Racing in Formula 1 and the New York Red Bulls in Major League Soccer.

Mark is involved with the Red Bull Wings for Life Foundation, which focuses on spinal cord injury research. The foundation aims to find a cure and has funded numerous projects worldwide. 

8- Dieter Schwarz

In Europe, Dieter Schwarz is another name that represents retail success. As the owner of the Schwarz-Gruppe, which operates popular supermarket chains Lidl and Kaufland, he has amassed a fortune estimated at $37.2 billion in 2024. 

Schwarz’s wealth is primarily derived from his ownership of the Schwarz-Gruppe. He took over the family business in 1977 after his father’s death and expanded it significantly. Under his leadership, Lidl transformed into a global discount supermarket chain. Today, Lidl has over 12,500 stores in more than 25 countries.

In 1999, Schwarz established the Dieter Schwarz Foundation, a non-profit organization dedicated to promoting education and scientific research. The foundation supports various initiatives, including scholarships, educational institutions, and scientific research projects. It has funded nearly 700 institutions. 

9- Gianluigi Aponte

Gianluigi Aponte is the founder and chairman of the Mediterranean Shipping Company (MSC). With a net worth of approximately $34.8 billion in 2024, he ranks among the 10 richest men in Europe. 

Aponte established MSC in 1970 with his wife, Rafaela. Starting with a single vessel, the company has grown to become one of the world’s largest container shipping lines. It has an impressive fleet of around 700 ships. MSC controls about 18.2% of the global market share in liner shipping.

Despite his success, Aponte has faced controversies. MSC has been scrutinized for incidents involving lost containers and oil spills, raising questions about its environmental practices. In 2019, a crew member from one of MSC’s ships was implicated in a massive drug smuggling operation, which brought negative attention to the company.

10- François Pinault

François Pinault is known for his role as the founder of Kering. It is a parent company that owns celebrated brands like Gucci, Balenciaga, and Yves Saint Laurent. As of 2024, his net worth is estimated at around $22.7 billion. He is also the father-in-law of actress Salma Hayek, who is married to his son François-Henri Pinault, the current CEO of Kering.

Pinault transformed Kering from a timber trading company into a luxury empire. He started his business journey in 1963, initially focusing on timber. By the late 1990s, he shifted his focus to luxury goods and he acquired major fashion houses. His strategic acquisitions, including a controlling stake in Gucci, have significantly boosted his fortune.

Pinault is known for his impressive collection of luxury assets. He owns several vineyards in Burgundy. He purchased the renowned auction house Christie’s in 1998 for $1.2 billion. His personal art collection of millions of dollars includes works by famous artists like Picasso and Damien Hirst.

Philanthropy is a significant part of Pinault’s legacy. After the devastating fire at Notre Dame Cathedral in 2019, he pledged approximately $113 million for its restoration. He also founded the Pinault Collection, which aims to promote art and culture. His galleries in Venice, Palazzo Grassi, and Punta della Dogana, exhibit his art collection and support artistic initiatives.

Ranking	Names	Net worth
1	Bernard Arnault	$189.7 Billion
2	Amancio Ortega	$121.5 Billion
3	Giovanni Ferrero	$44.3 Billion
4	Klaus-Michael Kühne	$42.2 Billion
5	Alain Wertheimer	$41.2 Billion
6	Gerard Wertheimer	$41.2 Billion
7	Mark Mateschitz	$40 Billion
8	Dieter Schwarz	$37.2 billion
9	Gianluigi Aponte	$34.8 Billion
10	François Pinault	$22.7 billion

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Conclusion

The top 10 richest individuals in Europe in 2024 reflect the continent’s economic strength across various industries. Their wealth is generated from sectors such as luxury goods, fashion, food production, logistics, and retail. The presence of leaders from the luxury sector highlights the enduring appeal of high-end brands, while those from fast fashion and retail demonstrate the power of accessible consumer goods. Collectively, these people show how different wealth-generating opportunities exist and how various industries impact the European economy. 

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