From Louis Vuitton to Zara, These Are the World's Richest People in the Fashion and Retail Industry

According to *Forbes Real Time Billionaires*, Bernard Arnault, CEO and Chairman of Moët Hennessy Louis Vuitton (LVMH), is listed as the world's richest person in the fashion and retail industry as of December 11, 2023.

Bernard Arnault and his family's net worth is estimated at US$197.2 billion during that period. This also makes him the second richest person in the world overall.

The French businessman oversees LVMH's business empire and 75 fashion and cosmetic brands, including Louis Vuitton and Sephora. *Forbes* mentions that LVMH acquired the American jewelry company, Tiffany & Co., in 2021 for $15.8 billion—the largest luxury brand acquisition ever.

In second place is Amancio Ortega with a net worth of US$95 billion. He is the founder of Inditex, the Zara fashion business network, which he established with his wife in 1975.

Amancio owns approximately 60% of Inditex's shares, listed in Madrid, Spain, which oversees 8 other fashion brands including H&M, Pull & Bear, Bershka, and Massimo Dutti.

Then Françoise Bettencourt Meyers and her family follow in third place. The net worth of the L'Oréal heiress family is US$94.7 billion. In addition to L'Oréal, the Meyers family company also owns other beauty brands, namely Maybelline, NYX, Cerave, and Garnier.

Here is a list of the 10 richest people in the world in the fashion and retail industry as of December 11, 2023:

1. Bernard Arnault and family (LVMH): US$197.2 billion
2. Amancio Ortega (Zara): US$95 billion
3. Françoise Bettencourt Meyers and family (L'Oréal): US$94.7 billion
4. Jim Walton and family (Walmart): US$64.1 billion
5. Rob Walton and family (Walmart): US$63.4 billion
6. Alice Walton (Walmart): US$59.1 billion
7. Dieter Schwarz (Schwarz Group): US$48.3 billion
8. Phil Knight and family (Nike): US$45.1 billion
9. Tadashi Yanai and family (Uniqlo): US$36.7 billion
10. Alain Wertheimer (Chanel): US$35 billion

Boycott Calls

The British news portal, *The Witness*, compiled a list of brands affiliated with Israel that are targets of boycotts. Of the 10 richest people in the world in the fashion and retail industry, all their companies—except Uniqlo—are boycott targets.

Most recently, Zara has become a new target of boycotts from global netizens after releasing its latest advertising campaign, which is considered to be mocking the humanitarian crisis in Palestine.

In photos of its latest collection titled 'ZARA Atelier Collection 04', Amancio Ortega's company used props in the form of statues with missing limbs.

In addition, there is one photo showing a model carrying a mannequin wrapped in white plastic that looks like a shrouded corpse. This controversial photo has now been removed from Zara's official website and social media.

(See also: 10 Largest Fashion Companies in the World, Majority from the US)