Arnault is the richest man in fashion

Friday, 09 March 2012
Forbes have released its annual billionaire list and for the second year running, fashion’s richest man is LVMH chairman Bernard Arnault, who came in a number 4 on the list with his net worth valued at $41bn, which also made him the richest man in Europe.

Arnault was closely followed by founder of high street store Zara, Amancio Ortega who came fifth, with $37.5bn, and also in the top 10 billionaires was H&M chairman Stefan Persson, with $26bn.

One noted fashion name to be include on the list was Miuccia Prada, who has returned to the billionaire’s club for the first time in six years, ranked at 139 in the world, the Prada designer is worth $6.8bn. Miuccia is more than a 100 places higher than her husband and the brand’s CEO, Patrizio Bertelli, who only came in at 296 worth $3.7bn.

Other fashion names on the list include: François Pinault and his family, with a net worth of $13bn due to being the majority shareholder of PPR, the fashion conglomerate that owns high-end fashion houses including Gucci, Stella McCartney, Alexander McQueen and Yves Saint Laurent; Selfridges owner Galen Weston and his family with $7.6bn; Ralph Lauren with $7.5bn; Chanel owners Alain and Gerard Wertheimer with $7.5bn; Giorgio Armani with $7.2bn; Rosalia Mera, co-founder of Inditex with ex-husband Amanacio Ortega, remains Spain's richest woman, with $4.5bn; and Philip and Christina Green with $4.2bn came in at 255 in the world.

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