Gérard Paul Philippe Wertheimer is a French billionaire businessman who was born on April 17, 1951, and lives in New York City and Geneva. He and his brother Alain jointly own Chanel.
Gérard Wertheimer’s Net Worth and Wealth:
The Bloomberg Billionaires Index estimated Wertheimer’s net worth at $40 billion in October 2022, making him the 27th richest person in the world. Gerard Wertheimer has about $45 billion in assets. A dividend from his business and his salary as CEO account for almost all of this.
Two years ago, it is thought that he had a net worth of about thirty billion dollars. However, since the pandemic broke out, every company, including his own, has lost money. He says that by 2023, the company will recover from this loss and start moving forward.
Family Business: House of Chanel
Gérard Wertheimer is one of the world’s top 20 wealthiest people. Not only that, but he is also one of France’s five richest people and one of Europe’s ten richest people. 1951 marked his birth in Paris. His grandfather started a business called House of Chanel about 45 years before he was born.
After his grandfather left, his father took over this business, and two years later, Gerard Wertheimer brought his younger brother into the fold as well. You might not be aware that his brother also has a net worth of around $25 billion.
The fact that this company employs more than 20,000 people worldwide indicates the size of their respective businesses. In addition, this business has generated approximately 15 billion dollars in revenue over the past five years. The pandemic, rather than the company’s financial situation, has been blamed for some of the stock declines that have occurred in recent days for this company.
The fact that the company’s turnover has increased ten times more than it did under his father’s leadership demonstrates Gerard Wertheimer and his brother’s success. Gerard Wertheimer is of the opinion that his father gave him this business. They want this business to be run by their children after they die. Who will now lead this business? Only time will tell.
Facts You Need To Know:
- Chanel is owned by Gerard Wertheimer and his brother Alain.
- Gerard lives in Switzerland and is the head of the company’s watch division.
- In the 1920s, Gabrielle (Coco) Chanel, the company’s founder, and Pierre, his grandfather, formed a partnership.
- Gerard and his brother operate vineyards in Napa Valley, California, as well as in France.
