Richest People In Europe 2016

Europe bucked the trend that dominated the 2016 Forbes list of billionaires. Overall, the number of billionaires worldwide dropped slightly to 1,810 from 1,826 last year and their aggregate wealth declined to $6.48 trillion from $7.05 trillion in March 2015.  In Europe, however, the number of billionaires increased slightly to 489 from 482 a year ago. Their cumulative net worth did decline in lockstep with the trend, falling to $1.83 trillion from $1.9 trillion a year ago. 

Germany led the continent yet again. Its 120 billionaires, up from 103 last year, have an aggregate net worth of $469.1 billion. Russia followed with 77 billionaires, down 11 from last year due to falling oil prices and a weakened ruble. France has 39 billionaires, 8 fewer than a year ago; they are worth a combined $212 billion, $20 billion less than last year. On the other side of the channel, the United Kingdom lost 3 ten-figure fortunes in the last year; it has 50 billionaires worth $161.8 billion in total.

Taken together, Europe’s billionaires have a diverse portfolio of sectors and brands. Some have global empires,  including Amancio Ortega’s Inditex, parent of fashion retail chain Zara, and Liliane Bettencourt’s cosmetics powerhouse L’Oreal.

Anyone who has shopped Zara (or any of Amancio Ortega’s 8 brands) has contributed in some way to Amancio Ortega’s $67 billion retail empire. Ortega – the richest retailer of the world, and the second-richest man in the world – also owns a host of other retail chains and brands: Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Uterqüe. His net worth climbed $2.5 billion since 2015 due to gains in the value of his extensive real estate holdings.

L’Oreal’s Liliane Bettencourt, now the richest woman in the world with a fortune of $36.1 billion, is the 11th richest person in the world. In May 2015, a French court found 8 people guilty of taking advantage of her dementia. François-Marie Banier, a celebrity photographer, was sentenced to three years and ordered to pay Bettencourt $172 million. His appeal will be in May 2016.

German consumers have been spending more at the supermarket, and both billionaire branches of Albrecht family have benefited. Owners of the German discount chain ALDI, Theo Albrecht Jr. and family own Aldi Nord, which has discount supermarkets in northern Germany and owns the popular Trader Joe’s grocery chain in the U.S.; his net worth climbed to $20.3 billion, up from $19 billion a year ago. His cousin Beate Heister & Karl Albrecht Jr. own Aldi Sued, with discount markets in southern Germany and about 1,500 Aldi supermarkets in the U.S. as well. Heister & Karl Jr. are worth $25.9 billion, up from $21.3 billion in 2015. The Aldi chain was started by brothers Karl and Theo Albrecht Sr., who later split the empire in two; both of the brothers are deceased and their children own the respective branches.

There are 70 women billionaires in Europe, more than in the United States, which has 65.  Susanne Klatten, third richest female billionaire in Europe, ranks 9th in the region (and 38th in the world) with a fortune of $18.5 billion. Though the BMW stock dropped 30% over the past year, Klatten’s net worth increased by $4 billion due to additional BMW shares that were secretly transferred to her by her mother, Johanna Quandt, in 2003, 2005 and 2008. The transfers didn’t come to light until after her mother’s death in August 2015.

Other female European billionaires include Miuccia Prada, candy empire Ferrero’s Maria Franca Fissolo (widow of Michele Ferrero, who died in 2015), and Charlene de Carvalho-Heineken, who controls 25% of the Dutch brewer Heineken.

Below is the full list of the richest in Europe:

1. Amancio Ortega

Net Worth: $67 B

Origin of Wealth: Zara

Citizenship: Spain

2. Liliane Bettencourt

Net Worth: $36.1 B

Origin of Wealth: L’Oreal

Citizenship: France

3. Bernard Arnault

Net Worth: $34 B

Origin of Wealth: LVMH

Citizenship: France

4. Beate Heister & Karl Albrecht Jr.

Net Worth: $25.9 B

Origin of Wealth: supermarkets

Citizenship: Germany

5. Maria Franca Fissolo

Net Worth: $22.1 B

Origin of Wealth: Nutella, Chocolates

Citizenship: Italy

6. Stefan Persson

Net Worth: $20.8 B

Origin of Wealth: H&M

Citizenship: Sweden

7. Theo Albrecht

Net Worth: $20.3 B

Origin of Wealth: Aldi, Trader Joe’s

Citizenship: Germany

8. Leonardo Del Vecchio

Net Worth: $18.7 B

Origin of Wealth: eyeglasses

Citizenship: Italy

9. Susanne Klatten

Net Worth: $18.5 B

Origin of Wealth: BMW, pharmaceuticals

Citizenship: Germany

10. Georg Schaeffler

Net Worth: $18.1 B

Origin of Wealth: ball bearings

Citizenship: Germany