When it comes to luxury fashion, few brands are as recognizable as Chanel. Founded by the legendary designer Coco Chanel, the iconic brand has become synonymous with timeless elegance and sophistication.
But have you ever wondered just how much the owner of Chanel is worth? Let’s take a closer look.
Firstly, it’s important to note that Chanel is not a publicly traded company, meaning that there is no one owner in the traditional sense. Instead, the brand is owned by a private company called Chanel Limited, which is held by members of the Wertheimer family.
The Wertheimer family has been involved with Chanel since 1924 when Coco Chanel first approached brothers Pierre and Paul Wertheimer to invest in her company. In exchange for their investment, the brothers were given a 70% stake in the business, with Coco herself retaining just 10%. Over time, the Wertheimers bought out other investors and eventually gained full control of the brand.
Today, Chanel Limited is run by brothers Alain and Gerard Wertheimer, who are both billionaires in their own right. According to Forbes’ 2021 list of billionaires, Alain Wertheimer has a net worth of $26 billion while Gerard Wertheimer has a net worth of $24 billion.
Despite being among the richest people in the world, both brothers maintain a relatively low profile and are known for their discretion when it comes to their personal lives and business dealings. In fact, little is known about how they choose to spend their vast fortunes or what their day-to-day lives entail.
Of course, it’s worth noting that neither Alain nor Gerard can claim ownership of all of Chanel’s assets outright. The brand itself is valued at around $13 billion according to Forbes’ estimates, but this includes everything from physical assets like stores and factories to intangible assets like trademarks and branding.
In conclusion, while we may never know exactly how much the owner of Chanel is worth, it’s clear that the Wertheimer family has built an incredibly successful and valuable brand over the years. And with their continued leadership, it’s likely that Chanel will remain a fixture in the world of luxury fashion for many years to come.