Europeans are not always comfortable talking about wealth. But in the past few years, things have begun to shift. Today, Europe boasts seven of the top 25 richest people in the world. We take a look at how they earned their money.
In many European societies it is considered poor manners to talk about money and wealth. But as the European Union spreads its wings and becomes a world economic power, some of the EU’s most powerful entrepreneurs have joined the ranks of the world’s billionaires. We’ve included only entrepreneurs, thus leaving inherited fortunes out of the mix. Surprisingly, none of the top five come from the internet or technology sectors.
1. Ingvar Kamprad and Family
Net worth: 23 billion euros
Company/Industry: Ikea,
Sweden
Started his career selling matches, fish and pens. Founded a furniture company in 1947. Now his company, Ikea, which sells minimalist, functional designs for the cost conscious, is one of the most beloved retailers in the world. Ikea has stores in 34 countries. They opened their first store in Japan last year and continue to expand into new markets such as China. Mr. Kamprad avoids wearing suits, flies economy class and frequents cheap restaurants.
2. Bernard Arnault
Net worth: 18 billion euros
Company/Industry: LVMH, Luxury Goods
France
Mr. Arnault did inherit a small family fortune. But he proved an astute entrepreneur when he took a big risk and invested $15 million from his family's midsize construction firm to buy Christian Dior in 1985. Since then, he has built the world's largest luxury goods empire, LVMH : Moet Hennessy Louis Vuitton, whose brands also include Dom Pérignon, Fendi and Tag Heuer. Arnault still heads the company, which is expanding rapidly in China, Russia and India. Last year, he opened a four-star hotel, Le Cheval Blanc, in Courchevel, the French ski resort, where he often spends New Year's Eve. He is said to be a skilled pianist.