Thanks to Hermès’ exceptional performance despite a struggling luxury market, its CEO, Axel Dumas, representing the seventh generation at the helm, has dethroned Bernard Arnault (LVMH) from the top spot in the Challenges ranking of France’s 500 richest people.
Axel Dumas has become the richest man in France.
The CEO of the Hermès group is much less well known to the general public than the man he has knocked off the top spot in the 2025 Challenges ranking of France’s 500 richest people. That man is Bernard Arnault, CEO of LVMH, who had held the title for eight years in a row.
A first in the Challenges ranking
This is a first for a member of the family that owns the saddle maker (with 67% of the capital) to top the Challenges ranking, which was established in 1996.
The news had been expected since April 15, when Hermès took LVMH’s place as the CAC 40’s largest company by market capitalization, with a valuation of €249 billion.
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Read also > Hermès remains resilient in the first quarter of 2025
Featured photo: © Hermès
