Forbes’ 2024 Billionaires List has revealed the beauty industry’s richest business owners.
Claiming the number one spot is LVMH chairman Bernard Arnault, who defended his title as the world’s richest man.
The French business magnate’s wealth stands at US $233bn at the time of writing, over $35bn more than runner up Elon Musk.
LVMH is worth an estimated $448bn in 2024, and its portfolio includes some of the beauty industry’s most influential businesses.
These encompass names like Parfums Christian Dior, Fenty Beauty by Rihanna, Guerlain and Sephora.
Placing 15th on the list is Francoise Bettencourt Meyers, the granddaughter of L'Oréal founder Eugène Schueller.
She has a networth of $99.5bn, and is said to be the richest woman in the world.
Alain and Gerard Wertheimer, owners of French luxury brand Chanel, placed 40th on the Billionaires List, with a combined net worth of $36.8bn.
Alain Wertheimer currently serves as chairman of the French luxury brand, the Maison behind the widely recognised N°5 edp.
Following on from the Wertheimer brothers is François Pinault, honorary chairman of luxury group Kering, who is worth $31.6bn.
The luxury goods giant owns fashion brands Saint Laurent, Alexander McQueen and Gucci.
Nicolas Puech, the fifth-generation descendant of Hermès founder Thierry Hermes, is listed as the 121st richest person in the world, with a net worth of $15.6bn.
Hermès is primarily known as a fashion house, but also sells a robust selection of cosmetics products .
Leonard Lauder, current chairman and heir to the Estée Lauder Companies (ELC) cosmetics fortune, placed 126th in Forbes’ list.
He is worth an estimated $15.1bn.
Pop star Rihanna was also named in the Billionaires Rich List, and is worth $1.4bn in 2024.
The singer owns two billion-dollar brands, cosmetics company Fenty Beauty, which she co-owns alongside luxury goods giant LVMH, and lingerie company Savage X Fenty.
Rounding off the list is Kim Kardashian, whose net worth of $1.7bn has been fueled by her beauty and clothing brands.
While the reality star would go on to shutter KKW Beauty in 2021, she recently relaunched her make-up line under the SKKN brand in January 2024.
Kardashian sold 20% of KKW Beauty makeup company to Coty in 2020 for $200m.
