Publications
Partners
Paris - The economic crisis in France has spared the super rich, according to a survey published Thursday, which showed the combined wealth of the country's 500 richest people up nearly 25% in the last year.
Challenges magazine's 2013 ranking of the country's biggest fortunes estimated the top 500 earners to have combined assets of €330bn ($423bn), the highest level since the ranking began in 1996.
The 500 richest people accounted for 16% of gross domestic product and 10% of the total financial assets of the French, meaning one-hundredth-thousandth of the population controlled one-tenth of the nation's wealth.
"It's enough to make you dizzy and to lend arguments to a country that has always hated the rich, especially in times of crisis," Challenges wrote.
Keeping his top spot was the boss of luxury goods conglomerate LVMH, Bernard Arnault, who was estimated to be worth €24.3bn.
Second came Liliane Bettencourt, the elderly heiress to the L'Oreal cosmetics fortune, with an estimated fortune of €23.2bn.
Luxury goods, defence, retail, telecommunications and wines and spirits were all represented in the Top 10.
Bertrand Puech, chief executive of high-end handbags-maker Hermes and the Hermes family were ranked fourth behind Gerard Mulliez, founder of Auchan supermarket chain, and his family.
Of the richest 500, 55 were billionaires, 10 more than in 2012.
The statistics showed the 10 wealthiest people getting richer faster than others in the elite club, meaning more wealth concentrated in the hands of a few.
The Top 10 accounted for 40% of the riches of the Top 500, up from 25% in 1996.
The survey was likely to reignite debate about whether France's highest earners are sharing the burden of the crisis.
President Francois Hollande's attempts to push through a 75% super tax on top earners last year was condemned by business leaders, who warned of an exodus of top talent if it passed.
He was eventually forced to abandon the proposal after it was struck down by the Constitutional Council.
