The annual Forbes World's Billionaires List for 2024 is here, and they are richer than ever.
"There are now more billionaires than ever: 2,781 in all, 141 more than last year and 26 more than the record set in 2021," Forbes reported.
"They’re richer than ever, worth $14.2 trillion in aggregate, up by $2 trillion from 2023 and $1.1 trillion above the previous record, also set in 2021."
But who made the cut from beauty? The list has revealed the beauty industry’s richest business owners.
Taking out the number one spot on the Forbes list for 2024, is LVMH chairman, Bernard Arnault who defended his title as the world’s richest man with a net worth of USD $233 billion.
LVHM owns 75 brands, including Parfums Christian Dior, Parfums Givenchy, Guerlain, Benefit Cosmetics, Make Up For Ever, and others in its perfume and cosmetics division.
Arnault out-ranks the richest tech billionaires including Elon Musk, Jeff Bezos, Mark Zuckerberg and Larry Ellison, who round out the top five.
Next, coming in at 15th is Francoise Bettencourt Meyers, the granddaughter of the founder of L'Oréal, making her the richest woman in the world (and in beauty), according to Forbes.
Bettencourt Meyers and her family have a net worth of USD $99.5 billion, and own more than a third of publicly traded L'Oréal.
Alain and Gerard Wertheimer, owners of French luxury brand, CHANEL, placed 40th on the Billionaires List, with a combined net worth of USD $36.8 billion.
Their grandfather, Pierre Wertheimer, founded CHANEL with Gabrielle (Coco) Chanel, the company's namesake.
Following on from the Wertheimer brothers at 54th is François Pinault, the honorary chairman of luxury group Kering, who is worth USD $31.6 billion.
He founded Kering, which started as a wood and building materials company, and pivoted into luxury goods when he bought a controlling stake in Gucci Group in 1999. Pinault's son, François-Henri, runs the company today, which includes Gucci, Balenciaga, Bottega Veneta, Yves Saint Laurent, Creed, and Alexander McQueen.
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 USD $15.6 billion. Hermès is primarily known as a fashion house, but in recent years has ventued into luxury cosmetics.
Leonard Lauder, chairman and heir to the Estée Lauder Companies cosmetics fortune, came in at 126th, with an estimated worth of USD $15.1 billion.
Kim Kardashian, whose net worth of USD $1.7 billion puts her at spot 1851 on the list.
The vast majority of Kardashian's wealth which comes from her stake in shapewear business, Skims. However, she did recently relaunch her make-up line under the SKKN brand in January 2024.
And rounding out beauty is Fenty founder, Rihanna who placed at 2152, worth USD $1.4 billion.
The singer and businesswoman, owns two billion-dollar brands – cosmetics company, Fenty Beauty, which she co-owns alongside luxury goods giant, LVMH, and lingerie company, Savage X Fenty.
You can view the full Forbes World's Billionaires List for 2024 here.
Header image source: Getty Images and hermes.com/au.
