Europe remains home to some of the world’s largest private fortunes. The continent’s richest men have built or inherited wealth through luxury goods, fashion, cryptocurrency, supermarkets, confectionery, financial technology, energy drinks and other major industries.
For consistency, this article primarily uses figures from the Forbes 2026 World’s Billionaires list, which measured fortunes using stock prices and exchange rates from March 1, 2026. Forbes reported a record 3,428 billionaires worldwide with a combined wealth of $20.1 trillion. (Forbes)
One important update is necessary. German logistics billionaire Klaus-Michael Kühne appeared on the 2026 Forbes list with a fortune of $41.9 billion, but Forbes now records him as deceased after his death in August 2026. He is therefore not included in this ranking of living European men. (Forbes)
1. Bernard Arnault & Family — $171 Billion
Country: France
Main source of wealth: Luxury goods
2026 Forbes net worth: $171 billion
Bernard Arnault was the richest man in Europe on Forbes’ 2026 annual billionaire list, with an estimated fortune of $171 billion.
He also ranked seventh among the richest people in the world. (Forbes)
Arnault is chairman and chief executive of LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury-goods group.
The company controls dozens of prestigious brands across fashion, jewellery, watches, cosmetics, wine and spirits. Its portfolio includes Louis Vuitton, Christian Dior, Sephora, Bulgari, Tiffany & Co., Givenchy, Fendi and Moët & Chandon.
Forbes notes that Arnault began building his luxury empire after using money from his family’s construction business to acquire Christian Dior in 1984. His five children are all involved in businesses within the LVMH group. (Forbes)
Arnault’s fortune has moved significantly since the annual ranking. Forbes estimated his real-time wealth at approximately $143.3 billion on August 28, 2026, demonstrating how market movements can affect billionaire rankings. (Forbes)
2. Amancio Ortega — $148 Billion
Country: Spain
Main source of wealth: Fashion retail and real estate
2026 Forbes net worth: $148 billion
Spanish businessman Amancio Ortega ranked second among Europe’s richest men with a fortune of approximately $148 billion on Forbes’ annual 2026 list. (Forbes)
Ortega cofounded Inditex, the company best known as the owner of Zara.
He and his former wife, Rosalía Mera, founded the business that became Zara in 1975. Inditex subsequently developed into one of the world’s largest fashion retailers.
Forbes reports that Ortega owns approximately 60% of Inditex. The group also controls brands including Massimo Dutti and Pull&Bear and operates thousands of stores around the world. (Forbes)
Ortega has invested large amounts of the dividends generated from Inditex into commercial property in major cities in Europe and North America.
Unlike several billionaires whose fortunes declined after Forbes compiled its annual ranking, Ortega’s fortune remained close to its March level. Forbes estimated his real-time net worth at about $148.9 billion on August 29, 2026. (Forbes)
3. Giancarlo Devasini — $89.3 Billion
Country: Italy
Main source of wealth: Cryptocurrency
2026 Forbes net worth: $89.3 billion
Italian businessman Giancarlo Devasini became one of Europe’s richest individuals after Forbes sharply increased its estimate of the value of his stake in cryptocurrency company Tether.
Forbes estimated Devasini’s fortune at $89.3 billion in its updated 2026 billionaire calculations. He was also identified by Forbes as Italy’s richest billionaire. (Forbes)
Devasini is chairman and is believed to be the largest individual shareholder of Tether, the company behind USDT, the world’s largest stablecoin by circulation.
Forbes estimates that Devasini owns approximately 45% of Tether. (Forbes)
Tether earns substantial income from assets backing its stablecoin, much of which has been invested in U.S. Treasury securities and other financial assets.
Forbes reported that Tether generated more than $10 billion in profit in 2025, helping to support the enormous valuation placed on Devasini’s ownership stake. (Forbes)
His rise is one of the most significant changes in Europe’s billionaire rankings in recent years.
4. Dieter Schwarz — $67.2 Billion
Country: Germany
Main source of wealth: Retail
2026 Forbes net worth: $67.2 billion
German retail billionaire Dieter Schwarz had an estimated fortune of $67.2 billion on Forbes’ 2026 annual list, making him Germany’s richest person at the time. (Forbes)
Schwarz controls Schwarz Group, the retail organisation behind Lidl and Kaufland.
The company has become one of Europe’s largest retail groups.
Forbes reports that Schwarz inherited the company from his father, Josef Schwarz. Dieter opened the first Lidl store in 1973 and became chief executive after his father died in 1977. (Forbes)
Under his leadership, Lidl expanded across Europe and into several international markets.
Forbes states that Schwarz Group generates more than $200 billion in annual revenue and employs approximately 500,000 people. (Forbes)
His real-time fortune stood at approximately $64.3 billion in late August 2026.
5. Giovanni Ferrero — $48.8 Billion
Country: Italy
Main source of wealth: Confectionery
2026 Forbes net worth: $48.8 billion
Giovanni Ferrero had an estimated net worth of $48.8 billion in Forbes’ 2026 annual ranking. (Forbes)
Ferrero is executive chairman of his family’s global confectionery company, Ferrero Group.
The business is responsible for some of the world’s best-known confectionery brands, including Nutella, Kinder and Tic Tac.
Forbes reports that Ferrero Group generates approximately $20 billion in annual sales. (Forbes)
Giovanni previously served as co-chief executive alongside his brother Pietro. After Pietro died in 2011, Giovanni eventually became sole CEO before stepping down from that role in 2017 while remaining executive chairman.
Ferrero has also expanded through major acquisitions.
The company bought Nestlé’s U.S. confectionery business for $2.8 billion in 2018 and acquired WK Kellogg, the company behind brands including Corn Flakes and Rice Krispies, for approximately $3.1 billion in 2025. (Forbes)
6. Mark Mateschitz — $45.8 Billion
Country: Austria
Main source of wealth: Red Bull
2026 Forbes net worth: $45.8 billion
Austrian billionaire Mark Mateschitz was worth approximately $45.8 billion on Forbes’ 2026 annual list. (Forbes)
He is the only child of the late Dietrich Mateschitz, who cofounded Red Bull with Thai businessman Chaleo Yoovidhya.
Following his father’s death in 2022, Mark inherited his father’s 49% stake in Red Bull. (Forbes)
Rather than assuming a day-to-day executive role, Mateschitz stepped away from his previous employment at the company to concentrate on his responsibilities as a shareholder.
Red Bull has grown far beyond its original energy-drink business.
The brand is also heavily involved in Formula One, football, extreme sports and other global marketing activities.
Forbes estimated Mateschitz’s real-time fortune at approximately $45.2 billion on August 27, 2026. (Forbes)
7. Andrea Pignataro — $42.6 Billion
Country: Italy
Main source of wealth: Financial software and data
2026 Forbes net worth: $42.6 billion
Italian entrepreneur Andrea Pignataro had an estimated fortune of approximately $42.6 billion in Forbes’ 2026 billionaire ranking. (Forbes Slovensko)
Pignataro is founder and chief executive of ION Group, a major financial-data and technology company.
He founded the business in 1998 while working as a bond trader at Salomon Brothers.
ION subsequently expanded by acquiring numerous financial technology and data businesses, including Dealogic and Fidessa.
Forbes describes the group as operating across five principal areas: markets, analytics, core banking, corporations and credit information. (Forbes)
Pignataro also owns luxury properties and hospitality assets.
His real-time fortune remained close to the annual figure, at approximately $42.1 billion in late August 2026. (Forbes)
8. Alain Wertheimer — Approximately $39.4 Billion
Country: France
Main source of wealth: Chanel
Estimated 2026 net worth: $39.4 billion
French billionaire Alain Wertheimer is one of the two brothers who own Chanel, one of the world’s most famous luxury fashion houses.
Forbes estimated his fortune at approximately $39.4 billion in late August 2026. (Forbes)
Alain serves as chairman of Chanel.
The Wertheimer family’s association with Chanel dates back to the 1920s, when their grandfather Pierre Wertheimer entered into business with Gabrielle “Coco” Chanel.
Alain and his younger brother Gérard eventually inherited control of the company.
In addition to Chanel, the brothers have investments in vineyards and thoroughbred horse breeding. (Forbes)
Because Chanel is privately held, estimates of the brothers’ fortunes depend substantially on Forbes’ assessment of the company’s value rather than a publicly quoted share price.
9. Gérard Wertheimer — Approximately $39.4 Billion
Country: France
Main source of wealth: Chanel
Estimated 2026 net worth: $39.4 billion
Gérard Wertheimer, Alain Wertheimer’s brother, also has an estimated fortune of approximately $39.4 billion. (Forbes)
The brothers jointly own Chanel.
While Alain chairs the luxury company, Forbes reports that Gérard oversees its watch division.
The Wertheimer family fortune represents one of Europe’s largest private luxury-business holdings.
Chanel remains privately owned, unlike many other major European luxury companies whose shares trade publicly.
The brothers have also invested in wine estates in France and California and are involved in breeding and racing thoroughbred horses. (Forbes)
Because Alain and Gérard are each assigned the same estimated fortune, they effectively share the same position by wealth.
10. Paolo Ardoino — $38 Billion
Country: Italy
Main source of wealth: Cryptocurrency
2026 estimated net worth: $38 billion
Italian technology executive Paolo Ardoino completes this list with an estimated fortune of $38 billion. (Forbes)
Ardoino is chief executive of Tether, the cryptocurrency company that also generated Giancarlo Devasini’s much larger fortune.
He began his career as a computer programmer and joined Tether’s sister company, Bitfinex, as a software developer in 2014.
Forbes estimates that Ardoino owns approximately 20% of Tether. (Forbes)
His fortune rose sharply as Forbes revised its valuation of the privately held cryptocurrency company.
Because Tether is not publicly traded, Ardoino’s net worth is necessarily more difficult to calculate than wealth tied directly to shares listed on a stock exchange.
Top 10 Richest Men in Europe at a Glance
| Rank | Name | Country | Main source of wealth | 2026 estimated net worth |
|---|---|---|---|---|
| 1 | Bernard Arnault & family | France | LVMH/luxury goods | $171 billion |
| 2 | Amancio Ortega | Spain | Zara/Inditex | $148 billion |
| 3 | Giancarlo Devasini | Italy | Tether/cryptocurrency | $89.3 billion |
| 4 | Dieter Schwarz | Germany | Lidl/Kaufland | $67.2 billion |
| 5 | Giovanni Ferrero | Italy | Ferrero confectionery | $48.8 billion |
| 6 | Mark Mateschitz | Austria | Red Bull | $45.8 billion |
| 7 | Andrea Pignataro | Italy | Financial technology | $42.6 billion |
| 8 | Alain Wertheimer | France | Chanel | $39.4 billion |
| 9 | Gérard Wertheimer | France | Chanel | $39.4 billion |
| 10 | Paolo Ardoino | Italy | Tether/cryptocurrency | $38.0 billion |
The 10 fortunes above total approximately $729.5 billion.
Why Klaus-Michael Kühne Is Not Included
Readers familiar with Forbes’ March 2026 billionaire ranking may notice the absence of German logistics billionaire Klaus-Michael Kühne.
Forbes valued Kühne at $41.9 billion for its 2026 World’s Billionaires list. That would have placed him among Europe’s 10 wealthiest men. (Forbes)
However, Forbes now identifies Kühne as deceased, reporting that he died in August 2026 at age 89.
Because this article is being updated after his death, it would be misleading to include him in a list of the richest living men in Europe.
His exclusion moves Paolo Ardoino into the top 10.
Italy Has Become Particularly Important in Europe’s Billionaire Rankings
One particularly interesting feature of the 2026 list is Italy’s strong representation.
Four of the 10 men in this ranking are Italian citizens:
Giancarlo Devasini, Giovanni Ferrero, Andrea Pignataro and Paolo Ardoino.
Forbes reported that Italy had 89 billionaires with a combined fortune of approximately $483 billion in its 2026 country analysis. Giancarlo Devasini was identified as the country’s wealthiest billionaire. (Forbes)
Two of Italy’s largest fortunes, Devasini and Ardoino, are now directly connected to cryptocurrency company Tether.
This represents a major shift from older European billionaire rankings, which were dominated more heavily by traditional retail, luxury goods, manufacturing and industrial fortunes.
Luxury Goods Remain a Major Source of European Wealth
Luxury remains one of the defining industries behind Europe’s largest fortunes.
Bernard Arnault controls LVMH, while Alain and Gérard Wertheimer own Chanel.
Fashion retail also created Amancio Ortega’s enormous fortune through Zara and Inditex.
Together, Arnault, Ortega and the Wertheimer brothers account for hundreds of billions of dollars in estimated wealth.
This demonstrates the extraordinary global economic value of European luxury and fashion brands.
Why Billionaire Figures Can Change So Quickly
Billionaire net worth is not equivalent to money held in a bank account.
Most fortunes on this list consist primarily of shares in publicly traded companies or estimated ownership stakes in private businesses.
For example, Bernard Arnault was valued at $171 billion for Forbes’ annual 2026 ranking but at approximately $143.3 billion by August 28. (Forbes)
Amancio Ortega, by contrast, remained close to his annual valuation, with Forbes estimating his fortune at approximately $148.9 billion on August 29. (Forbes)
Forbes’ real-time billionaire tracker changes as stock markets move and new valuations become available. (Forbes)
Private companies create an additional challenge.
Tether, Chanel and Ferrero are not valued every second by public stock exchanges, so Forbes must estimate their value using financial information, transactions and comparisons with similar businesses.
A Note on Russia and the Definition of Europe
Russia spans both Europe and Asia.
For consistency, this article does not add Russian billionaires to the European ranking simply because part of Russia lies geographically in Europe. Forbes lists Russia separately as a country, and the boundary between European and Asian classifications can otherwise create inconsistent results.
Forbes reported that Russia had 147 billionaires in 2026 and identified Alexey Mordashov & family as the country’s wealthiest, at approximately $37 billion. (Forbes)
Even if Russia were included, Mordashov’s $37 billion annual fortune would fall just below the $38 billion estimate for Paolo Ardoino used for the final position in this ranking.
Conclusion
Bernard Arnault remains Europe’s richest man according to Forbes’ 2026 annual billionaire calculations, with an estimated fortune of $171 billion.
He is followed by Spanish fashion billionaire Amancio Ortega at $148 billion and Italian Tether chairman Giancarlo Devasini at $89.3 billion.
Germany’s Dieter Schwarz follows at $67.2 billion, while fortunes associated with Ferrero, Red Bull, ION Group, Chanel and Tether complete the top 10.
The ranking also shows how the sources of extreme wealth in Europe are evolving.
Traditional sectors such as luxury goods, fashion, food and retail remain enormously important, but technology and cryptocurrency have produced several new multibillion-dollar fortunes.
As with every billionaire ranking, however, the numbers should be viewed as estimates at particular points in time rather than permanent measurements.
Disclaimer
This article is provided for general informational and educational purposes only.
Net worth figures are estimates based primarily on Forbes’ 2026 World’s Billionaires ranking and subsequent Forbes updates. Forbes’ annual list used stock prices and exchange rates from March 1, 2026, while some private-company valuations were subsequently updated.
Billionaire net worth should not be interpreted as cash held personally by the individuals listed. Much of their wealth consists of ownership in publicly traded companies, private businesses, property and other investments.
Fortunes can change substantially as stock prices, currency values, private-company valuations, business transactions and ownership structures change.
Klaus-Michael Kühne appeared on Forbes’ annual 2026 list but has been excluded from this article because Forbes reports that he died in August 2026.
The information in this article was checked against credible publicly available sources at the time of writing. Readers are encouraged to independently fact-check the figures and consult Forbes, corporate filings and other authoritative financial sources for the latest information.
This article does not constitute financial, investment, tax or legal advice.
For corrections, updates or modifications, please contact us.
References
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Forbes. (2026b). Amancio Ortega. Forbes. (Forbes)
Forbes. (2026c). Andrea Pignataro. Forbes. (Forbes)
Forbes. (2026d). Bernard Arnault & family. Forbes. (Forbes)
Forbes. (2026e). Dieter Schwarz. Forbes. (Forbes)
Forbes. (2026f). Gérard Wertheimer. Forbes. (Forbes)
Forbes. (2026g). Giancarlo Devasini. Forbes. (Forbes)
Forbes. (2026h). Giovanni Ferrero. Forbes. (Forbes)
Forbes. (2026i). Klaus-Michael Kühne. Forbes. (Forbes)
Forbes. (2026j). Mark Mateschitz. Forbes. (Forbes)
Forbes. (2026k). Paolo Ardoino. Forbes. (Forbes)
Forbes. (2026, March 11). The countries with the most billionaires 2026. Forbes. (Forbes)
Peterson-Withorn, C. (2026, March 10). Forbes World’s Billionaires list 2026: The top 200. Forbes. (Forbes)
