24-04-2025
Francois Pinault's Wealth Slides as Heir Fails to Revive Gucci
Francois Pinault, the octogenarian founder of Kering SA, has seen his family's fortune drop by more than two-thirds since a pandemic-era boom as his son struggles to turn around the French luxury conglomerate's biggest brand, Gucci.
The 88-year-old Pinault's net worth has fallen by 69% to $18.6 billion from August 2021, according to the Bloomberg Billionaires Index. That's the largest decline over that period in dollar terms of anyone on the list, including Bernard Arnault, the founder of rival LVMH, which has also been hit by a drop in demand for high-end goods.
