What's in the News: Bordeaux

France’s Wealthiest Wine Giants mostly from Bordeaux, no longer a level playing field

These are the millionaire giants that the small independent family wine producer have to compete against. They have the power and the distribution networks to take over markets. They are driving out the small Producer who makes their money uniquely from selling wine. Bordeaux is no longer a level playing field.

Bernard Arnault of LVMH – owner of Hennessy, Moët et Chandon  and Chateau Yquem – continues to head up the list of wealthiest wine owners in  France, according to the second annual roundup published in Challenges magazine  this week.

bernard arnault.j

Picture: Bernard Arnault
His fortune is listed at €1.5  billion, a slight rise from last year due to the appreciation in the value of  his vines. Arnault (through LVMH) also owns half of Chateau Cheval Blanc with  his friend and business associate Albert Frère, the wealthiest man in Belgium.

The Castel family, headed up by Pierre Castel and owners of  Castel Freres and 50% of Chateau Beychevelle, Chateau Beaumont, négociant  company Barrière Frères and wine merchants Nicolas is listed in second place,  with a fortune of €875 million.

Coming in third is Frédéric Rouzaud of Champagne Roederer,  owner of Chateau Pichon Longueville among others, with an €800 million fortune,  just in front of Philippine de Rothschild of Mouton Rothschild with €750  million.

Francois Pinault of Chateau Latour, Chateau Grillet and  Domaine d’Eugénie comes in sixth at €700 million, with fellow First Growth  owner Corinne Mentzelopoulos of Chateau Margaux at number 6,  with an estimated fortune of €600 million.

The rest of the top 10 places go to Christian and Jean-Francois  Moeuix (counted together, although their companies are in fact  separate) with €550 million, Bernard Magrez of Chateau Pape Clement with €525  million, and Michel Reybier of Cos d’Estournel with Benjamin de  Rothschild, of Chateau Clarke, each listed with a fortune of €450 million.

Each owner within the top 10 has seen a rise in estimated net worth over the  past 12 months, due to the rises in land values seen in their appellations.

The Challenges article lists the top 50 wine-related fortunes, and other  notable figures include Gerard Perse of Chateau Pavie at 12  (€375 million), Jean-Hubert Delon of Léoville Las Cases at 14  (€320 million) and Jean-Michel Cazes of Lynch Bages in 20th  spot (€260 million).

Baron Eric de Rothschild of Chateau Lafite Rothschild makes  an appearance at number 24, alongside both Jean Merlaut of  Gruaud Larose and Martin and Olivier Bouygues of Chateau  Montrose, all with an estimated net worth of €260 million.

At the lower reaches of the Top 50 come Daniel and Florence  Cathiard of Smith Haut Lafitte at 45 with €170 million, and  Didier Cuvelier of Léoville Poyferré at number 50 with a mere  €145 million.

www.decanter.com

About nicolle

Wine bod living in Bordeaux whose passion is finding authentic wines and getting them to your doorstep

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