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Brothers Behind Chanel Worth $90 Billion After Massive Windfall

The Wertheimer brothers’ fortune has ballooned amid soaring demand for the company’s luxury goods.

Chanel handbags

Chanel handbags

Photographer: SeongJoon Cho/Bloomberg
Updated on

The family behind Chanel pocketed a $5 billion windfall last year as surging global demand for its luxury products lifted one of the world’s biggest multigenerational fortunes to new heights.

The Wertheimer family’s Cayman Islands-based holding company for Chanel received two $2.5 billion dividends in 2021, according to UK filings. It’s the biggest annual payout from the retailer of No. 5 perfume and little black dresses since it started publishing financial accounts.