Source of Wealth:Chanel
Full Name:Alain and Gerard Wertheimer
Occupation:Owners of Chanel
About Alain and Gerard Wertheimer
Alain & Gerard Wertheimer are the owners of the French luxury brand Chanel and they has an estimated net worth of $22.5 billion each as of July 2018. The Wertheimer brothers are the 5th richest persons in France and are ranked 145th on the list of World Billionaires.
Chanel S.A., the French privately held company was founded in 1909 by their grandfather, Pierre Wertheimer who bought out his early partner, Gabrielle (Coco) Chanel, the company’s namesake. The high fashion brand specializes in haute couture and ready-to-wear clothes, luxury goods and fashion accessories. The product brands have been personified by fashion models and actresses including Inès de la Fressange, Catherine Deneuve, Carole Bouquet, Vanessa Paradis, Nicole Kidman, Anna Mouglalis, Lucía Hiriart, Hope Portocarrero, Audrey Tautou, Keira Knightley and Marilyn Monroe, who is an epitome of the independent, self-confident Chanel Girl.
Alain, who is based in the U.S., serves as the chairman of the company, while Gerard, who lives in Switzerland, is the head of the division of watches.
Aside from Chanel, Alain & Gerard also own two French vineyards, Rauzan-Ségla in Margaux and Chateau Canon in Saint-Emilion. They also own thoroughbred horses including stallions that won races such as the French Derby and the Breeders’ Cup Turf in the U.S. The Wertheimer brothers are very private and don’t give interviews to the press.