No interviews, hardly any appearances: this is the richest man in Switzerland. Women are significantly worse off when it comes to occupational pension provision

72-year-old Gérard Wertheimer lives in seclusion with his wife Valérie in Cologny GE. Together with his brother Alain Wertheimer, he owns Chanel, one of the most famous luxury brands in the world. Gérard Wertheimer owns a 49 percent share in the company that his grandfather Pierre Wertheimer founded in 1913 together with world-famous fashion designer Coco Chanel. With success: the first Chanel boutique in Deauville, Normandy, has become a billion-dollar company.

The company records record sales for legendary perfumes, as well as fashion and jewelry. Sales have more than doubled in the past seven years, reaching more than $17 billion in 2022. Gérard Wertheimer is the European boss, with a focus on the watch industry.

With a fortune of almost 42 billion francs, Gérard Wertheimer is now one of the richest in Switzerland, the business magazine Balance calculated. Gérard Wertheimer’s fortune had already increased by nine billion last year, making him one of the biggest risers. This year another three billion were added.

His brother Alain is slightly richer, but lives in New York and is therefore not on the balance sheet ranking. Both avoid media hype and publicity. At fashion shows they sit in the third or fourth row. They decline interview requests. This is how they built a reputation as “the quietest billionaires in the fashion industry,” as Blick writes. As of this year, they also have a 5.1 percent stake in the investment bank Rothschild.

Deciduous trees obstruct the view of the site. The lawn is the size of a football field. The Wertheimer brothers also own prestigious wineries in France and California’s Napa Valley. Gérard Wertheimer’s great passion is racing horses. He runs a family business and a respected breeding farm. When he won a race with his brother, he even had the pleasure of meeting the Queen herself.

(rbu)