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Meet the Wertheimers, the secretive French brothers worth $96 billion who control Chanel, own vineyards in France and Napa Valley, and breed racehorses

Meira Gebel, Libertina Brandt, and Avery Hartmans

Updated

2023-05-20T17:45:00Z

Alain and Gerard Wertheimer — The brothers have a combined net worth of $96 billion.

The Wertheimer fortune dates back to 1920s Paris when Pierre Wertheimer funded designer Coco Chanel.
His grandsons, brothers Alain and Gerard Wertheimer, control Chanel and are worth about $96 billion.
The brothers own three vineyards in France and Napa Valley, and breed and race thoroughbreds.

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Alain, 74, and brother Gerard Wertheimer, 71, both have fortunes worth $48 billion for a combined net worth of $96 billion.

Alain and Gerard Wertheimer — Alain Wertheimer and his brother, Gerard, attend the Prix de Diane Longines at Hippodrome de Chantilly on June 12, 2011 in Chantilly, France.

Source: Bloomberg

Their wealth stems from their grandfather's acquisition of French fashion house Chanel. Back in 1925, their grandfather, Frenchman Pierre Wertheimer, and his brother Paul, struck a deal with Gabrielle "Coco" Chanel.

Pierre Wertheimer — Pierre Wertheimer with the trophy after his horse, Lavandin, won the Epsom Derby on June 6, 1956.

Source: The New York Times

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They founded Société des Parfums Chanel with the aim of selling and producing Chanel beauty products. Chanel herself saw it as an opportunity to get her signature fragrance, Chanel No. 5, into the hands of more customers.

coco chanel 1929 — Coco Chanel in 1929.

Source: The New York Times

Before 1924, the fragrance was only available to exclusive clientele at Chanel's Paris boutiques.

Chanel No 5 — A bottle of Chanel No. 5.

Source: The New York Times

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Chanel was a Nazi sympathizer and was well-connected in the world of prominent Nazis. She dated a Gestapo spy and appeared to have worked as an informant during World War II, though she was never charged.

Coco Chanel lounging on a couch in front of bookshelves — Gabrielle "Coco" Chanel relaxes in her book-lined studio above her Paris salon on April 21, 1954.

Source: PBS

In 1941, Chanel tried to legally wrest control of the company from Pierre Wertheimer. The Wertheimers were Jewish and, at that time, owned over 50% of the fashion house. Chanel attempted to use a law that banned Jews from owning businesses.

coco chanel — An undated photo of French fashion designer Gabrielle "Coco" Chanel.

Source: The Guardian

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But Chanel was unsuccessful, as the Wertheimers had secretly handed off their stake to another French businessman before fleeing France during the Nazi occupation. In 1954, Pierre Wertheimer took full control of the company in exchange for promising to pay Coco Chanel's bills and taxes from then on. She died 17 years later.

People sit in crowded space watching model wearing Chanel walk down runway — A Chanel fashion show in 1971.

Source: The Guardian, Bloomberg

Pierre died in the 1960s, and control of the company passed to his son, Jacques. In 1973, at 25 years old, Jacques' son Alain convinced the board of trustees to let him take over the company.

GettyImages 182586214 — Alain Wertheimer in 2013.

Source: The New York Times

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The brothers assumed the roles of co-owners of the House of Chanel in 1996. Alain serves as chairman while Gerard heads the company's watch division from his home in Geneva. They are the third generation to run the over 110-year-old company.

alain and gerard wertheimer.JPG — Alain and Gerard Wertheimer.

Source: Forbes, The New York Times

The New York Times once described the brothers as "fashion's quietest billionaires." Gerard told The Times' magazine in 2002 that the family prefers being discreet. "It's about Coco Chanel. It's about Karl [Lagerfeld]. It's about everyone who works and creates at Chanel. It's not about the Wertheimers," he said at the time.

Alain and Gerard Wertheimer — Gerard, left, and Alain Wertheimer at the Prix de l'Arc de Triomphe at the Hippodrome de Longchamp in 2006.

Source: The New York Times Magazine, The New York Times

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