The 25 Richest People In Europe – 2020 Updated Ranking

Europe is the world’s second-smallest continent by surface area, but on the other hand, its economy is the largest on Earth. This is hardly a surprise as most of the countries of the continent are first-world nations. As Europe has prospered over the centuries, some families and individuals have made the best of it, accumulating billions in the process through a vast range of business endeavors. The continent was once home to the world’s richest woman, Liliane Bettencourt. The list below is made up of the 25 richest people in Europe according to Forbes. These are people who have made wealth from different industries and different countries in the continent.

Meet The Richest People In Europe As of 2020

25. Pallonji Mistry ($11.1 Billion) – Mumbai, India

Source of Wealth: Construction

Pallonji Shapoorji Mistry is an Irish Indian construction tycoon and chairman of Shapoorji Pallonji Group. According to Forbes, his wealth was estimated to be $15.6 billion as of May 2015. But currently, he’s worth just over $11 billion and is the 117th richest person in the world. Pallonji is the single largest shareholder in Tata Group. He is also the former Chairman of Associated Cement Companies.

24. Stefan Quandt ($12.3 Billion) – Germany

Source of Wealth: BMW

A German engineer and industrialist, Stefan Quandt was once ranked as the 66th richest person in the world in Forbes list of billionaires. At that spot, it was estimated that he was worth $15.8 billion. Like almost everyone on this list of richest people in Europe, things have changed for Stefan who is now the 98th richest person in the world with his fortune dropping to $12.3 billion in 2020.

23. Hinduja Brothers (12.9 Billion) – London, England

Source of Wealth: Diversified

Srichand, Gopichand, Prakash, and Ashok are better known as the Hinduja brothers and they run the Hinduja Group, a multinational conglomerate that thrives in various businesses that range from cable television to banking, truck, lubricants, and what have you.

Often described as Indian-born British billionaires, the brothers are relentless business magnates and this has bettered their fortune over the years. As of 2020, they are regarded among the richest people in Europe and the United Kingdom with a wealth estimated at $12.9 billion.

22. Mikhail Fridman ($13 Billion)n – London, England

Source of Wealth: Oil, Banking, and Telecom

Mikhail Maratovich Fridman is a Russian businessman of Ukrainian Jewish descent. He is the Chairman of the Supervisory Board of Alfa Group Consortium, which is now one of Russia’s largest privately-owned investment groups. His wealth was once assessed by Forbes to be $15.4 billion, making him the richest person in Russia. This is no longer so as he is now worth $13 billion; the richest person in Russia as of 2020 is Vladimir Potanin.

21. Stefan Persson ($13.5 Billion) –  Stockholm, Sweden

Source of Wealth: Fashion and Retail

Carl Stefan Erling Persson is the chairman and main shareholder in fashion company H&M. Persson also owns a substantial stake in the Swedish technology company, Hexagon AB. He owns numerous properties in London, Paris, and Stockholm. In March 2015, his net worth dropped to 24.5 billion US Dollars, making him the 8th richest person in Europe and the richest in Sweden. As of 2020, he is the 81st richest person in the world and his wealth has further dropped to $13.5 billion.

20. Gennady Timchenko ($14.4 Billion) – Moscow, Russia

Source of Wealth: Oil & Gas

Gennady founded and owns the private investment group, Volga, which specializes in investments, energy, transport, and infrastructural assets. Timchenko is ranked 72nd on the Forbes magazine billionaires list, with an estimated fortune of $14.4 billion. He is a popular name among the richest people in Europe and Russia.

19. Petr Kellner ($14.9 Billion) –  Prague, Czech Republic

Source of Wealth: Finance and Telecommunications

The Czech billionaire’s wealth can be traced to being the founder and majority shareholder of PPF Group, an international financial and investment group founded in 1991. Sometime in August 2016, it circulated that he is the wealthiest person in the Czech Republic. This was after Forbes estimated that he’s worth $11.4 million. A few years later in 2018, his wealth climbed to $15.5 billion only to drop to $14.9 billion in 2020. He is currently the 68th richest person in the world and of course, one of the richest people in Europe.

18. Vagit Alekperov ($15.2 Billion) – Moscow, Russia

Source of Wealth: Oil

Vagit Yusifovich Alekperov is an Azerbaijani and Russian businessman. He is currently the President of LUKOILRussia’s leading oil company. Vagit is currently rated by Forbes magazine as one of the richest persons in Russia with a net worth of $15.2 billion. He remains one of the richest people in Europe and the 65th richest person in the world.

17. Leonardo Del Vecchio ($16.1 Billion) – Milan, Italy

Source of Wealth: Fashion and Retail

Leonardo Del Vecchio is the founder and chairman of Luxottica. The firm owns the Sunglass Hut and Lenscrafters chains with a total of over 6000 stores and 73,400 employees. According to records from Forbes magazine, he used to be the richest man in Italy with a net worth of $22.1 billion; this also left him as the 38th richest person in the world as of February 2015. But things have changed as Del Vecchio is now the 62nd richest in the world. The richest man in Italy at the moment is Giovanni Ferrero.

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16. Dietrich Mateschitz ($16.5 Billion) – Austria, Europe

Source of Wealth: Food and Beverage

An Austrian billionaire, Dietrich Mateschitz will always be recognized for being a co-founder of the popular energy drink company, Red Bull. He owns a 49% stake of the company and it accounts for his wealth which has seen him feature in Forbes’ list of richest people in the world for many years. Apart from his Red Bull interest, Mateschitz owns a popular magazine in Austria called Seitenblicke and two Formula One team. In 2019, Forbes listed him as the 53rd wealthiest person in the world with a fortune estimated at $19.5 billion. 2020 saw his fortune shrink to $16.5 billion, leaving him as the 57th richest person on earth. He also remains one of the richest people in Europe.

15. Susanne Klatten ($16.8 Billion) – Germany

Source of Wealth: BMW and Pharmaceuticals

Susanne Klatten is the daughter of Herbert and Johanna Quandt. Her father left her a 12.5% stake in BMW, and she was appointed to the supervisory board of BMW with her brother Stefan Quandt in 1997. According to Forbes, her net worth as of 2020 is $16.8 billion. She is the richest woman in Germany and the 54th richest person in the world.

14. Alexey Mordashov ($16.8 Billion) – Russia

Source of Wealth: Metals and Mining

Alexey Mordashov

Alexey Mordashov was the CEO of Severstal, a famous steel company for 19 years. He remains a majority shareholder in the company and it is the major source of his wealth estimated at a massive $16.8 billion as of 2020. This makes Alexey one of the richest people in Europe and the 54th richest person in the world.

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13. Theo Albrecht Jr ($17 Billion) – Germany

Source of Wealth: Fashion and Retail

Theodor “Theo” Albrecht Jr. is a German billionaire businessman, the son of Theo Albrecht, founder of Aldi. His father Theo Albrecht died, leaving the ownership of the German supermarket chain Aldi Nord and US supermarket chain Trader Joe’s, to his two sons; Theo Jr. and Berthold Albrecht.

12. Alain Wertheimer ($17.1 Billion) – New York City, USA

Source of Wealth: Fashion and Retail

The source of this French businessman’s wealth is very apparent, he has an investment in Bell & Ross, in addition to his controlling interest in the House of Chanel. Alain is the grandson of Pierre Wertheimer who co-founded the luxury company.

11. Gérard Wertheimer ($17.1 Billion) – USA and Switzerland

Source of Wealth: Fashion and Retail

Like his brother, Gerard made his fortune from the House of Chanel perfume company which he owns and controls with Alain. The brothers also have interests in La Presle Farm, a Thoroughbred horse racing and breeding business. But Chanel remains the major source of their wealth.

10. Leonid Mikhelson ($17.1 Billion) – Moscow, Russia

Source of Wealth: Gas and Chemicals

The CEO, chairman, and major shareholder of the Russian gas company Novatek, Leonid Mikhelson has his fortune estimated at $17.1 billion as of 2020. He made his money from the energy industry and his career has been traced back to 1977 when he graduated from the Samara Institute of Civil Engineering.

Leonid also chairs the Board of Directors of ZAO SIBUR and serves on the Supervisory Board of OAO Russian Regional Development Bank. It is said that he holds a 25% stake in Novatek and 57.5% interest in Sibur.

9. Vladimir Lisin ($18.1 Billion) – Moscow, Russia

Source of Wealth: Steel and Transport

This Russian steel tycoon is the chairman and majority shareholder of Novolipetskor NLMK, one of the four largest steel companies in Russia. He is a leading world authority on metallurgical processes and has published over 100 articles on metallurgy and economics. He is said to be one of the richest men in Russia and the 45th richest in the world as of 2020.

8. Vladimir Potanin ($19.7 Billion) – Moscow, Russia

Source of Wealth: Metals & Mining

Famed as one of the richest people in Russia, it is held that Vladimir Potanin acquired his fortune through the controversial loans-for-shares scheme in Russia which thrived from the early to the mid-1990s. The Russian Billionaire is a serial entrepreneur who owns a stake in several popular companies across the globe but his interest in metals and mining has come to dominate others. His wealth estimated at $19.7 billion as of 2020 makes him one of the richest people in Europe.

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7. Dieter Schwarz ($19.8 Billion) – Germany

Source of Wealth: Fashion & Retail

Dieter Schwarz is a German entrepreneur and owner of the Schwarz-Gruppe. He is the chairman and CEO of the supermarket chain Lidl and the hypermarket chain Kaufland. In 2014, he was ranked as the 23rd richest person in the world in the Hurun Report Global Rich List. In May 2015, Forbes estimated his wealth at $19.9 billion, making him the 10th richest person in Europe. As of 2020, he is the 40th richest person in the world with a fortune estimated at $19.9 billion.

6. Giovanni Ferrero ($24.5 Billion) – Brussels, Belgium

Source of Wealth: Food & Beverage

Giovanni Ferrero

This Italian billionaire took charge of Ferrero SpA, a popular manufacturer of chocolate and confectionery products, after the death of his brother Pietro Ferrero in 2011. It was way back in 1997 that he became a joint-CEO of the family company alongside his late brother who died in an accident. Giovanni has championed several revolutionary initiatives that have kept the multinational confectionery corporation relevant since he took to the helm of affairs. Given his good records, it is only natural that he has become one of the richest people in Europe.

5. Francois Pinault ($27 Billion) – Paris, France

Source of Wealth: Luxury Goods

François Pinault is a French businessman and an art collector. He is the major shareholder and honorary chairman of the retail company, Kering. He has three children, including his son Francois-Henri who manages the company founded by his father.

The Pinault family has been a constant feature on Forbes’ list of billionaires. Over the years, they have moved towards the top of the list and are currently ranked 27th among the top 100 billionaires of the world.

4. Beate Heister & Karl Albrecht Jr ($33.3 Billion) – Germany

Source of Wealth: Fashion & Retail

Karl Hans Albrecht was a German entrepreneur who founded the discount supermarket chain Aldi with his brother Theo. He was for many years the richest person in Germany, until his death. In February 2014, he was ranked as the 21st-richest person in the world by Hurun Report.

Karl Sr. died in July 2014 and Beate Heister and Karl Albrecht Jr. are his children. They continue to manage the family’s wealth and has always been counted among the richest people in Europe.

3. Françoise Bettencourt Meyers ($48.9 Billion) – Paris, France

Source of Wealth: Fashion & Retail

Françoise Bettencourt Meyers

Françoise Bettencourt Meyers is a famous billionaire heiress, the only daughter and heiress of Liliane Bettencourt, a French socialite and businesswoman famed for being one of the principal shareholders of L’Oreal. As L’Oreal is vastly regarded as the world’s largest cosmetics company, it is not difficult to see where Meyers’ wealth comes from. Her mother Liliane inherited the L’Oreal fortune in 1957 when her father Eugene Schueller died.

When Liliane passed in 2017, she was one of the richest people in the world and the richest woman with a net worth estimated at $44.9 billion. Françoise has been able to sustain the family’s wealth, this made it possible for her to retain the spot as the richest woman on earth until 2020 when Alice Walton of the United States took over the mantle with her $54.4 billion fortune. Francoise follows at $48.9 billion.

2. Amancio Ortega ($55.1 Billion) – La Coruna, Spain

Source of Wealth: Fashion & Retail

Amancio Ortega Gaona is a Spanish fashion Businessman and founding chairman of the Inditex fashion group, best known for its chain of Zara clothing and accessories retail shops. Ortega retired from Inditex, the parent company of the Zara chain in 2011, leaving the vice-president and CEO Pablo Isla of the textile empire to take his place. In June 2015, he was ranked as the second richest person in the world by Forbes and the richest in Europe. As of 2020, his wealth is estimated at $55.1 billion and he is the 6th richest person in the world.

1. Bernard Arnault ($76 Billion) – Paris, France

Source of Wealth: Fashion and Retail

Bernard is a French business magnate, investor, philanthropist, and art collector. He is the chairman and Chief Executive Officer of LVMH. In March 2015, Forbes estimated his wealth to be $37 Billion, making him the 13th richest person in the world. As of 2020, the man and his family are estimated to be worth $76 billion.

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Recap

Below is a summary of the 25 richest people in Europe at the moment:

  1. Bernard Arnault
  2. Amancio Ortega
  3. Françoise Bettencourt Meyers
  4. Beate Heister & Karl Albrecht Jr
  5. Francois Pinault
  6. Giovanni Ferrero

  7. Dieter Schwarz
  8. Vladimir Potanin
  9. Vladimir Lisin
  10. Leonid Mikhelson
  11. Gérard Wertheimer
  12. Alain Wertheimer
  13. Theo Albrecht Jr
  14. Alexey Mordashov
  15. Susanne Klatten
  16. Dietrich Mateschitz
  17. Leonardo Del Vecchio
  18. Vagit Alekperov
  19. Petr Kellner
  20. Gennady Timchenko
  21. Stefan Persson
  22. Mikhail Fridman
  23. Hinduja Brothers
  24. Stefan Quandt
  25. Pallonji Mistry
Amara Onuh
Amara Onuh
Amara is a personal finance and entertainment writer and journalist by trade with several years of experience covering businesses, CEOs, and celebrity profiles. She has worked as a full-time writer since 2015, and while she finds almost all the topics she writes about interesting, her favourite subjects are personal finance, business, entertainment, celebrities, and travel. Other than writing, she either spends most of her time reading Christian books or keeping up with the latest international news

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