Michel Chalhoub and Family's Net Worth
Michel Chalhoub, a French billionaire, boasts a net worth of $1.7 billion, shared with his family. He made his debut on the world's billionaires list this year, owing his fortune to the flourishing luxury goods market in the Middle East. What began in Damascus, Syria, in 1955 as a modest company selling three French brands—Christofle, Baccarat, and Jean Patou—has now grown into a distribution powerhouse offering 280 fashion and cosmetic lines across the region.
The Chalhoub Group's portfolio features some of the world's most prestigious brands, including Chanel, Louis Vuitton, and Christian Louboutin. In 2011, leadership of the company transitioned to Michel Chalhoub's sons, Anthony and Patrick, who now serve as co-CEOs, driving the family business toward further growth and innovation.
