10 Richest People In Europe

Because Europe is far away across the Atlantic, most Americans don’t understand the massive sums of wealth Europe’s rich hold.  With the society we live in, it’s only natural to seek a little more of what seems to make the world go round, However, for some European wealthy the millions are already rolling in – sometimes even billions! Here, we look at our list of the 10 richest people in Europe!

1. Amancio Ortega
The richest on our list, Amancia Ortega is worth a whopping $76.4 billion! At 81 years old, Ortega is a Spanish business magnate, who can thank his founding of the Inditex fashion group for a significant chunk of his fortune. Most of us will have heard of clothing seller Zara, some of you might even shop there, but whatever the case, we can all thank Mr. Ortega for introducing this brand to European and American shops.  Oh, and did we mention that he just happens to be one the richest people in Europe.

2. Bernard Arnault
At the age of 68, Bernard Arnault is worth $64.3 billion, and it’s not hard to understand just why when you know what this man does! As chief executive of luxury goods firm LVMH, he just so happens to run the company that umbrellas brands like Louis Vuitton and Moët & Chandon. He also happens to be the richest man in France.

3. Sergey Brin
Number three in our list of the 10 richest people in Europe is Google founder Sergey Brin. Brin is the youngest on this list at only 44, and you may know him better as the co-founder of search engine giant Google. Worth an incredible $46.5 billion, he is the president of Alphabet Inc., Google’s parent company, all while sitting pretty as the 12th richest person in the world!

4. Liliane Bettencourt (now deceased)
At the age of 94, Lilianne Bettencourt would have been the oldest on the list and worth an amazing $39.5 billion when last estimated by Forbes. Bettencourt was known as the ‘great dame’ of L’Oreal, and between her and her children, they owned 33% of the company. Unfortunately, Bettencourt suffered from dementia and died in September earlier this year, and so her children are now in control of her business affairs – and her daughter, Francoise Bettencourt Meyers, has taken over her title as the wealthiest woman in the world.

5. Stefan Quandt and Susanne Klatten
Okay, so we know that this is cheating just a little, but Stefan Quandt and Susanne Klatten, aged 51 and 55 respectively, are heirs to the BMW fortune. Their father, Herbert Quandt, was the industrialist who took BMW from a small car company, so the automobile giant they are today. Together, they are worth $20.2 and $23.9 billion!

6. Karl Albrecht Jr, Beate Heister and Family
This is another cheat in a sense, but Karl Albrecht Jr and Beate Heister are heirs to the fortune of supermarket chain Aldi – or rather their father’s fortune. Their father, Karl Albrecht Sr, passed away in 2014, giving his children access to the fortune that the no-frills supermarket has built! Forbes puts Karl Albrecht Jr and his families’ wealth at $31.1 billion.

7. Ingvar Kamprad and Family
We’ve all heard of global furniture company IKEA, and it’s likely that we’ve all probably assumed that the founder was quite a rich man – and we’d be right. Swedish-born Ingvar Kamprad founded the company, and has since built a worth of around $3.5 billion!

8. The Henkel Family
The Henkel family founded, you guessed it, Henkel, who manufacture all kinds of products including the likes of Persil washing powder and Loctite super glue. This company is based in Dusseldorf in Germany, and the Henkel family have worked up a worth of over $5.6 billion, reflecting their 80% ownership of Henkel KGaA.

9. Jean-Louis Dumas & Family
Fans of luxury brand Hermès will appreciate this. In 2006, Jean-Louis stepped down from the chief executive post in January after 28 years – ended five generations of family leadership, dating back to 1837 Forbes puts the wealth of Jean-Louis and his family at $2.5 billion. He is reputed to have mandated that Hermès should never make anything ugly because someone could buy it.

10. Stefan Persson & Lottie Tham
Worth an amazing $21.3 billion, these siblings own quite a significant chunk of the H&M fortune! This fashion chain was founded by their father, but currently Persson is the chairman and CEO, with Tham owning a 5% share of the brand. Not bad for a 69 and 67 year old! In addition to their stake in the H&M fortune, the H&M heirs own real estate, including hotels, commercial buildings and land.

So, if want to go rub shoulders with Europe’s wealthy, don’t forget to grab your EHIC card from ukehic and jet off on a well-deserved break from earning that little extra.

For more on wealth of famous people, read our articles on:

Make Up Artist’ Jacklyn Hill’s Networth
YouTube Star Liza Koshy’s Net Worth
Reality Television Star Tony Beets’ Net Worth

Data Source: Forbes wealth estimates.

Image: Interior of a European castle

My Friend Won The Lottery

If you saw my tweet last night you’d already know that one of my classmates (not one of these girls) won the lottery last week. Like, 25-million-dollars-won-the-lottery.

Do you think if she remembers today is my birthday she’ll send a paper present?

She happens to be one of the sweetest, most giving people I know and am sure that she and her husband-to-be (they’re getting married in 2 weeks, together for 14 years) will spend/invest/give the money wisely but this hits so close to home. I can’t help but dream about what I would do with that kind of money and how my life would change. Remember…we don’t pay taxes on lottery winnings in Canada so she gets all 25 million.  I could buy Greece! I kid. Oh man the things I could do though…

I’m finding it hard to not let it get the best of me but I can’t stop thinking about it. Hubby and I don’t even ‘play’ the lottery, outside of a scratch ticket in a stocking or odd pro-line, so it’s not like it could happen to us, but I still find myself daydreaming.

I’m literally sitting here looking for creative ways to come up with enough money for our power bill while she is financially set for the rest of her life and many generations behind her, should she chose.

I don’t like the way I feel when I let these thoughts consume me so I’m trying not to think about it too hard but when things like Facebook exist it’s rather difficult. I guess I’m thankful for a baby who consumes most all of my time to act as a distraction!

Have you ever known someone that close to win the lottery? What did they do with the money?

PS- All you Americans, VOTE today!

Photo Source

How Selling Lemonade Changed How I View Money

I think most people have some ”a-ha” moment about money while in their transition from childhood/student life to adulthood. For me it was a story I read in Reader’s Digest last year (although I have no idea how old the copy was). We have copious amounts of copies of Readers Digest in our waiting room at work. I don’t often read them but when patients don’t show up or cancel last-minute sometimes there isn’t much else to do.

I am very much paraphrasing the ideas of the article and will probably not get all the details right, so I apologise in advance, the main point of the story remains intact though.

It was a story about a young boy, who at a young age (something like 6 years old), decided he wanted to make some of his own money while his parents hosted a yard sale one summer morning. With the ”initial investment” from his parents of about $5.00, he set up a lemonade stand selling glasses at 0.50/cup. He ended up making something like $20.00 that day alone. He explains that he re-paid his parents and put his $15.00 profit in his piggy bank.

Over the next few summers he continued selling lemonade at every opportunity, always saving his profits. It wasn’t until he was something like 9 years old that he told his dad that he wanted to get out of the ‘lemonade business’ and buy a lawnmower. His parents had no idea that in the past few summers their son had made, and saved, hundreds of dollars selling lemonade. Enough to buy a nice self-propelled gas lawnmower which will help him on his next entrepreneurial endeavor.

Let me explain how smart and business savvy this child was. He took his lemonade profits, bought the lawn mower but had no intention of wasting his childhood away mowing lawns, instead he would hire someone older, stronger, and more experienced to do the work for him all while making a profit himself.

He reached out to some older kids he knew and offered them a summer job mowing lawns. He would provide the lawnmower, gas and nail down a few regular clients in the neighborhood (ensuring job security) but the older boy would do the work. He charged $25.00-$40.00/lawn depending on size and paid the older boy $15.00-$25.00/each lawn. Between the regular clients and the occasional cuts for people who were on vacation etc, they young boy profited something like $3000 for basically doing nothing (other than being the mastermind behind the operation) and the older boy made even more. Win-win situation. He was 9 years old!

He did this for the next few summers and eventually bought a few lawnmowers, hiring someone to man it each time, and carved out quite a name for himself in the lawn care industry in his community.

I don’t remember the story-ending details, and I don’t want to make something up, but I feel like this kid went on to university (totally paid for between his savings and scholarships to a business school). At the time the article was written, he was something like 20 years old and on his way to being a millionaire by the time he was in his late 30’s due to smart investments.

I was flabbergasted when I read this story about the sheer intelligence and savvy mind of this kid. How does a young 6-year-old even think about such a business model? Most kids are playing with toys and concerned about what their friends are doing for the summer, not how to start-up and maintain a business.

And this is how selling lemonade changed how I view my money and forced me to look at what I’ve accomplished financially in my 28 years on this earth (which, sadly is basically nothing).

Has a story every changed how you view money? What do you think about this story?

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Lemonade Photo Source

Lawnmower Photo Source