The richest individual, however, is Liliane Bettencourt, the main shareholder in L’Oreal, with the possible exception of the Queen of England, the wealthiest woman in Europe.

France’s leading business magazine, Le Nouvel Economiste, estimates Bettencourt’s fortune at $12.7 billion, comfortably ahead of LVMH boss Arnault with $6.8 billion and Gucci group majority shareholder Pinault with $5.4 billion.

"The winning treble, Bettencourt, Arnault and Pinault, seem immovable,” comments Le Nouvel Economiste, noting that this is the fifth consecutive year this trio has held the top spots.

A slew of luxury dynasties made it into the magazine’s top 50, including the Chanel-owning Wertheimers with an estimated $1.2 billion, the Courtins, owners of Clarins and the Thierry Mugler fashion label, with $1.1 billion, along with the Moet Hennessy and Guerlain families, each with about $600 million.

Le Nouvel Economiste estimated the three richest designers as Pierre Cardin ($135 million), Agnes Trouble of Agnes B ($90 million) and Sonia Rykiel ($40 million). Bizarrely, there was no mention of Yves Saint Laurent.

Testifying to how difficult it is to create a fortune in France, there were no new members this year of this exclusive club.