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Francois Pinault’s Wealth Slides as Heir Fails to Revive Gucci

The 88-year-old founder of Kering SA has seen his net worth drop by 29 percent to $18.6 billion since August 2021.
Gucci and other Kering brands are opening more US stores as sales in the country boom.
Pinault's wealth decline is steeper than that of Bernard Arnault of LVMH. (Shutterstock)

Francois Pinault, the octogenarian founder of Kering SA, has seen his family’s fortune drop by more than two-thirds since a pandemic-era boom as his son struggles to turn around the French luxury conglomerate’s biggest brand, Gucci.

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