How large French families became the first shareholders of the CAC40

Baptist Morin

Five families are among the ten largest shareholders of the CAC40 according to a new study published by Euronext. These now hold more than 20% of the largest French companies listed on the Paris Stock Exchange. Who are they and how to explain it? Europe 1 takes stock.

The family is a value that is listed on the stock exchange. To the point that the great dynasties have clearly become the leading shareholders of the CAC 40. Five families are among the ten largest shareholders of the CAC 40: the Arnault family, that of Hermès, the Bettencourt family, the Pinault family and the Dassault family. This is revealed by a study carried out by Euronext. And this is due to the very good health of their companies, but also to their “DNA”, according to Kevin Thozet, member of the investment committee of the management company Carmignac.

Effective management

“These families with the capital of these large companies, they nevertheless tend to share a certain number of characteristics: less indebtedness, returns on investment which are particularly high. Clearly, investors are looking for this type of company there,” he said.

At the head of these great families, we find the Arnaults, owner of the world number one in luxury LVMH. The Hermès heirs and the Bettencourt Meyers family follow. Point to emphasize: the success of these great families is not a French exception. “This phenomenon is also seen around the world,” says Kevin Thozet. “What made the success of these CAC40 family businesses, but is also true internationally”.

It should be noted that at the same time, the French State’s participation in the CAC40 is only shrinking. They fall below the 2% mark.