Chanel's huge dividends hit a new high, with the family accumulating profits of over $21 billion over the past decade.

At a time when the global luxury industry is entering a period of adjustment, the Wertheimer family behind Chanel is experiencing another round of wealth growth. According to the latest disclosure documents, this billionaire family that controls Chanel is estimated to have received over $21 billion in dividends over the past decade. Despite the industry downturn, Chanel continues to grow, providing its owners with astonishing cash returns. The documents show that the family holding company, located in the Cayman Islands and owning shares in Chanel Ltd., is expected to receive $5.8 billion in dividends by 2025, with over half of this amount to be paid out this year. Since 2017, the family has already received around $15.1 billion in dividends. This substantial cash return has further propelled the Wertheimer family into the ranks of the world's wealthiest families. Alain Wertheimer, 77, and Grard Wertheimer, 75, inherited control of Chanel from their grandfather, who was an early business partner of the brand's founder, Gabrielle Chanel. According to the Bloomberg Billionaires Index, Alain and Grard Wertheimer currently have a combined net worth of around $85 billion. They each own shares in Chanel through offshore holding company Mousse Investments Ltd., which is further connected to the family office Mousse Partners based in New York. This low-key and large-scale family investment firm is managed by their half-brother, Charles Heilbronn.