The Wertheimer family, owners of the French luxury brand Chanel, received $12.4 billion in dividends from the brand’s earnings over the past three years through their holding company in the Cayman Islands. They received $5 billion in 2021, $1.7 billion in 2022, and $5.7 billion in 2023. According to the Bloomberg Billionaires Index, these dividends increased the family’s net worth by 19% to $108 billion in the past year, an increase of about 26% from 2021. Analysts believe Chanel is one of the few luxury brands minimally affected by weak demand. Last year, Chanel’s revenue grew by 16% to $19.7 billion.