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# 245 Laurent Dassault $8.51B

Random fact: Father Serge was mayor of Corbeil-Essonnes, a Parisian suburb.

Overview

Dassault is a director at Groupe Dassault, the Paris-based company that controls military jet plane maker Dassault Aviation. It also has a stake in Dassault Systemes, a software provider with revenue of 4.9 billion euros ($5.7 billion) in 2021. Dassault and his siblings are each credited with a quarter of the group.

As of :
Last change -$159M ( -1.8%)
YTD change -$1.86B ( -18.0%)
Biggest asset DSY FP Equity
Country / Region France
Age 69
Industry Diversified
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Laurent Dassault's net worth of $8.51B can buy ...

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troy ounces of gold
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barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
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Misc. liabilities
Confidence rating:

The Dassault family fortune is derived from stakes held through Groupe Industriel Marcel Dassault, which holds stakes in publicly traded companies including Dassault Systemes, Dassault Aviation, Immobiliere Dassault and BioMerieux, according to their annual reports and corporate websites.

The family acquired closely held Le Groupe Figaro for an undisclosed price in 2004. The valuation of the French publisher is based on the average enterprise value-to-sales multiple of two comparable publicly traded peers: Reach and the New York Times.

Dassault inherited a quarter of these holdings, according to `Dassault,' a book by French historian Claude Carlier, which noted Serge Dassault's four children split the estate equally. The value of other holdings aren't included in the calculation as financial details aren't disclosed.

His cash balance is derived from a quarter share of dividends and stock transactions since the death of his father Serge Dassault in 2018.

Olivier Costa de Beauregard, managing director of the family's holding company, didn't respond to an e-mailed request for comment.

Biography

Birthdate: 7/7/1953
Family: Unmarried, No children
Education: Ecole Superieure Libre Des Science Commerciales Appliquees, Pantheon-Assas University (University of Paris II)

Laurent Dassault was born on July 7, 1953 in Neuilly-sur-Seine, a suburb near Paris.

After attending university, Laurent undertook basis military training in the French Air Force. He worked in banking for 13 years before joining the family company in 1991.

His father, Serge, born in 1925, was one of two sons of Madeleine Minckes and the aviation legend Marcel Bloch. An airplane engineer, his father invented a type of propeller that was used by the French army during World War I. After starting his own aircraft manufacturer in December 1936, the elder Dassault was well-positioned to supply aircraft to the military for World War II.

Of Jewish heritage, Marcel was captured by the Nazis, stripped of his property and deported to Germany's Buchenwald concentration camp, where he spent eight months for refusing to cooperate with the German regime. After the war, the family changed its name from Bloch to Dassault. Derived from the word for "assault tank" in French, it was also the alias used by Marcel's brother, General Paul Bloch, who fought for the French resistance.

By the mid-1960s, Dassault Aviation was the French air force's largest supplier. Exports were rising as well, growing from 58% of its business to 75 percent by 1977. Dassault founded Dassault Systemes, which developed proprietary computer technology for designing and building aircraft, in 1981.

After Marcel's death in 1986, Serge became chief executive of the family's Dassault Group holding company at age 63. After taking the helm, Serge fought to keep the family-controlled businesses independent and, in the early 1990s, rebuffed efforts by the Socialist Mitterrand government to nationalize the aviation business. He has also diversified the family empire, establishing an investment trust, Immobiliere Dassault, to expand its real estate holdings, and buying Le Groupe Figaro, publisher of one of France's best-known newspapers.

Serge died in 2018 aged 93, passing control of Groupe Dassault to his four children -- Olivier, Laurent, Thierry and Marie-Helene.

Milestones
  • 1925 Serge Bloch is born in Paris, son of Marcel Bloch.
  • 1936 Marcel founds the company that later becomes Dassault Aviation.
  • 1986 Serge becomes CEO of Dassault Group after Marcel dies.
  • 2018 Serge Dassault dies aged 93.