Chanel heir Gerard Wertheimer became the richest Swiss resident after the post-pandemic boom in luxury goods boosted his wealth to as much as 42 billion Swiss francs ($47.6 billion) last year, according to Bilanz magazine.

Wertheimer, who controls the Parisian fashion house that makes Chanel No. 5 perfume, is resident in Geneva. A record year for fashion, perfume and jewelry sales boosted Wertheimer’s wealth above that of the Ikea-founding Kamprad family for the first time, Bilanz said in its annual publication of the 300 richest people in Switzerland.