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France’s Tech Tycoon and Billionaire Xavier Niel Is Making Huge Investments in AI; What’s His Net Worth?

Xavier Niel established Free, a French ISP that offers a zero-cost basic service and provides users with a faster broadband connection at a low fee.

BY VALLARI VAIDYA

PUBLISHED OCT 18, 2023

Image Source: Xavier Niel attends the Dior Womenswear Fall/Winter 2022/2023 show / Marc Piasecki/Getty Images

Name	Xavier Niel
Net Worth	$6.2 billion
Gender	Male
Date of Birth	Aug 25, 1967
Age	56 Years
Nationality	France
Profession	Entrepreneur, Investor

French entrepreneur Xavier Niel, with a net worth of $6.2 billion as of October 2023 (per Forbes), initiated his tech career in high school, selling his first company, Minitel, at the age of nineteen. His journey continued with investments in France's initial internet provider, World-Net, followed by a successful reverse directory service for the Iliad. Eventually, he founded his own internet service provider, Free.

Image Source: Xavier Niel, iIiad Vice Chairman of the board of directors, Executive Director delegated to strategy, attends the Analyst conference to present the iIiad Group's 2017 annual results/ Aurelien Morissard/IP3/Getty Images — Xavier Niel attends the Analyst conference to present the Iliad Group's 2017 annual results/ Aurelien Morissard/IP3/Getty Images

What are Xavier Niel's sources of income?

Richest internet entrepreneur

In 1999, Xavier Niel established Free, a French ISP that offers a basic service at no cost, allowing users to opt for a faster broadband connection by paying a minimal fee. Free, not only renowned for its affordable internet services, pioneered the triple-play multi-service box in France. Xavier Niel, benefiting from Free and a 63% stake in Iliad, ventured into angel investing with Kima Ventures. Since its establishment in 2010, Kima Ventures has backed over 130 companies. Niel stands as one of the wealthiest internet entrepreneurs globally.

Image Source: French telecom and Internet company Iliad Group founder and vice-president Xavier Niel presents the new Freebox Delta at the Iliad headquarters on December 4, 2018 in Paris, France. The new set-top box, the Freebox Delta combines broadband, television and fixed line telephone services/Chesnot/Getty Images — Xavier Niel presents the new Freebox Delta at the Iliad headquarters./Chesnot/Getty Images

Kima Ventures

In 2010, Xavier Niel co-founded Kima Ventures with the goal of investing in 50 to 100 startups annually worldwide. By August 2014, Kima Ventures had already backed 300 companies across 32 countries, establishing Niel as one of the most prolific angel investors globally. Niel aims to attract entrepreneurs to Station F through effective branding and he expresses hope that President Macron's pro-business message continues, potentially nurturing the emergence of future innovative startups from his incubator.

$210 Million pledge in AI

Xavier Niel, founder and majority shareholder of Iliad, has unveiled plans for substantial investments in artificial intelligence (AI), totaling up to $210 million. Beyond his role at Iliad, Niel's diverse portfolio includes ownership of the renowned startup campus Station F and backing Kima Ventures, a prolific seed fund. Iliad subsidiary Scaleway, a leading European cloud provider, is part of the AI investment strategy. Additionally, a $105 million initial investment has been made to establish an AI research center in Paris under Iliad's initiatives.

Making Iliad private

Xavier Niel unveiled a "simplified public tender" offer for Iliad shares at $216 per share in Aug 2021, per CEO Today. This move led to a remarkable 61% surge in the stock on Euronext Paris, elevating Niel's net worth by $3 billion to an estimated $10.4 billion at that time. With an ownership of around 70% of Iliad and a controlling stake in the French newspaper Le Monde, Niel continues to wield significant influence in both the telecommunications and media sectors.

Xavier Niel's real estate

Qatari Prince Abdullah bin Khalifa al-Thani has reportedly sold the historic Hotel Lambert in Paris to billionaire Xavier Niel for $226 million in February 2022. Dating back to 1640, the property is set to become part of a non-profit foundation under Niel's ownership. This substantial deal ranks among the largest private real estate sales in the history of Paris, surpassing previous notable transactions. Niel intends to transform the 43,000 square feet of space into a cultural center, although specific plans for this conversion have not been publicly disclosed.

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Xavier Niel's personal life

Xavier Niel's domestic partner is Delphine Arnault, a prominent French businesswoman serving as the director and executive vice president at Louis Vuitton as well as the chairwoman and CEO of Dior. She is the daughter of Bernard Arnault, founder, chairman, and CEO of LVMH. The couple has a daughter together, and Niel has two sons from a previous relationship. They reside in Paris.

Xavier Niel's awards

In August 2015, Wired recognized Xavier Niel as the seventh most influential figure in global technology. In February 2017, Vanity Fair honored him with the title of the most influential French individual worldwide.

FAQs

Who owns Hotel Lambert?

The new owner of the iconic residence is French tech billionaire Xavier Niel.

How did Xavier Niel make his money?

Technology entrepreneur Xavier Neil owns telecoms giant Iliad, the parent company of Free, one of France's largest internet service providers.

How much is Xavier Niel investing in AI projects?

Xavier Niel has unveiled plans for substantial investments in artificial intelligence (AI), totaling up to $210 million.