Pierre Castel, a French entrepreneur, is worth $8 billion.
Groupe Castel, a leading French wine producer in the world, is managed by Pierre Castel, a new member of the billionaire community.
The beverage giant was established in 1949 by Castel and his eight brothers.
In addition to wines, the company produces a range of beer and soft drinks.
Groupe Castel has 45 breweries in Africa and owns 1,600 acres of vineyard in Morocco, Tunisia, Ethiopia, and Africa, with plans for further expansion. It also owns or co-owns 22 vineyards in France.
The company’s annual production of bottles surpasses 640 million.
Wine was estimated to have made up $1.9 billion of the group’s $3.6 billion revenue in 2011, according to estimates.
Since 1991, the group has been selling the popular Castel-branded wine on the under-$10 market.