F ilip Balcaen is a Belgian billionaire who made his fortune in the flooring industry. He is the third generation of his family to be involved in the business. His grandfather founded Balta Group, a carpet and flooring manufacturer. Filip took the helm and transformed the company into one of the largest carpet producers in Europe.

In 2004, in a major move, he sold his stake in the family's carpet business to a private equity firm. He then used the proceeds to acquire IVC Group, a maker of vinyl flooring, which he built into a global leader. His biggest financial success came in 2015 when he sold IVC Group to the American flooring giant Mohawk Industries for over $1.2 billion. He has since focused on managing his wealth through his family office, Baltisse, which has a diversified portfolio of investments in private equity, real estate, and asset management.