Her father-in-law, another tycoon called Francois Pinault, has been made a Grand Officer of the Legion of Honour in the same list.
Referring to Mr Sarkozy possibly losing a presidential election in the Spring, political magazine Marianne ran the headline: "Last distribution of the gongs before leaving!"
Mocking Hayek with the Mexican exclamation 'Caramba!', it suggested that Mr Sarkozy's list of recipients was "another occasion to have fun". People reacted to it with everything from "surprise to anger". They included Henri Torre, the 78-year-old former minister and member of Mr Sarkozy's ruling UMP party, who turned down a Legion of Honour, saying: "Too many people were nominated who do not deserve to me honoured", adding that the awards had "lost their value".
Numerous angry French people posted on the website of L'Express, saying Bonaparte would be "turning in his grave".
Knight of the Legion of Honour was created by the former Emperor in 1802 "to reward the men and women who have devoted themselves, sometimes to the death, to the nation", said another Express reader.
The magazine launched its own debate about the award asking "Why not Tintin and Milou?" - a reference to the cartoon boy journalist and his faithful dog.
L'Express said there was widespread bewilderment at a New Year's Honours list which also included Eric Charden and Annie "Stone" Gautrat ? a pop singing duo dating back to the 60s and 70s.
Mr Sarkozy, who is married to the pop singer Carla Bruni, is well known for his love of Middle of the Road music, especially the kind performed by Gallic rocker Johnny Hallyday.
Others suggested that Mr Sarkozy was trying to "buy" popularity before this year's presidential elections, with one poster saying he had "put a big red nose on France". It follows similar criticism of the honours system in the UK, where Prime Minister David Cameron has been attacked for rewarding Tory Party donors, including tycoon Gerald Ronson, who was jailed for his part in the Guinness share-trading scandal.
Hollywood stars have in fact received Legion of Honour gongs in the past in the past in France, but they have tended to be global superstars including Clint Eastwood, Robert Redford and Robert De Niro.
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