This article examines the age, marital status, family, and net worth of the infamous businessman Bernard Arnault. Continue reading the conclusion for additional information. As per Celebritynetworth, At the time of writing, Bernard Arnault is worth $135 billion.
Who is Bernard Arnault?
French business tycoon, investor, and art collector Bernard Jean Étienne Arnault. He is the co-founder, chairman, and chief executive officer of the world’s largest luxury goods firm, LVMH Mot Hennessy – Louis Vuitton SE.
|Birth||March 5, 1949|
|Net Worth||$135 Billion|
|Relationship With||Hélène Mercier|
Bernard Arnault’s Early Years
Bernard Jean Étienne Arnault was born in Roubaix, France on March 5, 1949. His father, Jean Léon Arnault, was a graduate of École Centrale de Paris and a manufacturer. Marie-Josèphe Savinel was his mother. Her father, Étienne Savinel, established the civil engineering firm Ferret-Savinel.
In 1950, Savinel transferred control of Ferret-Savinel to his son-in-law Jean Léon Arnault (Bernard’s father), and subsequently gave him ownership of the company. In 1971, Bernard graduated from the best engineering school in France, École Polytechnique.
Bernard Arnault’s Career
After graduating in 1971, Arnault began working for his father’s business, Ferret-Savinel (which was previously owned by his maternal grandfather). In 1978, he was appointed president of the firm, a post he held until 1984.
During his tenure at Ferret-Savinel, he helped guide the company away from construction and toward real estate, which proved to be a profitable commercial decision. Then, in 1984, with the assistance of Antoine Bernheim, he acquired the luxury goods company Financiere Agache.
He became the chief executive officer of Financiere Agache and subsequently took over the textile manufacturer Boussac Saint-Frères. Arnault sold all of Boussac’s assets, with the exception of the luxury brand Christian Dior and the department store Le Bon Marche, which Boussac held.
In 1987, LVMH, a consortium of luxury brands that include Christian Dior, was founded, and Arnault found himself more prosperous than ever due to his astute commercial acumen.
In 1987, Mot Henessy and the premium fashion business Louis Vuitton united to form the original conglomerate. In July of 1988, he invested $1.5 billion and formed a holding company with Guinness in order to acquire 24% of LVMH’s shares.
As rumors circulated that the Louis Vuitton group would attempt to acquire LVMH stock to form a “blocking minority,” Arnault spent an additional $600 million to acquire 13.5% of LVMH shares. This action made him the largest stakeholder in LVMH.
In January 1989, he invested even more money, this time $500 million, to purchase additional shares. At that time, he held 43.5 percent of LVMH’s shares and 35 percent of its voting rights.
Using his influence, he prevented the dissolution of the LVMH group and has since guided the conglomerate through a restructuring that has positioned it as one of the world’s largest and most influential luxury groups.
Bernard Arnault’s Other Investments
In addition to LVMH, Arnault has his hands in numerous other businesses. Between 1998 and 2001, he invested in various web firms through his holding company Europatweb, including Boo.com, Libertysurg, and Zebank.
In 1999, through his financial firm Groupe Arnault, he made a stake in Netflix. In 2007, it was reported that Arnault, along with the California real estate firm Colony Capital, owned 10.69% of Carrefour. Carrefour is the second-biggest food distributor in the world and the largest grocery operator in France.
Additionally, he is interested in the yachting industry. In 2008, he invested €253 million in the purchase of Princess Yachts. Then, he acquired Royal van Lent for almost the same amount of money.
What is Bernard Arnault’s Net Worth?
Bernard Arnault is a French billionaire who amassed his fortune as chairman and chief executive officer of LVMH, the largest luxury goods company in the world. At the time of writing, Bernard Arnault is worth $135 billion. His net worth places him among the world’s wealthiest individuals, alongside Jeff Bezos and Bill Gates.
Bernard Arnault’s Art Collection
Arnault is also well-known for his passion for art collecting, among other things. Through LVMH, Arnault has sponsored shows in France that have featured such internationally known painters as Pablo Picasso and Andy Warhol, among others.
Bernard Arnault’s Personal Life
Arnault married Anne Dewavrin in 1973; they divorced in 1990. They have two children together. He wed Canadian concert pianist Hélène Mercier in 1990.
Together, they have three children. In 2019, following the terrible fire that severely destroyed the iconic Notre Dame Cathedral in Paris, France, Arnault and his family committed €200 million euros to aid in the rebuilding efforts.
Bernard Arnault’s Wealth Details
The majority of Arnault’s fortune came from Christian Dior, in which his family retains a 73 percent share. The Arnault family owns a direct 5.7 percent ownership in the world’s largest luxury goods company, LVMH, which Christian Dior controls 41% of.
In addition, he owns 8.4% of Hermes and shares of Carrefour. In 2009, he sold his Cheval Blanc winery share to LVMH for 238 million euros. In 2016, LVMH generated revenue of $41.6 billion. In June 2019, Bernard Arnault surpassed $100 billion in net worth for the first time.
He was the third richest person on the earth at the time. In July 2019, his net worth surpassed $108 billion, making him the second-wealthiest person on earth, almost $400 million ahead of Bill Gates. From January to December 2019, the net wealth of Bernard Arnault climbed by $36 billion.