What is Bernard Arnault Net Worth in 2022? One of the world’s wealthiest men, Bernard Arnault, is the CEO and chairman of LVMH, the world’s most famous luxury goods company. Forbes ranks him among the world’s wealthiest people and one of the world’s richest men.
Bernard Arnault Early Life
At the time of his birth on March 5, 1949, Bernard Jean Étienne Arnault was living in Roubaix, France. École Centrale Paris graduate and industrialist Jean Léon Arnault was his paternal grandfather. Marie-Josèphe Savinel, his mother, was the daughter of the civil engineering firm Ferret-Savinel owner Étienne Savinel.
In 1950, Jean Léon Arnault (Bernard’s father) was given control of Ferret-Savinel by his father-in-law, Savinel, and eventually became the company’s owner. Bernard is a 1971 alumnus of France’s prestigious École Polytechnique, the country’s top engineering school.
Bernard Arnault Career
After graduating from college in 1971, Arnault began working for Ferret-Savinel, his father’s firm (previously owned by his maternal grandfather). For the next two decades, he served as the company’s president. During his time at Ferret-Savinel, he helped the company shift its focus from construction to real estate, proving to be a wise commercial decision.
Antoine Bernheim helped him purchase Financiere Agache, a luxury products firm, in 1984. Financiere Agache and Boussac Saint-Freres were both taken over by him. Boussac owned several businesses, including Christian Dior, a premium brand, and Le Bon Marche, a department store, both of which Arnault sold.
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With the founding of LVMH, a conglomerate of luxury brands including Christian Dior, in 1987, Arnault could build on his previous accomplishments and achieve even greater financial success. In 1987, Louis Vuitton and Mot Hennessy joined to establish the company we know today.
To acquire a quarter of LVMH’s stock in July 1988, Guinness donated $1.5 billion and founded an investment company with him. As rumors spread that the Louis Vuitton group was planning to buy up LVMH stock to create a “blocking minority,” Arnault invested an additional $600 million to purchase 13.5% of LVMH shares as a preventative measure.
He became the largest stakeholder in LVMH as a result of this decision. In January 1989, he paid $500 million to acquire even more shares, making him the wealthiest person in the world. The claims he owned and his voting power over LVMH totaled 43.5%. His influence and control prevented his conglomerate from being dismantled, transforming it into one of the world’s most fantastic leading luxury organizations.
LVMH grew tremendously during Arnault’s leadership. Sales and profits increased by five in just eleven years, while the company’s market value increased by 15. As of June 2020, the company has 75 companies, but Arnault has remained committed to an approach that decentralizes the brands, allowing them to be recognized as autonomous brands and businesses with their histories and stories.
LVMH also owns Céline, Berluti, Kenzo, Guerlain, Loewe, Marc Jacobs, Sephora, Thomas Pink, Emilio Pucci, and Fendi, among other well-known names Gucci, Gucci Mane, and Gucci Shoes (in 2001).
Bernard Arnault Other Investments
With LVMH, Arnault is involved in a wide range of different businesses. He invested in various online startups, including Boo.com, Libertysurg, and Zebank, between 1998 and 2001, through his holding company Europatweb. In 1999, he invested in Netflix through his investment business, Groupe Arnault. As of 2007, Arnault and the California-based real estate firm Colony Capital held 10.69% of Carrefour.
Carrefour is the second-biggest food distributor in the world and the largest grocery operator in France. He’s also got a hand in the yachting industry. Princess Yachts cost him €253 million in 2008. After that, he purchased Royal van Lent for a price that was approximately the same.
Bernard Arnault Family
After marrying Anne Dewavrin in 1973, Arnault and his wife divorced in 1990. They have two children together. He married Hélène Mercier, a Canadian concert pianist, in 1990. They are the parents of three children. An estimated €200 million has been committed by Arnault and his family to assist rebuild and restoring the famous Notre Dame Cathedral in Paris, France, following the tragic fire that occurred in 2019.
What is Bernard Arnault Net Worth in 2022?
A French millionaire, Bernard Arnault is the chairman and CEO of LVMH, the world’s largest luxury goods conglomerate. Bernard Arnault is currently worth $125 billion, according to the latest available data. In terms of wealth, he ranks with the likes of Jeff Bezos and Bill Gates.
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