Bernard Arnault & Family net worth
Current Net Worth – $142.3 Billion (USD – 14,230 Crores), (Rupees – 11.07 Lakh Crores)
Bernard Arnault short biography
| Net Worth | $142.3 Billion |
|---|---|
| Born | March 5, 1949 (Age – 72) |
| Identified as | Chief executive & chairman of LVMH Mot Hennessy – Louis Vuitton SE |
| Status | French Businessman, Investor, and Art Collector |
| Education | Ecole Polytechnique de Paris, Bachelor of Arts/Science |
| Nationality | France |
| Residence | Paris, France |
| Spousal status | Married [(Anne Devavrin) (m. 1973; div. 1990), (Hélène Mercier) (m. 1991)] |
| Children | 5 |
Bernard Jean Étienne Arnault has a net worth of $142.3 Billion (Rupees – 11,07,358 Crores), making him one of the richest men in the world among Jeff Bezos, Elon Musk, and Bill Gates.
He is the chairman and CEO of the world’s largest luxury goods firm, LVMH Mot Hennessy – Louis Vuitton SE.
He is a French businessman, art collector, and investor.
According to Forbes, Arnault is the world’s richest individual, worth a billion dollars.
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Bernard Arnault biography
| Full Name | Bernard Jean Étienne Arnault |
| Birthplace | Roubaix, France |
| Height | 5.6 feet, 170 cm |
| Weight | 65 Kg |
| Father | Jean Arnault |
| Mother | Marie-Josèphe Savinel |
Bernard Jean Étienne Arnault was born in Roubaix, France, on March 5, 1949.
Marie-Josèphe Savinel, Étienne Savinel’s daughter, had a “fascination for Dior.”
His father, the civil engineering firm Ferret-Savinel, was a graduate of École Centrale Paris and controlled the company.
Arnault was a member of the Malaysian 1MDB fund’s Board of Advisors from 2010 to 2013.
Education
Arnault received his education at Roubaix’s Lycée Maxence Van Der Meersch and Lille’s Lycée Faidherbe. He graduated from France’s top engineering school, the École Polytechnique, in 1971 and went to work for his father’s firm.
Career
Arnault joined Ferret-Savinel in 1971 and served as company president from 1978 to 1984.
In 1984, Arnault, then a young real estate developer, learned that the French government was about to appoint a successor to the Boussac Saint-Frères dynasty, which controlled Christian Dior.
Arnault purchased Financière Agache, a luxury products firm, with the aid of Antoine Bernheim, a senior partner of Lazard Frères.
He became the CEO of Financière Agache and then won the Boussac Saint-Frères bidding war, buying the company for a ceremonial one franc and essentially gaining control of Boussac Saint-Frères.
Boussac’s holdings included the department store Le Bon Marché, the retail business Conforama, and the diaper producer Peaudouce, in addition to Christian Dior.
After purchasing Boussac, Arnault lay off 9,000 people in two years, earning him the moniker “The Terminator.”
Arnault put out $1.5 billion in July 1988 to construct a holding company with Guinness that controlled 24% of LVMH’s stock.
In reaction to claims that the Louis Vuitton group was buying LVMH shares to create a “blocking minority,” Arnault invested $600 million to increase his stake in the company to 13.5%, making him the company’s largest stakeholder.
Following his appointment as CEO, Arnault guided the firm through an ambitious expansion strategy, developing it into one of the world’s greatest luxury conglomerates, alongside Swiss luxury conglomerate Richemont and French conglomerate Kering.
On March 7, 2011, Arnault announced the purchase of 50.4 percent of Bulgari’s family-held shares, with the intention of making a tender offer for the remaining publicly held shares.
The deal was valued at $5.2 billion. LCapitalAsia was founded by Arnault in 2011 with a $640 million investment.
By January 2018, Arnault had guided the firm to record sales of 42.6 billion Euros in 2017, up 13% from the previous year, with solid results across the board.
The net profit climbed by 29% in the same year. Arnault announced his intention to buy Tiffany & Co. for $16.2 billion in November 2019.
LVMH has expanded to become the largest business in the Eurozone by market capitalization during Arnault’s leadership, with a record of 313 billion euros ($382 billion) as of May 2021.
His company’s social media handles:
Private & early life
Ferret-Savinel sold the industrial construction section three years later after persuading his father to move the company’s focus to real estate.
Ferret-Savinel was renamed Ferinel.
The corporation rebranded the real estate business to the George V Group after acquiring a textile firm and relocating its headquarters.
Later, the real estate holdings were sold to Compagnie Générale des Eaux (CGE), which became Nexity.
He married Anne Dewavrin in 1973, and the couple has two children, Delphine and Antoine. They split up in 1990.
He married Canadian concert pianist Hélène Mercier in 1991, and they have three children: Alexandre, Frédéric, and Jean. Hélène Mercier and Bernard Arnault are presently residing in Paris.
Delphine, Antoine, Alexandre, and Frédéric, along with Arnault’s niece Stephanie Watine Arnault, all have formal responsibilities in brands held by him.
Bernard Arnault has been the father-in-law and partner of Xavier Niel, a French billionaire businessman involved in the telecommunications and technology industries, since 2010.
Investments
He bought Château Cheval Blanc in a personal capacity with businessman Albert Frère in 1998. In 2009, LVMH bought Arnault’s portion to complement the group’s other wine property, Château d’Yquem.
Through his business Europatweb, Arnault invested in a range of web firms from 1998 to 2001, including Boo.com, Libertysurf, and Zebank. In 1999, Groupe Arnault made a similar investment in Netflix.
Arnault and California property firm Colony Capital control 10.69 percent of Carrefour, France’s largest grocery retailer, and the world’s second-biggest food wholesaler, according to Blue Capital.
He entered the yachting sector in 2008, purchasing Princess Yachts for 253 million euros. Following that, he bought Royal van Lent for almost the same price.
Awards
| Year | Award |
|---|---|
| 2007 | Commandeur de la Légion d’Honneur |
| 2011 | The Woodrow Wilson Award for Global Corporate Citizenship |
| 2011 | Grand Officier de la Légion d’Honneur |
| 2012 | Honorary Knight Commander of the Most Excellent Order of the British Empire |
| 2014 | The Museum of Modern Art’s David Rockefeller Award |
Net worth statistics
- March 2012 – $41.1 B
- March 2013 – $29.0 B
- March 2014 – $33.5 B
- March 2015 – $37.2 B
- March 2016 – $34.3 B
- March 2017 – $41.5 B
- March 2018 – $72.2 B
- March 2019 – $76.4 B
- April 2020 – $76.2 B
- April 2021 – $150.4 B
- April 2022 – $158 B
