Who Is Bernard Arnault - World’s Richest Man in 2023: Biography, Personal Life, Net Worth
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Who is Bernard Arnault?
Arnault is a French businessman, who is currently the Chairman and CEO of LVMH Moët Hennessy Louis Vuitton, one of the most valuable luxury products groups in the world. The group owns some 70 companies, including Dom Perignon (wines), Louis Vuitton, Fendi and Marc Jacobs (clothing) and Fenty Beauty by Rihanna (make-up).
Arnault was born to an industrial family in Roubaix, France. He studied engineering at one of France's most prestigious schools, the École Polytechnique. After graduating, Arnault went to work for his father's construction company, Ferret-Savinel.
He began his professional career as an engineer and became Chairman in 1978. Then in 1984, he undertook the reorganisation of the Financière Agache holding company. “He returned the group to profitability as he embarked upon a strategy of developing the world’s leading luxury products company. In the process, he reinvigorated Christian Dior as the cornerstone of the new organization,” according to the LVMH website.
In 1989, he became the majority shareholder of LVMH Moët Hennessy – Louis Vuitton. Since then he has been Chairman and CEO of the company. His four children are also involved in the different companies that come under the group.
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Bernard Arnault's Personal Life
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| Photo CNBC |
Arnault married Anne Dewavrin in 1973, and they had two children together before separating in 1990. Arnault remarried in 1991, to Hélène Mercier, a Canadian concert pianist. He reportedly wooed her by playing Chopin and other classical composers.
| How many children does he have? Arnault has five children: two with his first wife and three with his current wife. |
| Who are Bernard Arnault's children? Antoine and Delphine Arnault are his two children from his first marriage. His youngest three — Alexandre, Frédéric, and Jean — are from his second marriage, to Mercier. Delphine, Arnault's oldest daughter, is the apparent heiress to the LVMH empire. She started her career at American consultancy firm McKinsey & Co. in Paris and is now the executive vice president at Louis Vuitton. In January 2019, Delphine became the youngest member of LVMH's executive committee at age 43. Delphine's younger brother Antoine is chief executive of menswear label Berluti and chair of the cashmere label Loro Piana, both LVMH brands. He's married to supermodel Natalia Vodianova, whom he reportedly met on a shoot for a 2008 Louis Vuitton campaign when he was the brand's head of communications. Alexandre, the son of Bernard Arnault and Mercier, is an executive at Tiffany & Co. LVMH acquired Tiffany & Co. in 2021, after which Alexandre became the company's executive vice president of product and communications. Prior to moving over to Tiffany, Alexandre was the CEO of Rimowa, a German luggage brand owned by LVMH. Alexandre is longtime friends with Evan Spiegel, the chief executive of Snap. Spiegel told The New York Times that Alexandre is "a really creative guy" and that "he's constantly thinking about the brand and how to express that." Alexandre's younger brother Frédéric is the CEO of TAG Heuer. Arnault's youngest son, Jean, joined the family business in 2021. Jean Arnault became marketing and product director in Louis Vuitton's watch division in August 2021. Jean, who was 23 at the time, has a master's degree in financial mathematics from Massachusetts Institute of Technology, as well as a master's in mechanical engineering from Imperial College London, WWD reported. |
How Did Bernard Arnault Make His Money?
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| Photo REUTERS |
Arnault currently owns USD186.2 billion, acting as the chairman for LVMH Moet Hennessy Louis Vuitton, the world's largest maker of luxury goods (he controls about half the company). Their revenue last year was $55.3 billion. Their brands include Christian Dior, Louis Vuitton, TAG Heuer watches, Dom Perignon champagne, Sephora, FENTY, and many more.
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| Do you know…? Every Saturday, Arnault visits as many as 25 stores -- including both his and those of his competitors. |
| Bernard Arnault is the world’s richest person now, with an estimated net worth of $186.3 billion—putting him $300 million above Jeff Bezos, who is worth $186 billion, and Elon Musk, worth $147.3 billion. Arnault’s fortune has jumped from $76 billion in March 2020 to $186.3 billion on Monday, a massive rise of over $110 billion in the past 14 months, thanks to a pandemic-defying performance by his luxury group LVMH (Louis Vuitton Moët Hennessy). |
What Brands Does Bernard Arnault Own?
LVMH's 70+ luxury brands fall into a variety of industries – including fashion, cosmetics, wines, cosmetics, jewelry, and others. The largest percentage of Bernard Arnault's net worth is derived from his 97.4% stake in Christian Dior, a luxury fashion brand for men and women. He also has an 8.6% stake in Hermes and 1.9% of Carrefour. In 2018, LVMH had around $53 billion of revenue.
In 2021, things are looking even more dapper for the LVMH brand, according to Reuters.
Its fashion and leather goods division, which houses Vuitton, Dior and brands such as Fendi and which accounts for nearly half of LVMH’s revenues, recorded a 52% increase in like-for-like sales, again way above analysts forecasts of a 27% rise.
The watches and jewellery division’s sales rose by 138% when including acquisitions and exchange rate effects, benefiting from the consolidation of Tiffany.
LVMH completed the $15.8 billion acquisition in early January after a legal battle.
READ MORE: Top 5 Most Expensive Louis Vuitton Handbags Ever
| What Is Louis Vuitton Company Worth? The company is worth slightly over $40 billion. It grew 15% over the last year and is now the world's most valuable luxury brand. |
| How Much of LVMH Does Arnault Own? Since Christian Dior owns 40.9% of LVMH's shares, this number is close to the amount that Arnault owns. |
How rich is Bernard Arnault?
Like many of his fellow billionaires, Arnault lives a lavish life.
He travels by private jet, owns a sprawling vacation villa in glitzy Saint-Tropez on the French Riviera, and reportedly has also spent at least $96.4 million on residential properties in the Los Angeles area: in Beverly Hills, and in the Trousdale Estates and Hollywood Hills neighborhoods.
The French billionaire and his wife live on Paris's Left Bank, south of the Seine River, a historic area that includes neighborhoods such as the Latin Quarter and St. Germain-des-Prés.
In their home, Arnault keeps a collection of modern and contemporary art from artists that include Jean-Michel Basquiat, Damien Hirst, Maurizio Cattelan, Andy Warhol, and Pablo Picasso.
| Bernard Arnault House Collection With as much money as he has, it's no surprise he has more homes than he can live in. Even so, his portfolio is surprisingly smaller than we expected. Bordeaux, France: Bernard Arnault's house that he lives at full-time is a lovely 150-year-old castle surrounded by vineyards located in northwest Saint-Emilion in Bordeaux, France. It has belonged to the Arnault family since 1998. French Alps: Although Cheval Blanc is a glamorous hotel, it was created by Bernard Arnault for his business and personal travel. It's located in the largest ski area in the world. With 34 luxury rooms, a private Chalet, and a penthouse, each room has a balcony with mountain views. The hotel also offers a large heated pool with sauna, jacuzzi, and a fitness center. Paris, France: Bernard Arnault also owns an elegant, massive villa on the island of St. Tropez that he uses for vacations. Beverly Hills, California: While most of his homes are in France, the billionaire also has five different homes in Beverly Hills. They're worth $125 million in total. Two of them are located right next to each other in the Trousdale Estates neighborhood, while another two are also right next to each other in the Bird Streets neighborhood. With each of these locations, he reportedly plans to tear down the luxury homes and create one gigantic home to cover both lots. His Beverly Hills homes went under the radar for a long time since they were purchased by an LLC that masked his identity. What other homes is he hiding? Superyacht Bernard Arnault's yacht isn't any old boat; it's a superyacht! It's valued at $150 million and is incredible. It carries 36 passengers with a glass-bottom pool on the main deck, an outdoor cinema, a jacuzzi, Private Jet It's no surprise that Arnault owns a private jet. His Dassault Falcon 7X jet with OY-FWO registration. It's green has a listing price of $40 million. Before this, he owned a Bombardier Global Express with registration F-GVML. Private Island When you're a billionaire, why not buy a private island while you're at it? Arnault reportedly owns the 133-acre Indigo Island in the Bahamas, purchased for $35 million. Art Bernard Arnault's net worth has encountered a slight ding from his world-class collection of art. He owns works by Picasso, Henry Moore, Andy Warhol, and Yves Klein. In relation, he launched LVMH's international competition for students from fine-arts schools in 2013. Every year, the winner receives a $340,000+ grant to support the creation of their own label, plus a year of mentorship. Previously, Bernard also owned an art auction house named Phillips de Pury & Company. |
Other Investments Adding to Bernard Arnault's Net Worth
It's no secret that Bernard Arnault likes to invest his money. He has invested in a variety of startups, including Netflix, Boo.com, Libertysurf, and Zebank. Years ago, he entered the yacht business with his purchases of Princess Yachts for over $200 million and Royal van Lent for a similar price.
| Donations Surprisingly, Bernard Arnault's donations list isn't very large, considering how much money he has. The only notable contributions we found were when his family pledged $234 million to help repair the Notre-Dame cathedral after the 2019 fire. In addition, he donated $11 million to help fight Amazon wildfires. Even so, his smaller donations may not receive as much publicity as these larger ones. |
Bernard Arnault Famous Quotes
| "Luxury goods are the only area in which it is possible to make luxury margins." |
| "I see myself as an ambassador of French heritage and French culture. What we create is emblematic. It's linked to Versailles, to Marie Antoinette." |
| "What we do in our group is the opposite of the bad effects of globalization. We produce in Italy and in France, and we sell to China when usually it's the opposite." |
| "I see myself as an ambassador of French heritage and French culture. What we create is emblematic. It's linked to Versailles, to Marie Antoinette." |
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