Bernard Arnault Biography: In the previous year, he occupied the first, second, and third positions among the world’s wealthiest individuals. It is said that he has remained among the world’s wealthiest individuals for the past two decades. He is Europe’s wealthiest individual. It is said that he is the most media-averse individual on the planet.
Few images of him appear in the media. Given his current occupation, you may be astonished to learn that he began his career in the construction industry. He is also well-known for purchasing bankrupt companies and restoring them to market dominance.
Bernard Arnault Biography
| Name: | Bernard Arnault |
| Salary: | $7 Billion + |
| Net worth: | $238 billion |
| Date of Birth: | March 5, 1949 |
| Age: | 74 Yrs |
| Gender: | Male |
| Height: | 1.85 m. (6’ 0”) |
| Weight: | 80 kg or 176 lbs. |
| Profession: | Chief Executive of LVMH |
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, owned the civil engineering firm Ferret-Savinel. In 1950, Savinel transferred the administration 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 top engineering institution in France, École Polytechnique.
Career
Arnault attended the Lycées Maxence Van Der Meersch and Faidherbe in Roubaix and Lille, respectively. In 1971, he graduated from École Polytechnique and began working for Ferret-Savinel, his father’s enterprise. He acquired the luxury products company Financière Agache and won the bidding war for Boussac Saint-Frères. In 1987, he co-founded LVMH with Alain Chevalier, the CEO of Mot Hennessy, and Henry Racamier, the president of Louis Vuitton. In 1988, he contributed $1.6 billion to establish Guinness a holding company that held 24% of LVMH’s shares.
To rumours that the Louis Vuitton group was purchasing LVMH shares, Arnault spent $600 million to purchase an additional 13.5% of LVMH, thereby becoming the company’s largest shareholder. The concept for Louis Vuitton (LVMH) was that it would be too large for a single hostile raider. However, this premise failed to account for attempts at internal takeover. Charles Arnault spent $500 million in January 1989 to acquire 43.5% of LVMH’s shares and 35% of its voting rights. He then turned against Racamier, divested him of his authority, and removed him from the board.
After eleven years, LVMH’s annual revenue and net income increased by a factor of 5, while its market value increased by a factor of 15. In July 1988, Arnault acquired Céline and sponsored Christian Lacroix, a French fashion designer. In 1994, LVMH acquired the Guerlain perfume company. Arnault acquired Loewe in 1996, followed by Marc Jacobs and Sephora. Additionally, five more brands were incorporated into the group.
In the 1990s, Arnault decided to establish an LVMH headquarters in New York City. In the same year, he set his sights on Gucci, an Italian leather products manufacturer.
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Bernard Arnault Net worth
Bernard Arnault, the world’s most successful CEO of LVMH, has a net worth of $238 billion. According to various online resources (Wikipedia, Forbes, IMDB), the estimated net worth of LVMH’s most prominent CEO, Bernard Arnault, is approximately $238 Billion.
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 devastating fire that severely damaged the historic Notre Dame Cathedral in Paris, France, Arnault and his family pledged €200 million euros to aid in the restoration efforts.
Art Exhibition
Arnault is also well-known for his passion for art acquisition, among other things. Through LVMH, Arnault has sponsored exhibitions in France that have featured such internationally renowned artists as Pablo Picasso and Andy Warhol, among others.
