Bernard Arnault
Date of Birth: 03.05.1949
Bernard Arnault (French: Bernard Arnault) is a French businessman, president of the LVMH group. He owns about 70 brands, including Dom Perignon, Bulgari, Louis Vuitton, Sephora, and Tag Heuer, as well as nearly 3900 retail stores. He is the richest man in France and, according to Forbes, the third richest man in the world. In February 2021, Arnault's fortune was estimated at $156.5 billion.
Place of Birth. Education. Bernard Arnault was born on March 5, 1949, in the French city of Roubaix. His father, Jean Leon Arnault, a graduate of École Centrale Paris, was a producer and owner of the construction company Ferret-Savinel.
After graduating from the Maxence Van Der Meersch High School in Roubaix, Arnault was admitted to the Polytechnic School, which he graduated from in 1971 as an engineer.
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Business. In 1971, Bernard Arnault started working in his father's company Ferret-Savinel. In 1976, he persuaded his father to liquidate the company's construction sector for 40 million French francs and shift the business focus to real estate. In 1974, Arnault became the company's development director, and in 1977 he was appointed general director. In 1979, he replaced his father as president of the company.
In 1984, with the help of Antoine Bernheim, senior partner of Lazard Frères et Cie, Arnault acquired Financière Agache, a luxury goods manufacturer. He became the general director of Financière Agache and subsequently took over Boussac, a textile company. Boussac owned Christian Dior, the Le Bon Marché department store, and the retail network. He sold almost all the company's assets and retained only the prestigious Christian Dior brand and the Le Bon Marché department store.
In 1989, 40-year-old Bernard Arnault, using a bank loan, purchased LVMH shares worth $1.8 billion, thus becoming the owner of a 24% stake. The following year, he consolidated 43% of the shares.
In July 1988, Arnault acquired Celine. In 1993, LVMH took over Berluti and Kenzo. In the same year, Arnault purchased the French economic newspaper La Tribune. Despite investments of 150 million euros, the newspaper was unsuccessful and he sold it in November 2007 to buy another French economic newspaper, Les Échos, for 240 million euros.
In 1994, LVMH acquired the perfume company Guerlain. In 1996, Arnault acquired Loewe. After Marc Jacobs and Sephora in 1997. These brands were also included in the group: Thomas Pink in 1999, Emilio Pucci in 2000, and Fendi, DKNY, and La Samaritaine in 2001.
Bernard Arnault is the majority shareholder of the LVMH group (Louis Vuitton Moët Hennessy). Arnault owns fashion brands such as Dior, Givenchy, Selin, Lacroix, Kenzo, Frank et Fils- and Le Bon Marche stores, the famous Chateau d'Yquem vineyard with a four-century history. He also owns the Guerlain brand and the network of well-known perfume shops Sefora. Arnault owns famous alcoholic brands like Hennessy cognac, Moët & Chandon champagne, Dom Perignon, Pommery, Veuve Clicquot, and Krug.
In 2012, the businessman applied for Belgian citizenship. Although Arnault himself stated that his actions were aimed at promoting investment in Belgium, many believe that it was about avoiding taxes after French President François Hollande decided to introduce a 75% tax on individuals with an income over one million euros per year.
Wealth. Bernard Arnault was for many years one of the richest men in France according to the rankings published by Forbes. In 2011-2012, the businessman rose to 4th place on the list of the richest people in the world, with a personal fortune of $41 billion.
In 2013, the industry experienced a significant downturn, which affected Bernard Arnault's wealth: his fortune fell to $29 billion, and he slipped to the end of the first ten.
The years 2014-2016 were quite successful for Bernard Arnault; his wealth rose again, but that was not enough to return to the Forbes list. By early 2017, the financier's corporate wealth had returned to its pre-crisis level of $41 billion, but that only brought him 11th place in the ranking.
In April 2017, his wealth was estimated at $55.9 billion. He became the richest man in France and the eighth richest man in the world according to Forbes.
In spring 2018, he was named the richest man in Europe by Bloomberg, with a fortune of 81 billion euros. He also ranked 4th among the richest people in the world, after Jeff Bezos, Bill Gates, and Warren Buffett.
In 2020, his fortune was $107 billion and ranked 2nd among the richest people in the world according to Bloomberg.
In February 2021, Arnault's fortune was estimated at $156.5 billion. He ranks 3rd on the list of the richest people in the world according to Forbes.
Patron and Collector. Bernard Arnault is also known as a patron and collector, founder of the Louis Vuitton Museum in Paris. Arnault is known for his modern collection, which includes works by Picasso, Yves Klein, Henry Moore, and Andy Warhol. He also played a significant role in establishing LVMH as a major supporter of art in France. The LVMH group has established the 'Young Fashion Designer' prize. This international competition is open to students from art schools. The winner receives a scholarship every year to help them establish their own label and a year of training.
Awards. Commander of the Legion of Honor.
Family. Twice married (last marriage in 1991), father of five children. In his first marriage to Anne Devavren, they had two children: Antoine and Delphine. His second wife, pianist Hélène Mercier, gave birth to three sons.
03.05.2022