Bernard Arnault is an entrepreneur, investor, as well as art collector from France. He is the chairman and CEO of the world’s largest luxury products firm, LVMH Mot Hennessy – Louis Vuitton SE. As per Forbes, Arnault is the world’s third-wealthiest man and Europe’s wealthiest person as of 31 January 2022.
Bernard Arnault, the leader at the helm of luxury’s greatest conglomerate, has made a lasting impression on the fashion business, thanks to the sheer scope of the firm’s acquisitions and continued success. Besides LVMH, Arnault is in charge of a number of other investing and holding companies.
Bernard Arnault Bio/Wiki[table id=2968 /]
Bernard Arnault was born in Roubaix, France, on 5th March 1949 to Marie-Josèphe Savinel and Ferret-Savinel. His mother had an obsession with Dior. And his father was the owner of a construction company. Bernard was always encouraged to take his father’s footsteps into the construction business.
Arnault received his education at Roubaix’s Lycée Maxence VanDer Meersch as well as Lille’s Lycée Faidherbe. He graduated at France’s top engineering school, the École Polytechnique, in 1971 and went to work for his father’s firm.
Bernard was soon a real estate agent. When he heard that French Government will choose someone for taking over Christian Dior’s largest shareholding firm Boussac Saint Freres, Bernand was first to join in and that how he started his career in fashion.
Bernard Arnault Net Worth
Bernard Arnault has a estimated net worth of around $184 billion dollars as of 2023.[table id=2973 /]
The majority of Arnault’s riches came from Christian Dior, in which his family owns a 73 percent share. Christian Dior owns 41% of LVMH, the world’s biggest luxury products conglomerate.Currently, he is the third richest man after Elon Musk and Jeff Bezos.
Bernard Arnault House List[table id=2974 /]
- Bernard Arnault after graduating from École Polytechnique, he took over his father’s building company, Ferret-Savinel, in 1971.
- He renamed the firm Férinel Inc. and turned its concentration to property investment eight years later. He worked as a real estate developer for years.
- Eventually, the property investment holdings were acquired by Compagnie Generale des Eaux, which became Nexity.
- Arnault and Antoine Bernheim, a managing-partner of the French firm Lazard Frères & Co., financed the $80 million needed to buy Boussac Saint Freres, a struggling textile firm that held the Christian Dior design label, plus $15 million about his own money.
Acquisition of LVMH
- The LVMH’s chairman, Henri Racamier, then asked Arnault to put money in LVMH in 1987. Arnault put $1.5 billion to own 24% stake at LVMH in 1988.
- Eventually, Arnault overthrown Racamier during 1990 and began to clean up a slew of fashion brands into the LVMH fold, including Givenchy, Kenzo & Christian Lacroix, the luxury retail companies Céline, Berluti & Loewe, the jeweller Fred Joailler, the world’s largest duty-free chain DFS group, and the beauty retail chain Sephora, through a merger with Guinness PLC.
- In 1995, Bernard Arnault was credited with revitalising French couture by hiring British designer named John Galliano to take over the legendary Hubert de Givenchy’s Paris fashion company.
- A year afterwards, the Pope of Fashion, as he was nicknamed by Women’s Wear Daily, relocated Galliano into Christian Dior & replaced him at Givenchy with the brazen British fashion designer Alexander McQueen.
- Arnault then appointed Marc Jacobs, a newbie American designer, as artistic director of Louis Vuitton, a premium leather goods company, and LVMH bought a controlling share in Jacobs’s namesake label the same year.
- Despite the fact that all three designers subsequently departed their posts, by the early twenty-first century, Arnault’s fashion vision had reignited interest in these classic fashion firms.
- Arnault continues to purchase luxury companies, including Fendi of Italy in 2003, La Samaritaine of France in 2010, Bulgari of Italy in 2011, Christian Dior in 2017, and Tiffany & Co. in 2021.
LVMH Profitability & Success
- LVMH has expanded becoming the largest business in the Eurozone countries by market valuation during Bernard Arnault’s management, with a milestone exceeding 313 billion euros or 382 billion dollars as of May 2021.
- As a strategic planning, Arnault has pushed for the decentralisation of the group’s businesses. As a consequence of these steps, LVMH brands like Tiffany are always seen as autonomous businesses with their own histories.
- On 24th May 2021, Arnault briefly overtook Jeff Bezos as the richest person in the world, overtaking him with a total wealth of 187.3 billion USD. Nevertheless, Amazon shares rose some hours later, and Jeff Bezos recaptured the top place.
- Bernard made a €200 million donation to the restoration of the Notre Dame Cathedral.
- The Wolf in Cashmere” is his moniker.
- He started his career in the construction business and rose through the ranks to become the CEO of the world’s greatest fashion conglomerate.
- His major break came when he purchased Dior from a bankrupt corporation.
- In the midst of turmoil, he purchased a 24 percent controlling share in Louis Vuitton.
- Bernard Arnault is now the wealthiest person in the fashion industry.
- Picasso, Warhol, Basquiat, and Hirst, are among the artists whose work he owns.
- He’s an excellent pianist.
- He is a tennis fanatic.
- He is said to be the owner of a private Caribbean island in the Bahamas.
Bernard owns a 97.4% stake in Christian Dior, which contributes to his vast fortune.
Arnault put $1.5 billion to own a 24% stake at LVMH in 1988.
Yes, Bernard is worth $184 billion.
Bernard’s investment in luxury brands made him so rich.
Bernard owns a 46.84% stake at LVMH, which has 70 brands under its head.
Bernard’s first wife was Anne Dewavrin and his second & current wife is Helene Mercier.
Yes, Bernard bought Christian Dior’s parent company back in 1985 and ownership which eventually grew over years.
Bernard is known as The Wolf in Cashmere, because of his ruthless & strategic planning to bring the biggest luxury brands under one head.
Bernard started his career with his father’s construction company, which he eventually converted into a real estate business. In 1985, he bought Dior parent company and since then he has been acquiring luxury brands under his LVMH conglomerate.
Yes, Bernard owns a private jet named Dassault Falcon 7X.
Bernard owns a 46.84% stake at LVMH