Bernard Arnault Biography
Bernard Arnault born 5 March 1949) is a French billionaire business magnate, and art collector. Arnault is the chairman and chief executive of LVMH Moët Hennessy – Louis Vuitton SE, LVMH, the world’s largest luxury-goods company. He is the richest person in Europe and the third-richest person in the world, with a net worth of $106.6 billion, as of November 2019. In April 2018, he became the richest person in fashion, topping Zara’s Amancio Ortega.
Bernard Arnault, chairman and CEO of LVMH, is now worth more than $106 billion, according to real-time wealth rankings tracked by Forbes. https://t.co/XxG6RoLaTV
— CNN (@CNN) November 25, 2019
Bernard Arnault Early Life
After graduating from the Lycée Maxence Van Der Meersch in Roubaix, Arnault was admitted to the École Polytechnique in Palaiseau, from which he graduated with a M.Sc, degree in 1971.
His father, Jean Leon Arnault, a graduate of École Centrale Paris, was a manufacturer and the owner of the civil engineering company, Ferret-Savinel.
Europe’s wealthiest man —LVMH chief Bernard Arnault — is spending more than $1 billion on a Paris department store at a time when other shops are going out of business.
La Samaritaine, part of the billionaire’s luxury empire, will reopen next April after a 15-year renovation pic.twitter.com/ensmW5KciN
— Bloomberg TicToc (@TicToc) November 23, 2019
Bernard Arnault Career
rom 2010 until 2013, Arnault was a member of the Board of Advisors of the Malaysian 1MDB fund.
Bernard Arnault Other investments
From 1998 to 2001, Arnault invested in a variety of web companies such as Boo.com, Libertysurf, and Zebank through his holding Europatweb. Groupe Arnault also invested in Netflix in 1999.
In 2007, Blue Capital announced that Arnault owns jointly with the California property firm Colony Capital acquired 10.69% of France’s largest supermarket retailer and the world’s second-largest food distributor Carrefour.
In 2008, he entered the yacht business and bought Princess Yachts for 253 million euros. He subsequently took control of Royal van Lent for an almost identical amount..
Louis Vuitton is buying US-based jeweller Tiffany & Co for more than $16bn (£12.5bn)
— BBC Business (@BBCBusiness) November 25, 2019
In 1998, with businessman Albert Frère he purchased Château Cheval Blanc in a personal capacity. LVMH acquired Arnault’s share in 2009 to add to the group’s other wine property Château d’Yquem.
Bernard Arnault Family and Personal Life
His children Delphine, Antoine, Alexandre and Frédéric all have official roles in brands controlled by Arnault along with his niece Stephanie Watine Arnault.
Arnault owned the 70 m (230 ft) converted research vessel Amadeus, which was sold in late 2015. His current 101.5 m (333 ft) yacht Symphony was built in the Netherlands by Feadship.
— Arash Massoudi (@ArashMassoudi) November 24, 2019
Bernard Arnault Awards
- Commandeur of the Légion d’Honneur (10 February 2007)
- Grand Officer of the Légion d’Honneur (14 July 2011)
- The Woodrow Wilson Award for Global Corporate Citizenship (2011)
- Honorary Knight Commander of the Most Excellent Order of the British Empire (2012)
- The Museum of Modern Art’s David Rockefeller Award (March 2014)
Bernard Arnault World’s Richest Man
- LVMH’s Arnault is currently the third richest man in world, right behind Gates
- Arnault has a net worth of $106.8bn just Gates, who has net worth of $107billion
- Amazon’s Jeff Bezos still holds the top spot with net worth of $110.5billion
- Once Arnault acquires Tiffany’s in 2020, his net worth is expected to pass Bezos
- LVMH announced its deal to purchase the Manhattan-based jeweler on Sunday
- The companies confirmed they were in talks last month after LMVH presented the 180-year-old jeweler with an unsolicited offer of $14.5billion, or $120/share
- Both companies settled on a price of $135 per share, or $16.2billion in total
- Tiffany, known for its delicate jewelry, distinctive blue boxes and a 1961 Audrey Hepburn movie, says the deal will ensure its long-term sustainability