Bernard Jean Étienne Arnaultis a French business magnate, investor, and art collector. He is the chairman and chief executive of LVMH Moët Hennessy – Louis Vuitton SE, the world’s largest luxury goods company. As of March 2022, Arnault is the third-richest person in the world and the wealthiest person from Europe, with an estimated net worth of US $174 billion, according to Forbes. Here are the essential facts about Bernard Arnault net worth forbes, family and career.
- He oversees 70 brands, including Louis Vuitton and Sephora, making him one of the world’s greatest tastemakers.
- LVMH completed a deal to acquire Tiffany & Co in January 2021 for $15.8 billion, the most expensive acquisition in the luxury market to date.
- The luxury hotel group, Belmond, acquired by LVMH in 2019 for $3.2 billion, owns or operates 46 hotels, trains, and river cruises.
- Arnault started with the religious clothing company Christian Dior by investing $15 million in his father’s construction business.
- Frédéric, Delphine, Antoine and Alexandre work for LVMH in different parts of the empire.
What is Bernard Arnault’s net worth forbes?
|Net Worth:||$174 Billion|
|Date of Birth:||Mar 5, 1949 (73 years old)|
|Profession:||Businessperson, Business magnate|
What’s he done to get Bernard Arnault Net Worth Forbes?
Bernard Arnault is France’s richest man and the fourth richest person globally, thanks to his majority stake in LVMH, the world’s largest luxury goods company.
On March 5, 1949, Bernard Arnault was born in Roubaix, France. He began his career working for his father’s construction company, Ferret-Savinel. In 1971, created Financière Agache, a holding company that later merged with Financière Foyer to form Ferinel. In 1979, he joined his father’s company as an assistant director before taking over as chief executive in 1984.
He took control of Boussac Saint-François textile group, which owned Christian Dior, in 1985 and turned it around in less than two years by investing in new designers like John Galliano and Hedi Slimane.
Bernard Arnault has been Chairman and Chief Executive of LVMH Moët Hennessy – Louis Vuitton, the world’s leading luxury Goods Company, since 1989. A graduate of the École Polytechnique and École des Mines in Paris, Bernard Arnault began his career in 1971 at his family’s construction firm, Ferret-Savinel.
In 1984, Bernard Arnault acquired a stake in Financière Agache, a luxury goods holding company. Through this holding company, he acquired Christian Dior S.A., thereby creating the world’s largest luxury group.
This acquisition served as the foundation for LVMH, formed in 1987 when Moët Hennessy merged with Louis Vuitton to become Moët Hennessy Louis Vuitton.
With its more than 70 prestigious brands spanning all product categories, from champagne and cognac to fashion and perfumes, LVMH is present in four sectors: Wines & Spirits, Fashion & Leather Goods, Perfumes & Cosmetics and Watches & Jewelry.
In 2011, Bernard Arnault was named “Lifetime Achievement” by Forbes magazine and ranked number one among the wealthiest people in France for the third consecutive year.
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Bernard Arnault’s Family & Personal Life
Bernard Arnault is the son of Jean Leon Arnault, a manufacturer, and Louise Arlette D’Escoufier. His mother was a French aristocrat from a family whose wealth derived from wheat production. Bernard Arnault called historical figures such as King Louis XVII, King Charles X and King Louis-Philippe of France his ancestors. He began his education at the Lycee Carnot in Paris before being admitted to the elite Ecole Polytechnique engineering school.
Arnault’s father died in 1978, and he took control of his father’s construction company. The company merged with Ferret-Savinel in 1980 to become Ferinel-Fives Lille, which Arnault renamed Fives-Lille Cail after himself and Jean Cail, the new company’s CEO.
In 1979, he married Anne Dewavrin. They had five children — Delphine, Antoine, Frederic, Alexandre and Jean.
Arnault is a fan of tennis player Novak Djokovic, who became an ambassador for Arnault’s Tag Heuer brand in 2013.
Summary: Bernard Arnault Net Worth Forbes
If you compare Bernard Arnault’s net worth forbes with another entrepreneur from France, you will get the idea that he is pretty modest. This can be said about many other famous entrepreneurs. Furthermore, as the Chairman of LVMH, Bernard has contributed immensely to its success. The world today wants to be a part of anything from France. Perhaps elegance, tradition, and simple sophistication contribute to their popularity worldwide. Thus, you can imagine how popular LVMH is in the modern world.