|Net Worth:||$135 Billion|
|Date of Birth:||March 5, 1949 (74 years old)|
|Profession:||Businessperson, Business magnate|
What is Bernard Arnault’s net worth? How does Bernard Arnault make his money? Below is the current net worth of Bernard Arnault and how Bernard Arnault makes his money.
What is Bernard Arnault’s Net Worth?
Bernard Arnault is a French business magnate who has a net worth of $135 billion. He is among the globe’s wealthiest individuals, somewhere behind Jeff Bezos and Bill Gates according to his net worth.
On March 5, 1949, in Roubaix, France, Bernard Jean Étienne Arnault was born. The father of the little kid was Jean Léon Arnault, an entrepreneur and alumnus of École Centrale de Paris. His father, Étienne Savinel, founded the Ferret-Savinel civil engineering firm and reared his mother, Marie-Josèphe Savinel.
Savinel gave possession and administration of Ferret-Savinel to Bernard’s father Jean Léon Arnault in 1950. In 1971, Bernard gained his bachelor of engineering course from the École Polytechnique, the foremost educational university in France.
Initial Stage Of Career
As soon as Arnault received his diploma in 1971, he decided to work for his father’s business, Ferret-Savinel (which was previously owned by his maternal grandfather). From 1978 till 1984, he held the position of company director after being appointed to it.
He contributed to the business’s prospetus to switch its concentration from building to residential housing while he was employed by Ferret-Savinel, which turned out to be a smart tactical choice. Then, in 1984, he acquired the luxury goods company Financiere Agache with the aid of Antoine Bernheim.
In contrast to becoming CEO of Financiere Agache, he also acquired the textile producer Boussac Saint-Freres. All of the Boussac assets, including the luxury retailer Christian Dior and the department store Le Bon Marche, were auctioned by Arnault excluding those two.
Arnault believed that the creation of the high-end conglomerate LVMH, which includes Christian Dior, in 1987 had put him in a position of higher riches than ever before as payback for his astute business choices. Mot Henessy and the opulent brand Louis Vuitton teamed together to form the company in 1987, which marked its beginning.
He invested $1.5 billion in the endeavor and established a private equity entity with Guinness in July 1988 in order to obtain 24% of LVMH’s shares. As reports of the Louis Vuitton group attempting to purchase LVMH shares in order to create an “obstructing minority” spread, Arnault made an extra investment of $600 million to gain 13.5% of the firm’s profitability.
This situation leads to his becoming LVMH’s majority shareholder. Under Arnault, LVMH expanded quite quickly. In just eleven years, the corporation’s market value climbed by 15 times, and its profits and revenues expanded by a factor of 5 as well.
Notwithstanding the corporation controlling a sizable portion of them (75 altogether as of June 2020), Arnault has maintained promoting a decentralized strategy for the businesses, which helps to build them as independent businesses with their own histories and storylines.
Some of the other assets managed by LVMH are Céline (bought in 1988), Berluti (1993), Kenzo (1993), Guerlain (1994), Loewe (1996), Marc Jacobs (1997, Sephora, 1999), Thomas Pink (2000), Emilio Pucci (2002), and Fendi (2003). (in 2001).
1973 saw the marriage of Arnault and Anne Dewavrin; their divorce came about in 1990. They are both parents of two children. He married Canadian classical pianist Hélène Mercier in 1990. There are three children raised by the couple.
After a horrific fire damaged the famous Notre Dame Cathedral in Paris, France, in 2019, Arnault and his family pledged €200 million to help with recovery and reconstruction efforts.
As of this writing, Bernard Arnault has a net worth of $135 billion.
Here on Networthforum, we calculate all net worths using data drawn from public sources. Most times, we incorporate tips and feedback received from the individuals or their representatives.
While we always strive to ensure that our figures are as accurate as possible, please note that they are only estimates, unless otherwise indicated.
This page is updated from time to time so that our readers will know the current net worth of Bernard Arnault. So feel free to check back for the current Bernard Arnault net worth in case of any update on his net worth.