Bernard Arnault is a French billionaire businessman and art collector who is currently the chairman and CEO of LVMH, the world’s leading luxury goods company. He is one of the most successful and influential businessmen in the world and has a net worth of over $200 billion, making him the richest person in Europe and the third-richest person in the world. In this article, we will take a closer look at Bernard Arnault’s success story and how he became the face of luxury fashion and style.
Early Life and Education
Bernard Arnault was born in Roubaix, France, on March 5, 1949, to a family of industrialists. His father owned a civil engineering company and was a member of the French Resistance during World War II. Arnault was at the prestigious École Polytechnique in Paris, where he studied engineering. He later attended the École des Hautes Études Commerciales, where he studied business administration.
After completing his education, Arnault began his career in his family’s construction company, Ferret-Savinel, where he worked as an engineer. But, he soon realized that his true passion lay in business and entrepreneurship. In 1978, he founded his own company, Ferinel, which specialized in developing luxury holiday resorts.
In 1984, Arnault acquired the bankrupt textile company Boussac Saint-Frères, which owned the prestigious fashion brand Christian Dior. He restructured the company, focusing on the luxury market, and turned it into a profitable venture. This was the beginning of Arnault’s rise to fame and fortune in the fashion industry.
LVMH and the Luxury Goods Industry
In 1987, Arnault founded LVMH, which stands for Louis Vuitton Moët Hennessy, by merging fashion house Louis Vuitton with champagne and cognac maker Moët Hennessy. The new company was an instant success, as it brought together some of the most famous luxury brands in the world. Today, LVMH is the world’s leading luxury goods company, with over 70 prestigious brands in its portfolio, including Christian Dior, Louis Vuitton, Fendi, Givenchy, Bulgari, and many others.
Arnault’s business strategy for LVMH was to Get luxury brands that were underperforming or undervalued, and then restructure and reposition them in the market. He focused on creating synergy between the different brands, and on developing a strong corporate culture that emphasized creativity, innovation, and excellence. He also invested marketing and advertising, creating some of the most iconic and memorable campaigns in the fashion industry.
Under Arnault’s leadership, LVMH has become the face of luxury fashion and style, with a presence in over 150 countries. The company has also expanded into other areas, such as perfumes, cosmetics, watches, and jewelry, and has established itself as a leader in the art and hospitality industries.
Philanthropy and Art Collection
Bernard Arnault is not only a successful businessman but also a renowned art collector and philanthropist. He has an extensive collection of contemporary art, including works by Picasso, Jeff Koons, and Damien Hirst. He also owns the prestigious Parisian auction house, Phillips de Pury & Company.
Arnault is for his support of the arts, and he has donated millions of dollars to various cultural institutions, such as the Louvre Museum and the Fondation Louis Vuitton, which he founded in 2006. The foundation is to promote contemporary art and culture and has hosted some of the most innovative and groundbreaking.
Bernard Arnault’s net worth
As of my knowledge cutoff in September 2021, Bernard Arnault had a net worth of over $150 billion, according to Forbes. But, net worth can fluctuate based on various factors such as market changes, investments, and business deals. It is important to note that net worth estimates are subject to change over time, and the most up-to-date figures may be different from those reported in the past.
Bernard Arnault has been twice in his life.
His first marriage was to Anne Dewavrin, whom he married in 1973. Together, they had two children: a daughter named Delphine and a son named Antoine. But, the couple divorced in 1990, after 17 years of marriage.
Arnault’s second marriage was to Canadian pianist and philanthropist Hélène Mercier, whom he married in 1991. The couple has three children together: two sons, Alexandre and Frédéric, and a daughter, Jeanne. They have been for over 30 years and are to keep their private life out of the public eye.
, Bernard Arnault’s family life has been private, and he has not shared many details about his personal relationships in public.