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| Bernard Arnault Biography Age, Gender, Wiki, Net Worth |
Bernard Arnault is a French business magnate and entrepreneur who has made significant contributions to the luxury goods industry. As of April 2023, Bernard Arnault’s net worth is estimated to be $208 billion, making him one of the richest people in the world. Let’s delve into his life and the milestones that have led him to this impressive position.
Bernard Arnault Biography: Age, Gender, Wiki, Net Worth
Bernard Arnault Early Life and Education
Bernard Jean Étienne Arnault was born on March 5, 1949, in Roubaix, France. His father, Jean Léon Arnault, was a manufacturer and a graduate of École Centrale Paris. Bernard graduated from France’s top engineering school, École Polytechnique, in 1971.
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| Bernard Arnault Biography Age, Gender, Wiki, Net Worth |
Bernard Arnault Career
After his graduation, Bernard began working at his father’s company, Ferret-Savinel, which had diversified into real estate development. In 1978, he became the company’s president, and during his tenure, the company expanded its operations and ventured into other profitable areas.
In 1984, Bernard Arnault acquired Financiere Agache, a luxury goods company, with the help of Antoine Bernheim. He became CEO of Financiere Agache and then also took over the textile company Boussac Saint-Freres out of bankruptcy. Boussac owned many brands and stores, including the luxury brand Christian Dior and the department store Le Bon Marche. Arnault sold all the Boussac assets except Dior and Le Bon Marche.
Using the increased value and profits of Dior, Bernard went on a luxury brand shopping spree. In 1987, he formed LVMH, an umbrella company to own the merged luxury fashion houses Louis Vuitton and Moët Hennessy. Arnault contributed $1.5 billion and formed a holding company with Guinness to capture 24% of LVMH’s shares. By January 1989, he controlled a total of 43.5% of LVMH’s shares and 35% of its voting rights.
Today, LVMH is home to around 60 brands, including Louis Vuitton, Moet, Hennessy, Marc Jacobs, Givenchy, Tag Heuer, Bulgari, and Tiffany & Co. As of this writing, LVMH’s market cap is $384 billion. Bernard and the extended Arnault family continue to own 97% of Dior directly, and Dior owns 41% of LVMH. The family also separately owns an additional 7% of LVMH directly. They have more than 50% of the total voting rights.
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| Bernard Arnault Biography Age, Gender, Wiki, Net Worth |
Bernard Arnault Net Worth
Bernard Arnault’s net worth has made him one of the richest people in the world. In June 2019, his net worth topped $100 billion for the first time, making him the third-richest person on the planet. In July 2019, his net worth topped $108 billion, which placed him as the second-richest person on the planet, roughly $400 million ahead of Bill Gates. He became the richest person on the planet in April 2023, with a net worth of $208 billion.
Conclusion
Bernard Arnault’s journey from his early life to becoming one of the richest people in the world is a story of hard work, determination, and business acumen. His contributions to the luxury goods industry have been immense, and his legacy is one to be admired. We hope this biography has helped you learn more about this iconic businessman.
FAQ
Bernard Arnault FAQS
Bernard Arnault is a renowned French businessman and entrepreneur, known for his contributions to the luxury goods industry. He has made a name for himself as the chairman and CEO of the world’s largest luxury goods company, LVMH.
Bernard Arnault’s company LVMH is home to around 60 brands, including Louis Vuitton, Moet, Hennessy, Marc Jacobs, Givenchy, Tag Heuer, Bulgari, and Tiffany & Co.
Bernard Arnault is the chairman and CEO of LVMH (Louis Vuitton Moet Hennessy), the world’s largest luxury goods company.
LVMH, the luxury goods conglomerate led by Bernard Arnault, owns Louis Vuitton.
Bernard Arnault’s net worth is $208 billion, as of April 2023, making him one of the richest people in the world.
The net worth of the Bernard family is not publicly available, as they are a private family. However, as of 2021, Bernard Arnault’s net worth alone was estimated to be $150 billion, which makes him one of the richest people in the world.
The net worth of the Arnault family is not publicly available, as they are a private family. However, as of 2021, Bernard Arnault’s net worth alone was estimated to be $150 billion, which makes him one of the richest people in the world.
Bernard Arnault earned his money through his various business ventures, including his role as chairman and CEO of LVMH, which owns numerous luxury brands. He also acquired and turned around several struggling companies, such as the textile company Boussac Saint-Freres, which owned the luxury brand Christian Dior. Arnault sold all the Boussac assets except Dior and used the increased value and profits of Dior to expand his luxury brand empire.
