Bernard Arnault Net Worth
Table of Contents
Bernard Arnault is a French businessman and art collector,
who is best known as the co-founder and chairman of Louis Vuitton. He is also
an investor, and a successful businessman. According to Wikipedia, Arnault is
poised to become the richest person in the world by December 2022 when he will
have succeeded Elon Musk as the CEO of Tesla. This article provides an overview
of his net worth.
Personal Life Of Bernard Arnault
Bernard Arnault has had two previous marriages, the first
with Ann Devavrin in 1973 and the second, his current marriage, with Helen
Mercier in 1991. Five of his children are also involved in the LVMH empire,
including Frederic Arnault, Antoine Arnault, Delphine Arnault, and Frederic
Arnault. Bernard Arnault was born on March 5th, 1949 to Jean Léon Arnault and
Marie-Josèphe Savinel. He will turn 73 years old in 2022 and is 80 kg and 1.85
meters tall.
Early Life of Bernard Arnault
Bernard Arnault was born on March 5, 1949 in Roubaix, France
to Marie-Josèphe Savinel and Ferret-Savinel. His mother had a strong interest
in the brand Dior. His father, on the other hand, had a business in
construction, and Bernard was often encouraged to pursue a career in the same
field.
Bernard Arnault Biography
Bernard Arnault, according to Forbes, is currently the
wealthiest person on Earth. He has amassed his fortune through his business,
which sells over 70 luxury goods and cosmetics. His high-end clothing line is a
major contributor to his wealth. He has also been awarded the title of
Commander of the Legion of Honor, one of France's highest honors.
Bernard Arnault Profile Overview
| Bernard Arnault Net Worth | $157 Billion |
|---|---|
| Name | Bernard Arnault |
| Salary | $7 Billion + |
| Monthly Income | $1 Billion + |
| Date of Birth | March 5, 1949 |
| Profession | Chief Executive of LVMH |
| Nationality | French |
Career & Education Of Bernard Arnault
After graduating college, Bernard Arnault joined his father's business and set a strategy to diversify and expand into more profitable ventures.
Bernard's initial business strategy was to convince his
father to dismantle the construction division and benefit from it. Following
the closure of the construction company, the family began to make profitable
real estate investments. Bernard quickly advanced in the corporate world,
holding the roles of Director of Development in 1974, CEO in 1977, and
President in 1979, ultimately surpassing his father.
In 1981, the French Socialists forced the family to relocate
to America, however, they continued to flourish by expanding their real estate
ventures in the US. In 1983, when the company Boussac Saint-Freres filed for
bankruptcy, Arnault saw an opportunity to enter the textile industry. He
secured funding for his acquisition of Boussac by negotiating with Antonie
Bernheim, a managing partner at the financial firm Lazard Freres.
Bernard Arnault & Louis Vuitton
After acquiring the company, Arnault divested most of the
shares, retaining only the Christian Dior brand name and Le Bon Marche
department store. By 1985, he became the CEO of Dior. In 1987, when offered the
opportunity to join LVMH, Arnault ultimately decided to participate in a joint
venture with Guinness PLC.
He continued to invest and expand his stake in the company
over the next several years. By 1989, he had acquired a 43.5% controlling share
of the business and began replacing the existing staff with new hires who would
exceed his expectations.
As part of his strategy to build and expand new businesses,
he continued to acquire several other companies, such as "Marc
Jacobs," "Sephora," "Guerlain," and more. In 2020,
Bernard Arnault's net worth was $70 billion.
Charitable Works of Bernard Arnault
Bernard Arnault's corporation, LVMH, is actively involved in
various charitable causes, such as supporting Save the Children, the Fellowship
for Hospitals in Paris, and the Princess Grace of Monaco Foundation, as well as
funding scientific, medical research, and humanitarian organizations.
FAQs regarding Bernard Arnault Net Worth
As of 2021, Bernard Arnault's net worth is estimated to be
around $150 billion. He is the chairman and CEO of LVMH (Louis Vuitton Moet
Hennessy), the world's largest luxury goods company, and is one of the
wealthiest people in the world.
What is Bernard Arnault’s age?
Bernard Arnault was born on March 5, 1949, so as of January
27, 2023, he would be 73 years old.
What is Bernard Arnault’s Salary?
An estimated $7 billion is the annual pay for Bernard Arnault.
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