BERNARD ARNAULT – Biography Age Family Net-worth & Businesses
BERNARD ARNAULT – Biography Age Family Net-worth & Businesses
WHO IS BERNARD ARNAULT?
He is the 3rd on the FORBES List, a French business mogul and investor Bernard Arnault is now France’s richest man and one of the world’s richest people. Since 1989, he has been Chairman and CEO of LVMH Mot Hennessy Louis Vuitton Company and is the company’s largest stakeholder.
BIOGRAPHY
Jean Leon Arnault’s son Bernard Jean Étienne was born on March 5, 1949 in Roubaix, France. Ferret-Savinel was the civil engineering firm owned by his father.
In Roubaix, he graduated from Maxence Van Der Meersch High School. In 1971, he graduated from the elite École Polytechnique with a degree in engineering after completing his education.
After high school, he attended the famous Ecole Polytechnique, where he earned a degree in mechanical engineering with a concentration in aerospace engineering. He joined his father’s civil engineering business as an engineer after graduating and began preparing for the company’s expansion and growth.
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He was able to persuade his father to shift the company’s attention to the burgeoning real estate market, and he has had great success there.
BERNARD ARNAULT – Biography, Age, Family, Net-worth & Businesses
At some point in his career, he began purchasing other businesses and finally came to possess both Christian Dior and the Le Bon Marché department store chain. He became LVMH’s first stakeholder after a merger between two companies, investing millions of dollars in LVMH’s stock.
Finally, he was elected chairman of the executive management board, where he supervised the company’s massive expansion and made it one of the world’s most prestigious luxury brands.
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BERNARD ARNAULT – Biography, Age, Family, Net-worth & Businesses
WIKI – BIODATA
| Real Name | Bernard Jean Étienne Arnault |
| Profession | Co-founder & CEO of LVMH Moet Hennessy |
| Famous For | LVMH Moet Hennessy |
| Physical Status | |
| Age | 73 Years |
| Height |
|
| Weight |
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| Eye Colour | Blue |
| Hair Colour | Grey |
| Personal Information | |
| Date of Birth | March 5, 1949 |
| Religion | Christianity |
| Birth Place | Roubaix, France |
| Zodiac sign | Pisces |
| Nationality | French |
| School Name | Maxence Van Der Meersch High School. |
| College Name | École Polytechnique |
| Qualifications | Electrical Engineering and Computer Science B.Sc |
| Family Profile | |
| Father Name | Jean Arnault |
| Mother Name | Mother: Marie-Josephe Savinel |
| Siblings | |
| Children | Alexandre Arnault, Antoine Arnault, Delphine Arnault, Frederic Arnault, Jean Arnault |
| Relationships/Affairs |
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| Career | |
| Source Of Income | LVMH Moet Hennessy Louis Vuitton |
| Appeared In | Grand Officer of the French Legion of Honour |
| Net Worth, Salary | $167.5 Billion |
| Hobbies | Art |
FAMILY, MARRIAGE AND PERSONAL LIFE
CAREER
After college, he went to work for his father’s business. His father agreed to liquidate the building division of the company in 1976 and invest the earnings in a more lucrative business, which he began preparing for.
The Arnaults gained 40 million French francs from the bankruptcy of the construction section, which they spent in real estate, which was a thriving industry at the time.. The company, now known as Ferinel, has grown to be a huge success, with a focus on vacation rentals.
The year was 1974, and Bernard Arnault was promoted to the position of CEO. In 1979, he took over from his father as CEO of the corporation.
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He and his family were forced to flee France in 1981 when the French Socialists took control. As a savvy businessman, he made a fortune in Palm Beach, Florida, constructing condominiums.
A branch of his family’s property firm was eventually established in the United States. In 1983, the political landscape in his native France shifted. Arnault opted to return to his native France after the French Socialists changed their economic course to one that was more conservative.
BERNARD ARNAULT – Biography Age Family Net-worth & Businesses
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When the textile company Boussac Saint-Frères went bankrupt, the businessman recognized a golden opportunity. The Christian Dior couture house was one of many enterprises under the textile empire. Lazard Fréres’s managing partner Antoine Bernheim helped Arnault secure funding for the purchase of Boussac from Arnault.
With the help of Bernheim, Arnault was able to raise the rumoured acquisition price of Boussac Saint-Frères from $80 million to $15 million. Christian Dior and Le Bon Marché department stores were all that Arnault retained after this transaction, which resulted in the sale of most of the company’s other assets. In 1985, he was named CEO of Dior
BERNARD ARNAULT – Biography, Age, Family, Net-worth & Businesses
Arnault profited $400 million after selling off the majority of Boussac’s assets. He accepted Henri Racamier’s invitation to invest in LVMH in 1987. A joint venture between Arnault and Guinness PLC, which held 24% of LVMH’s stock, was chosen for the investment. He continued to invest in the company for the next few years, spending hundreds of millions of dollars in the process.
As of January 1989, Arnault owned 43.5% of the company’s stock, with 35% of the voting rights. As a result, he was duly elected chairman of the board of directors by a voice vote.
A number of the company’s top executives were ousted and fresh hires were brought in to help the company get back on track once he took charge. He had a reputation for being a harsh taskmaster who rapidly sacked staff who didn’t meet his standards.
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Guerlain (1994), Loewe (1996), Marc Jacobs (1997), Sephora (1997), and Thomas Pink (1998) were among of the brands he purchased in the 1990s as part of an ambitious growth and expansion plan (1999).
BERNARD ARNAULT INVESTMENTS & BUSINESSES TILL DATE
He took over Ferret-Savinel, his father’s construction company, in 1971. The company was renamed Férinel Inc. eight years later, and its focus switched to real estate.
In order to buy Christian Dior’s bankrupt textile company Boussac Saint-Frères for $80 million, Arnault and Antoine Bernheim, a managing partner of the French bank Lazard Frères and Co., raised $15 million of their own money. When Henri Racamier, the chairman of LVMH, invited Arnault to invest in the company in 1987, he accepted. In 1990, Arnault ousted Racamier and began acquiring a host of fashion and leather goods companies, including Christian Lacroix, Givenchy, and Kenzo; Loewe, Céline, and Berluti; Fred Joailler, a jeweller; the DFS group (the world’s largest duty-free chain); and Sephora, a beauty retailer.
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By choosing British fashion designer John Galliano to succeed Hubert de Givenchy in 1995, Arnault became a household name in Europe for his role in reviving French couture. Arnault, called the “Pope of Fashion” by Women’s Wear Daily, replaced Galliano at Givenchy with Alexander McQueen a year later, moving Galliano to Christian Dior. LVMH also bought a majority stake in Marc Jacobs’s namesake line the year after Arnault engaged the young American designer as creative director of Louis Vuitton, a maker of premium leather goods. Arnault’s fashion foresight had resurrected interest in these historic fashion firms by the early 21st century, despite the fact that all three designers subsequently left their jobs.
BERNARD ARNAULT – Biography Age Family Net-worth & Businesses
Throughout his career, Arnault has continued to amass luxury businesses, including the Italian fashion house Fendi (2003), the venerable French department store La Samaritaine (2010), the Italian jewellery company Bulgari (2011), and the famous American jeweller Tiffany & Co. (2021). The Foundation Louis Vuitton (2014), a contemporary art museum in the Bois de Boulogne, Paris, designed by Canadian American architect Frank Gehry, is another project he has undertaken. Arnault was awarded France’s highest honor, the Legion of Honor, in 2007.
NET WORTH
Bernard Arnault, one of the world’s wealthiest men, is contending with Elon Musk, Bill Gates, and Jeff Bezos for a spot on Forbes’ top five richest list with a projected $168 billion fortune.
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