Bernard Jean Étienne Arnault professionally known as Bernard Arnault is a French business tycoon, investor, and art collector. He is the mastermind behind LVMH, the world’s leading luxury goods industry, where he holds the positions of founder, chairman, and CEO. According to Forbes, as of February 10, 2024, Arnault holds the title of the richest individual in the world, with an estimated net worth of US$225.7 billion as of March 2024.
Bernard Arnault:
| Real Name: – | Bernard Jean Étienne Arnault |
| Birth Place: – | Roubaix, France |
| Date of Birth: – | 5 March 1949 |
| Age: – | 75 years |
| Eye Color: – | Blue |
| Hair Color: – | Grey |
| Parents Name:- Father- | Jean Leon Arnault |
| Mother- | Marie Josephe Arnault |
| Siblings:- | Dominique Watine-Arnault |
| Education:- | Lycée Maxence Van Der Meersch in Roubaix and the Lycée Faidherbe in Lille. In 1971, he graduated from the École Polytechnique |
| Religion:- | Christian |
| Nationality:- | French |
| Marital Status:- | Married |
| Wife Name:- | Anne Dewavrin (m. 1973; div. 1990), Hélène Mercier (m. 1991) |
| Kids/Children Name:- | Frederic Arnaul, Jean Arnaultt, Alexandre Arnault, Antoine Arnault, Delphine Arnault |
| Profession:- | CEO, Founder of LVMH (LVMH Moët Hennessy Louis Vuitton) |
| Net Worth:- | $225.7 billion as of March 2024 |
Bernard Arnault Career:
Arnault’s reputable career began in 1971 when he joined Ferret-Savinel, ultimately growing to the location of president from 1978 to 1984. In 1984, Arnault took a life-changing opportunity that would shape his career in the global business sector. Upon learning that the French government was seeking a successor for the Boussac Saint-Frères empire, which owned Christian Dior, Arnault saw an opportunity for growth and expansion. With the guidance of Antoine Bernheim from Lazard Frères, he acquired Financière Agache, a luxury goods company, and assumed the role of its CEO and successfully won the bid for Boussac Saint-Frères, acquiring the group for a symbolic one franc.
This acquisition proved to be a strategic masterstroke by which Arnault took control of Boussac Saint-Frères’ assets, including the iconic Christian Dior brand, Le Bon Marché department store, Conforama retail shop, and Peaudouce nappy manufacturer. However, Arnault’s journey was filled with challenges. In an attempt to simplify operations and increase profitability, he took a hard decision to lay off 9,000 workers in two years, giving him the title of “The Terminator.”
Despite suffering criticism for his actions, Arnault’s strategic vision and strong leadership proved to be effective. By 1987, the company had recovered, earning $2 million on revenue of $9 billion. In 1987, Arnault started a new chapter in his career by co-founding LVMH alongside Alain Chevalier, CEO of Moët Hennessy, and Henry Racamier, president of Louis Vuitton. This partnership marked the beginning of a remarkable journey that would redefine the luxury goods industry.
Bernard Arnault Net Worth:
As of 2024 Bernard Arnault is the richest person in the world. According to the Forbes his Net Worth is $225.7 billion as of March 2024, Bernard Arnault overtook Elon Musk and become the richest person on the planet. In April 2023, for the first time Bernard Arnault’s net worth hike to $200 billion . For that reason he became only the third person in history who have a net worth north of $200 billion.
His was a great achievement for Bernard Arnault in April 1999 when he surpassed Zara’s Amancio Ortega and became the richest person in the fashion industry. This was a significant milestone in his career that confirmed his control over luxury goods business. The same year, he established Pilinvest, which is a Belgian holding company serving as the foundation of his financial empire.
Through this, Arnault controlled 81 % share of Agache (formerly Groupe Arnault).This move allowed him to achieve a controlling stake of LVMH by owning 48% interest and 63% of its voting rights. This was followed by the formation of Protectinvest in 2008; an organization that aimed at maintaining LVMH’s integrity up to 2023 and preserving Pilinvest shares while the children could not sell them until they reached the age of 25 years.
At the end of 2011, Arnault was wise enough to take a significant stake in Groupe Arnault by transferring it to Pilinvest only few months before François Hollande became France’s President. This move which was priced at €6.5 billion enhanced his hold over his financial assets and shielded them from political turbulence that could follow.
His performance also improved financially; in 2016 he was paid €7.8 million as LVMH’s CEO. In July 2019, he had a net worth of $103 billion making him the second richest man on earth. He surpassed Jeff Bezos in December 2019 and January 2020 as the world’s richest person.
Arnault’s wealth took a hit due to COVID-19 but bounced back significantly. As of August 5th, 2021, driven by luxury goods consumption in Asia, he regained his position as the richest man globally with a net worth of $198.4 billion.
By Forbes’ estimation Bernard Arnault and family would have amassed $158 billion in fortune in 2022 surpassing Bill Gates. His fortune peaked at US$240.7 billion for Bernard Arnault and his family in April 2023 which made him the current wealthiest person in the whole world displacing Elon Musk . However, Arnault’s fortunes fluctuated and by June 2023, his wealth had dwindled to $190 billion allowing Musk to take over as the richest person on earth.
According to the Forbes, Arnault is the top wealthiest person in the world as of March 2024, with a net worth of over US$225.7 billion. His financial status remains solid, with his net worth almost equal to Jeff Bezos, who is in the second place.
Bernard Arnault Family: Wife & children:
Bernard Arnault, the well-known French entrepreneur, and LVMH CEO, has a busy family life that runs parallel to his business career. He married Anne Dewavrin in 1973 and they had Delphine and Antoine as their children. However, they divorced in 1990. In 1991 Arnault wed Hélène Mercier, who is a Canadian pianist of international repute, and together have three sons; Alexandre, Frédéric and Jean. The family now lives in Paris.
Arnault’s household is heavily entangled with the corporate world he controls. Each of Bernard’s five offspring Delphine, Antoine, Alexandre, Frédéric, or Jean is found in some official capacity on one of the brands under Bernard’s control premises showing how closely knit this family is in the luxury products goods sector as reflected by global fashion industry. Arnault’s niece, Stephanie Watine Arnault is also part of the family enterprise.
One of Arnault’s sons Alexandre serves at Tiffany & Co. as the Executive Vice President while Frédéric holds the CEO position at TAG Heuer which stands for the prestigious Swiss watchmaker. Another son Jean works as Director of Watchmaking Marketing & Development Louis Vuitton being leading luxury fashion brand.
It is since 2010 a romantic relationship has been going on between Delphine, who is Arnault’s daughter, and Xavier Niel, a French billionaire also involved in telecommunications and IT. Recently, as of February 1st, 2023, she took over from her father as Dior’s CEO.
As one of the most influential families in the business and fashion world, Bernard Arnault and his family are known for their active participation in the luxury and fashion industry. Their combined efforts still serve to boost LVMH’s growth hence asserting themselves as major players in the global luxury market.
For More:- Mary Barra Net Worth 2024
FAQ:
1.What is Bernard Arnault’s net worth?
Ans:-As of February 2024, Bernard Arnault’s net worth is approximately $225.7 billion as of March 2024, which makes him one of the richest persons worldwide.
2.What does Bernard Arnault do?
Ans:-Bernard Arnault is a French business man, investor, and art collector. He is the founder, chairman and CEO of LVMH (Moët Hennessy Louis Vuitton), the world’s largest luxury goods company.
3.How did Bernard Arnault become rich?
Ans:-Bernard Arnault became fabulously wealthy because he controls LVMH, the biggest luxury brands company in the world. He developed LVMH through smart acquisitions and good management that looked after famous names such as Louis Vuitton, Christian Dior and Moët & Chandon.
4.What companies does Bernard Arnault own?
Ans:-LVMH managed by Bernard Arnault boasts numerous luxury brands. Some of these include Givenchy, Fendi, Sephora among others under its umbrella as well as Louis Vuitton and Christian Dior.
5.How many children does Bernard Arnault have?
Ans:-Bernard Arnault has five children; two with his first wife Anne Dewavrin (Delphine and Antoine) and three sons with his second wife Hélène Mercier (Alexandre, Frédéric and Jean).
6.Who is Bernard Arnault’s wife?
Ans:-He married to Hélène Mercier who is a Canadian concert pianist having three sons with her named Alexandre, Frédéric and Jean.
7.What is Bernard Arnault’s role at LVMH?
Ans:-Bernard Arnault is the founder, chairman, and CEO of LVMH, overseeing the company’s overall strategy and operations, and playing a key role in its growth and success in the luxury goods market.
8.Where does Bernard Arnault live?
Ans:-Bernard Arnault and his family reside in Paris, France.