Bernard Arnault Net Worth 2023: He is the richest businessman with a net worth of US$182.8. This blog about his net worth, biography, age, height, family, wife, and career earning.
|Net Worth:||$182.8 Billion|
|Date of Birth:||Mar 5, 1949 (73 years old)|
|Place of Birth:||Roubaix|
|Profession:||Businessperson, Business magnate|
Bernard Arnault Net Worth
French billionaire Bernard Arnault is the chairman and CEO of LVMH. Bernard Arnault’s net worth is $182.8 billion. Bernard’s net worth has made him one of the world’s richest people, alongside Elon Musk, Jeff Bezos, and Bill Gates. Bernard Arnault became the planet’s richest person on December 13, 2022.
Bernard Arnault Finances
LVMH CEO Bernard Arnault made a fortune. Arnault bailed out Christian Dior in the 1980s. He utilized Dior’s profits and improved valuation to create a conglomerate of luxury brands, including Louis Vuitton, Moet, Hennessy (thus “LVMH”), Marc Jacobs, Givenchy, Tag Heuer, Bulgari, and Tiffany & Co. LVMH has 60 brands and generates $70 billion annually. LVMH has a $384 billion market worth.
The Arnault family owns 97% of Dior, and Dior owns 41% of LVMH. Family owns 7% of LVMH directly. They have almost 50% of votes.
Outside of LVMH, Bernard owns two vineyards in France, Princess Yachts, 5% of Carrefour, France’s largest supermarket chain, and a multi-billion-dollar art collection.
His net worth surpassed $100 billion in June 2019. At the time, he was third richest on planet. In July 2019, his net worth reached $108 billion, making him the second-richest person on the planet. He became the richest person on the planet in December 2022 when his $171 billion net worth exceeded Elon Musk’s $168 billion net worth.
Bernard Arnault early life
Born in Roubaix, France, on March 5, 1949. His father, Jean Léon Arnault, was a Parisian industrialist. Marie-Josèphe Savinel was his mother. Her company, Étienne Savinel, controlled Ferret-Savinel. In 1950, Savinel entrusted control of Ferret-Savinel to his son-in-law Jean Léon Arnault (Bernard’s father) and later gave him ownership of the company. Bernard graduated from École Polytechnique in 1971.
Bernard Arnault Family Business
In 1971, Arnault began working at his father’s company, Ferret-Savinel (which was previously owned by his maternal grandfather). He became the company’s president in 1978 and continued in that role until 1984. During his time at Ferret-Savinel, he helped shift the company away from construction and toward real estate.
Bernard Arnault Luxury goods
Bernheim helped Bernard buy Financiere Agache in 1984. He became CEO of Financiere Agache and rescued the textile company Boussac Saint-Freres from bankruptcy. Boussac owned various brands and stores, including luxury brand Christian Dior and department store Le Bon Marche. Except for Dior and Le Bon Marche, Arnault sold all Boussac assets.
His family owns 97% of Dior.
Bernard Arnault LVMH
Bernard shopped for luxury brands with Dior’s profits. Bernard created LVMH in 1987 to own Louis Vuitton and Mot Henessy. In July 1988, he donated $1.5 billion and formed a holding company with Guinness to obtain 24% of LVMH’s shares. Arnault invested $600 million to buy 13.5% of LVMH shares to prevent the Louis Vuitton company from forming a “blocking minority.” He became LVMH’s biggest shareholder. He paid $500 million extra in January 1989 to buy more shares. He controlled 43.5% of LVMH’s shares and 35% of its voting rights. Using his power, he halted the dismantling of the LVMH group and has since guided the conglomerate through a restructuring that has positioned it as one of the largest luxury groups in the world.
LVMH grew under Arnault. In 11 years, sales, profit, and market value all multiplied by 5. Although the conglomerate has a vast number of brands (75 total as of June 2020), Arnault has continued to support decentralizing the brands, which helps them be recognized as autonomous brands and firms with their own histories and stories. Other LVMH brands include Céline (bought in 1988), Berluti (1993), Kenzo (1993), Guerlain (1994), Loewe (1996), Marc Jacobs (1997), Sephora (1997), Thomas Pink (1999), Emilio Pucci (2000), and Fendi (in 2001).
Bernard Arnault Others investments
Arnault has many interests besides LVMH. Through Europatweb, he invested in Boo.com, Libertysurg, and Zebank between 1998 and 2001. Invested in Netflix in 1999 through Groupe Arnault. Arnault owns 10.69% of Carrefour with Colony Capital. Carrefour is France’s largest supermarket and second-largest food distributor. He also owns yachts. He bought Princess Yachts for €253 million in 2008. Then he bought Royal van Lent for almost as much.
Bernard Arnault Art Collections
Arnault is also an avid art collector. Arnault has funded shows in France starring Pablo Picasso and Andy Warhol.
Bernard Arnault Personal Life
1973-90: Arnault married Anne Dewavrin. Two children are theirs. The couple married in 1990. Three children. Arnault and his family committed €200 million to assist repair and restore Notre-Dame Cathedral in Paris in 2019.