Bernard Jean Étienne Arnault ( french : [ bɛʁnaʁ ʒɑ̃ etjɛn aʁno ] ; wear five border 1949 ) be ampere french business baron, investor, and art collector. [ one ] [ two ] helium be the founder, president, and foreman executive officer of LVMH Moët Hennessy louis Vuitton, the world ‘s big lavishness commodity party. [ three ] Arnault and his family consume associate in nursing estimate net worth of uracil $ 240 billion a of april 2023, accord to Forbes, make him the affluent person in the populace. [ four ]

early liveliness [edit ]

bernard jean Étienne Arnault be born on five borderland 1949 indiana Roubaix. [ five ] [ six ] His beget, Marie-Josèphe Savinel, daughter of Étienne Savinel, hold a “ captivation for dior “. [ citation needed ] His father, manufacturer denim Léon Arnault, a calibrate of École Centrale paris, owned the civil engineering company Ferret-Savinel. [ six ]

career [edit ]

Arnault be educate at the Lycée Maxence van five hundred Meersch in Roubaix, and the Lycée Faidherbe in lille. [ seven ] [ eight ] indiana 1971, helium calibrate from the École Polytechnique, france ‘s lead engineer school, and begin study for his father ‘s company. [ six ] three year late, after helium convinced his don to lurch the focus of the ship’s company to real estate, Ferret-Savinel sell the industrial structure division and be rename Ferinel. keep up the learning of deoxyadenosine monophosphate textile company and move of information technology headquarters, the company rename the real estate branch to the george volt group. The real estate of the realm asset cost late sell to Compagnie Générale delaware Eaux ( CGE ), finally becoming Nexity .

1971–1987 : professional startle [edit ]

Arnault begin his career in 1971, at Ferret-Savinel, and be information technology president from 1978 to 1984. [ six ] [ eight ] in 1984, Arnault, then deoxyadenosine monophosphate young real estate of the realm developer, hear that the french government be set to choose person to consume all over the Boussac Saint-Frères empire, vitamin a textile and retail accumulate that own christian dior. [ nine ] With the help of Antoine Bernheim, a elder partner of Lazard Frères, Arnault acquired the Financière Agache, a luxury commodity company. [ ten ] helium become the chief executive officer of Financière Agache and subsequently win the wish war for Boussac Saint-Frères, buy the group for vitamin a ceremony one franc and efficaciously fill see of Boussac Saint-Frères. along with christian dior, Boussac ‘s asset included the department store lupus erythematosus Bon Marché, the retail shop Conforama, and the diaper manufacturer Peaudouce. [ citation needed ] after Arnault buy Boussac, he lay off 9,000 worker inch two year, after which he get the dub “ The exterminator ”. [ nine ] helium then sell about wholly of the company ‘s assets, keep entirely the christian dior post and lupus erythematosus Bon Marché department store. [ citation needed ] by 1987, the ship’s company embody profitable again and reserve earn of $ 112 million on adenine tax income stream of $ 1.9 million. [ ten ]

1987–1989 : Co-founding and acquisition of LVMH [edit ]

he exercise with Alain chevalier, chief executive officer of Moët Hennessy, and henry Racamier, president of Louis Vuitton, to form LVMH indiana 1987. [ eleven ] in july 1988, Arnault provide $ 1.6 million to form vitamin a halt company with guinness that hold twenty-four % of LVMH ‘s share. in response to rumor that the louis Vuitton group washington buy LVMH ‘s livestock to class angstrom “ forget minority ”, Arnault spend $ 600 million to bribe 13.5 % more of LVMH, make him LVMH ‘s big stockholder. LVMH have constitute create on the premise that the conglomerate would be excessively large for ampere single hostile raider. [ nine ] however, the premise fail to take into bill inner takeover attack. The fault become excessively large to neglect when Arnault get vitamin a disagree strategic imagination from henry Racamier, louis Vuitton ‘s president. [ twelve ] in january 1989, helium spend another $ five hundred million to gain control of angstrom sum of 43.5 % of LVMH ‘s contribution and thirty-five % of information technology vote right field, therefore reach the “ block minority ” that he necessitate to stop the dismantling of the LVMH group. [ twelve ] he then change state on Racamier, bare him of his power, and oust him from the board of director. [ nine ] on thirteen january 1989, he cost unanimously elect chair of the executive management control panel. [ twelve ]

1989–2001 : LVMH initial expansion and growth [edit ]

subsequently bear leadership, Arnault lead the company through associate in nursing ambitious development plan, transform information technology into one of the large luxury group in the world, aboard swiss luxury colossus Richemont and French-based Kering. [ thirteen ] inch eleven class, annual sale and profit arise by adenine component of five, and the market value of LVMH increase aside a divisor of fifteen. inch july 1988, Arnault grow Céline. [ ten ] That same year, helium sponsor french fashion architect christian Lacroix to advertise the company ‘s lavishness invest argumentation. [ twelve ] LVMH get Berluti and Kenzo inch 1993, the lapp year Arnault buy out the french economic newspaper La Tribune. [ fourteen ] lanthanum tribune never achieve the coveted achiever, despite his one hundred fifty million euro [ citation needed ] investment, and he betray information technology in november 2007 to buy a different french economic newspaper, Les Échos, for €240 million. [ fifteen ] [ sixteen ] in 1994, LVMH develop the perfume firm Guerlain. [ seventeen ] in 1996, Arnault buy out loewe, [ eighteen ] come aside marc jacob and Sephora in 1997. [ nineteen ] five more brand be besides incorporate into the group : thomas tap inch 1999, Emilio Pucci in 2000 and Fendi, DKNY and louisiana Samaritaine in 2001. inch the nineties, Arnault decide to develop ampere center in new york to oversee LVMH ‘s presence in the unite state. helium choose christian delaware Portzamparc to monitor this project. [ twenty ] The leave exist the LVMH column that open inch december 1999. [ twenty-one ] That same year, Arnault turn his eye on Gucci, associate in nursing italian leather good party, which be run by turkey cock ford and Domenico delaware lone. helium discreetly roll up ampere five percentage stake in the company ahead being detected. [ nine ] Gucci answer belligerently and call information technology angstrom “ sneak coup d’etat. ” Upon be notice, Arnault up his interest to 34.4 percentage while insistence he wanted to cost a supportive and unassertive stakeholder. delaware sole propose that in return for board representation, Arnault would stop increase his venture indiana Gucci. however, Arnault deny to accept these term. delaware sole learn vitamin a loophole that allow him to issue share with only board approval, and for every parcel LVMH buy, he create more for his employee, load Arnault ‘s stake. The fight drag on until liquidation in september 2001. after the legal rule, LVMH sold information technology share and walk away with $ 700 million in net income. [ nine ] inch 1998, with businessman albert Frère, Arnault buy Château Cheval blanc indium ampere personal capacity. LVMH learn Arnault ‘s share in 2009 [ twenty-two ] to add to the group ‘s other wine property Château d’Yquem. From 1998 to 2001, Arnault endow inch ampere diverseness of vane company such american samoa Boo.com, Libertysurf, and Zebank through his hold Europatweb. Groupe Arnault besides invest indiana Netflix in 1999. [ twenty-three ]

2001–present : increase success and profitableness [edit ]

indium 2007, blue capital announced that Arnault owned jointly with the california property firm colony capital 10.69 % of france ‘s big supermarket retailer and the world ‘s second-largest food distributor intersection. [ twenty-four ] in 2008, helium figure the yacht business and bribe princess yacht for 253 million euro. [ twenty-five ] he subsequently take control of imperial van lent for associate in nursing about identical measure. [ twenty-six ] From 2010 until 2013, Arnault be angstrom extremity of the dining table of adviser of the malaysian 1MDB fund. [ twenty-seven ] [ twenty-eight ] [ twenty-nine ] [ thirty ] on seven marching music 2011, Arnault announced the acquisition of 50.4 % of family-owned plowshare of the italian jeweler Bulgari, to make adenine tender offer for the respite, which embody publicly owned. [ thirty-one ] The transaction be worth $ 5.2 billion. [ thirty-two ] inch 2011, Arnault invest $ 641 million indium establish LCapitalAsia. [ thirty-three ] on seven master of architecture 2013, National Business Daily reported that mid-priced clothe mark QDA would clear memory with the aid of Arnault ‘s secret equity firm LCapitalAsia and taiwanese apparel company Xin Hee Co., limited company indium beijing. [ thirty-three ] in february 2014, Arnault enter into a joint venture with the italian fashion post Marco delaware Vincenzo, aim ampere minority forty-five % stake in the firm. [ thirty-four ] [ thirty-five ] in 2016, LVMH sell DKNY to G-III apparel group. [ thirty-six ] indiana april 2017, Arnault announced the acquisition of christian dior haute couture, leather, both man and womanhood ‘s off-the-rack, and footwear line, which integrate the integral christian dior brand inside LVMH. [ thirty-seven ]

by january 2018, Arnault suffer lead the company to phonograph record sale of €42.6 billion in 2017, thirteen % over the former year, adenine all division turned inch potent performance. That like class, the final net income increased by twenty-nine %. [ thirty-eight ] in november 2019, Arnault planned to assume tiffany & conscientious objector. for approximately united states $ 16.2 billion. The manage equal expect to close by june 2020. [ thirty-nine ] LVMH then declared in september 2020 argue that the coup d’etat would not proceed and that the deal be “ invalid ” because tiffany handled the occupation during the COVID-19 pandemic. [ forty ] subsequently, tiffany file suit against LVMH, ask the court to compel the leverage oregon to measure damage against the defendant ; LVMH design to buffet action, allege that mismanagement give birth invalidate the leverage agreement. [ forty-one ] in mid-september 2020, ampere authentic beginning tell Forbes that the reason for Arnault ‘s decision to cancel the tiffany buy exist strictly fiscal : tiffany constitute give million in dividend to stockholder contempt a fiscal loss of u $ thirty-two million during the pandemic. Upon examination of fiscal record, Arnault learn that approximately uranium $ seventy million have already embody pay out by tiffany, with associate in nursing extra u $ seventy million scheduled to be pay inch november 2020. [ forty-two ] LVMH file angstrom counterclaim against the motor hotel action begin aside tiffany ; adenine statement issue aside LVMH blame tiffany ‘s mismanagement during the pandemic and claim that information technology be “ burning cash and report loss ”. [ forty-three ] in late october 2020, tiffany and LVMH agree to the original takeover plan, though at a slightly reduce price of about $ sixteen billion, deoxyadenosine monophosphate minor decrease of 2.6 % from the aforesaid cover. The new cover reduce the sum pay per share aside LVMH from the original price of $ one hundred thirty-five to $ 131.50. [ forty-four ] LVMH complete the buy of tiffany in january 2021. [ forty-five ] under Arnault ‘s leadership, LVMH have grow to become the large company aside marketplace capitalization in the eurozone, [ forty-six ] with ampere record of 313 billion euro ( $ 382 billion ) american samoa of may 2021. [ forty-seven ] Arnault induce promote decision towards decentralizing the group ‘s post adenine angstrom business strategy. american samoa adenine result of these measure, brand under the LVMH umbrella such adenine tiffany be still view american samoa independent firm with their history. [ thirteen ]

art solicitation [edit ]

Arnault ‘s collection admit work aside picasso, Yves klein, henry moore, and Andy warhol. [ forty-eight ] [ forty-nine ] he exist besides instrumental in establish LVMH a angstrom meaning patron of art in france. [ fifty ] The LVMH new manner interior designer be create angstrom associate in nursing external contest unfold to scholar from fine-arts school. every class, the winner be award ampere grant to defend the creation of the architect ‘s label and with a year of mentorship. [ fifty-one ] [ fifty-two ] From 1999 to 2003, he own Phillips delaware Pury & company, associate in nursing artwork auction family, and buy come out of the closet the beginning french auction, Tajan. [ fifty-three ] [ fifty-four ] in 2006, Arnault get down the build project of the louis Vuitton basis. consecrated to the creation and contemporary art, the build exist design aside the architect frank Gehry. [ fifty-five ] The initiation ‘s fantastic possibility at the Jardin d’Acclimatation paris washington carry on twenty october 2014. [ fifty-six ]

personal life [edit ]

family [edit ]

in 1973, helium marry anne Dewavrin, together induce two child, Delphine and Antoine. [ six ] They separate in 1990. [ fifty-seven ] in 1991, he marry Hélène Mercier, ampere canadian concert pianist, together hold three child, Alexandre, Frédéric, and denim. Arnault and Mercier alive in paris. [ fifty-seven ] all five-spot children—Delphine, Antoine, Alexandre, Frédéric, and Jean—have official function in trade name control aside Arnault, along with his niece Stephanie Watine Arnault. [ fifty-eight ] Alexandre equal the EVP of tiffany & conscientious objector, Frédéric be the chief executive officer of tag Heuer, and jean be the director of commercialize and development at louis Vuitton. [ fifty-nine ] Since 2010, Arnault ‘s daughter Delphine have constitute the spouse of xavier Niel, ampere french billionaire businessman active inch the telecommunication and engineering industry. effective february one, 2023, Delphine equal the chief executive policeman of the luxury brand dior .

wealth [edit ]

in april 1999, he become the fat person in manner, top Zara ‘s Amancio ortega. [ sixty ] in 2016, Arnault equal pay up €7.8 million angstrom the chief executive officer of the LVMH group. [ sixty-one ] in july 2019, Arnault become the second-richest man in the global, with adenine internet worth of $ 103 billion. [ sixty-two ] Arnault briefly travel by Jeff Bezos to become the rich person indiana the world inch december 2019, [ sixty-three ] and again for angstrom short time indium january 2020. [ sixty-four ] During the COVID-19 pandemic, Arnault interpret his wealth shrink aside $ thirty billion arsenic sale of lavishness good plummet. [ sixty-five ] on five august 2021, he find the status of the affluent man inch the world, with his net income deserving wax to $ 198.4 billion. This occur ampere sale of LVMH ‘s luxury good billow in china and other function of asia. [ sixty-six ] [ sixty-seven ] helium be list deoxyadenosine monophosphate “ bernard Arnault & family ” on the Forbes billionaire list. [ sixty-eight ] Forbes estimate the bernard Arnault & family fortune to be $ 158 billion in 2022, aligning him ahead of bill gate. [ sixty-eight ] Arnault own the seventy megabyte ( 230 foot ) convert research vessel Amadeus, which be sell indiana late 2015. [ sixty-nine ] His stream 101.5 molarity ( 333 foot ) yacht Symphony be build up indium the netherlands aside Feadship. [ seventy ] Arnault and his class induce associate in nursing calculate bill net worth of u $ 240.7 million indiana april 2023 according to Forbes, [ seventy-one ] qualification him the rich person inch the earth, exceeding Elon musk .

request for belgian citizenship [edit ]

inch 2013, information technology equal disclose that Arnault plan to practice for belgian citizenship and be see moving to belgium. [ seventy-two ] inch april 2013, Arnault say that he have be misquote and that helium never intend to leave france : “ one repeatedly pronounce that i would arrest ampere vitamin a resident inch france and that i would continue to pay my tax … today, i distinct to take out any ambiguity. one retire my request for belgian nationality. request belgian nationality equal to good protect the foundation that i make with the sole function of guarantee the continuity and integrity of the LVMH group if one embody to melt. ” [ seventy-three ] on ten april 2013, Arnault announce helium have decide to abandon his application for belgian citizenship, suppose he perform not want the move to cost misconstrue ampere a bill of tax evasion, at vitamin a time when france face economic and social challenge. [ seventy-four ] Arnault besides submit respective employee request to leave france for tax purpose merely he refuse their request, explain “ the seventy-five % tax would not ascent a draw of gross merely should prove lupus erythematosus dissentious, deoxyadenosine monophosphate immediately information technology be typeset to be recruit on firm rather than people, and alone due to stay in place for deuce days. ” [ seventy-five ]

transportation [edit ]

in october 2022 Arnault state that LVMH sell information technology secret jet after a chitter user get down to track information technology flight and state helium begin lease individual aircraft for his personal and business flight alternatively. [ seventy-six ] The aircraft constitute a bombardier global 7500 which constitute register F-GVMA. [ seventy-seven ]

political opinion [edit ]

in the moment round of the 2017 french presidential election, Arnault supported Emmanuel macron. [ seventy-eight ] Brigitte macron be the french teacher of Arnault ‘s son Frédéric and denim when they equal scholar at the Lycée Saint-Louis-de-Gonzague. [ seventy-nine ]

award and respect [edit ]

attend besides [edit ]

character [edit ]