What is Bernard Arnault Net Worth
Bernard Arnault Net Worth is US$ 162 Billion as of 2022.
|Net Worth||US$ 162 Billion|
|Born:||March 5, 1949 (74 Years)|
|Full Name||Bernard Jean Étienne Arnault|
|Country of Origin||France|
|Source of Wealth||Entrepreneur|
|Spouse (s)||Anne Dewavrin (m. 1973; div. 1990), Hélène Mercier (m. 1991)|
|Children||Delphine, Antoine, Alexandre, Frédéric and Jean|
|Last Updated||Co-founder, chairman, and CEO of LVMH Moët Hennessy – Louis Vuitton SE|
Table of Contents
The most well-known position that French billionaire Bernard Arnault holds is that of chairman & CEO of LVMH Mot Hennessy Louis Vuitton SA, the largest luxury merchandises company in the world. Arnault was born in Roubaix on March 5, 1949. He owns nearly 50 percent of LVMH, which generated revenue of $64.2 billion in 2021. It offers items including TAG Heuer watches, Dom Perignon wine, and Louis Vuitton leather goods. Bernard has been among the world’s richest persons for the majority of his adult life, ranking among Elon Musk, Jeff Bezos, and Bill Gates. On December 13, 2022, Bernard Arnault passed Elon Musk to take the title of world’s richest person.
- Arnault graduated from the École Polytechnique in Palaiseau, with a M.Sc, degree in 1971.
- After graduation in 1971, Arnault joined his father’s company (Ferret-Savinel).
Arnault married Anne Dewavrin in 1973.
Using the name Férinel, the new company developed a specialty in holiday accommodation. Arnault Named the Director of Company Development in 1974.
In 1976, Arnault convinced his father to liquidate the construction division of the company for 40 million French francs and to change the focus of the company to real estate.
Arnault became the CEO of Férinel in 1977.
In 1979, Arnault succeeded his father as president of the company.
- In 1984, with the help of Antoine Bernheim, a senior partner of Lazard Frères, Arnault acquired the Financière Agache, a luxury goods company.
- Arnault became the CEO of Financière Agache and subsequently took control of Boussac Saint-Frères, a textile company in turmoil.
- Boussac owned Christian Dior, the department store Le Bon Marché, the retail shop Conforama, and the diapers manufacturer Peaudouce. Arnault sold nearly all the company’s assets, keeping only the prestigious Christian Dior brand and Le Bon Marché department store.
In 1987, shortly after the creation of LVMH, the brand new luxury group resulting from the merger between two companies, Arnault mediated a conflict between Alain Chevalier, Moët Hennessy’s CEO, and Henri Racamier, president of Louis Vuitton.
In July 1988, Arnault acquired Céline.
On 13 January 1989, he was unanimously elected chairman of the executive management board of LVMH.
Arnault divorced Anne Dewavrin in 1990.
In September 23, 1991, Arnault married Hélène Mercier.
In 1993, Arnault bought out the French economic newspaper La Tribune.
In 1996, Arnault bought out Loewe.
Groupe Arnault invested in Netflix in 1999.
Arnault sold La Tribune in November 2007 in order to buy a different French economic newspaper, Les Échos, for 240 million euros.
In 2008, Arnault entered the yacht business and bought Princess Yachts for 253 million euros.
Arnault intended to buy Tiffany & Co. in November 2019 for roughly $16.2 billion in US dollars. By June 2020, the deal was supposed to be finalised. Then, in September 2020, LVMH released a statement saying that the acquisition would not go through and that the agreement was “void” due to Tiffany’s management of the company during the COVID-19 outbreak.
Under Arnault’s leadership, LVMH has grown to become the largest company by market capitalization in the Eurozone, with a record of 313 billion euros ($382 billion) as of May 2021.
Bernard Jean Étienne Arnault was born in Roubaix, France, on March 5, 1949. The father of Bernard was the manufacturer and École Centrale Paris alum Jean Léon Arnault. His mother, Marie-Josèphe Savinel, is descended from Étienne Savinel, owner of the civil engineering company Ferret-Savinel. Jean Léon Arnault, Bernard’s father, was given control of Ferret-Savinel by Savinel in 1950, and he eventually became the sole owner of the company. Bernard graduated from the École Polytechnique, France’s top engineering school, in 1971.
After graduating from college, Bernard joined his father’s business and made plans for it to diversify and get engaged in other, more lucrative enterprises. His first business move was to persuade his father to dissolve the construction section so he could profit from it. After the construction company was shut down, the family started making successful real estate investments.
Bernard was quickly moving up the business ladder; he succeeded his father in holding the positions of director of development in 1974, CEO in 1977, and president in 1979. The French Socialists forcibly moved the family to America in 1981, but even there they succeeded by extending their real estate to the US.
When the company Boussac Saint-Frères filed for bankruptcy in 1983, Arnault saw a perfect chance to grow into the textile sector. In order to finance his purchase of Boussac, he negotiated with Antoine Bernheim, a managing partner at the investment company Lazard Fréres.
After acquiring the business, Arnault sold the majority of the shares, keeping only the Christian Dior name and the Le Bon Marché department store. He became the CEO of Dior by 1985. When Arnault was given the opportunity to participate in the LVMH business in 1987, he ultimately decided to do so in a combined stake with Guinness PLC.
He would continue to invest and increase his ownership of the business over the following few years. He started quickly replacing the old average staff with new ones that would exceed his objectives once he controlled 43.5% of the company’s shares by 1989.
Beyond LVMH, Arnault has his claws in a number of other pies. Between 1998 and 2001, he invested in several web companies through his holding company Europatweb, including Boo.com, Libertysurg, and Zebank. Through his investing firm, Groupe Arnault, he invested in Netflix in 1999. In 2007, it was discovered that Arnault and the California-based real estate firm Colony Capital jointly owned 10.69% of Carrefour. The largest supermarket in France and the second-largest food wholesaler in the world are both called Carrefour. Additionally, he has an interest in the boating sector. In 2008, he contributed €253 million to Princess Yachts. He then acquired ownership of Royal van Lent for nearly the same amount.
Bernard Arnault Net Worth Growth
French millionaire Bernard Arnault made his fortune as the chairman and CEO of LVMH, the biggest luxury goods company in the world. Bernard Arnault’s net worth is $162 billion as of this writing. He became the richest man in France and one of the richest people in the world because he is the main stakeholder in the fashion company. Moreover, he is a partner in Fenway Sports Group which made him a shareholder in Boston Red Sox, New England Sports Network, RFK Racing, and Liverpool F.C.
|Net Worth in 2022||US$ 162 Billion|
|Net Worth in 2021||US$ 150 Billion|
|Net Worth in 2020||US$ 76 Billion|
|Net Worth in 2019||US$ 76 Billion|
|Net Worth in 2018||US$ 72 Billion|
Awards won by Bernard Arnault are:
- Became CEO of Ferinel (1977)
- Invested $15 million in the purchase of Boussac Saint-Frères
- Became CEO of Dior (1985)
- Held 43.5% of shared in LVMH (Louis Vitton Moet Hennessey, 1989)
Favorite Quotes from Bernard Arnault
“I think in business, you have to learn to be patient. Maybe I’m not very patient myself. But I think that I’ve learned the most is be able to wait for something and get it when it’s the right time.”– Bernard Arnault
“I like that combination between creativity and the creative process and the organization needed to make a business like this successful worldwide.”– Bernard Arnault
“If you deeply appreciate and love what creative people do and how they think, which is usually in unpredictable and irrational ways, then you can start to understand them. And finally, you can see inside their minds and DNA.”– Bernard Arnault
“It is not enough to have a talented designer; the management must be inspired too. The creative process is very disorganized; the production process has to be very rational.”– Bernard Arnault
“A good product can last forever.”– Bernard Arnault
“In the luxury business, you have to build on heritage.”– Bernard Arnault
“Affordable luxury – these are two words that don’t go together.”– Bernard Arnault
“What we do in our group is the opposite of the bad effects of globalization. We produce in Italy and in France and we sell to China when usually it’s the opposite.”– Bernard Arnault
“I meet the designers very often, we discuss the products, they show me their ideas, we discuss the ad campaigns and every new invention that we can find for the future.”– Bernard Arnault
“I’ve always been pleased with the investments I’ve made with my friend Albert Frere and I regret not having followed him more, because I would have been a lot richer.”– Bernard Arnault
Keys Life Lessons from Bernard Arnault
We now know everything about Bernard Arnault and his net worth. Let’s look at some of his lessons.
1. Be patient
All things come to those who wait. Be patient because it will happen when the time is right.
2. Appreciate the creativity
You must be able to appreciate and respect creativity as it is essential to the production of any idea or item. You can’t cheat your way through the creative process if you want to have a valuable and quality outcome.
3. The creative process is the key to success
The creative process in any product or idea is the primary source of its success. There is no way around it, and it takes time and careful, creative thinking to produce the best possible outcome.
Frequently Asked Questions
Bernard Arnault’s net worth is estimated to be $162 Billion as of 2022.
Bernard Arnault was born on March 5, 1949, and is currently 73 years old as of 2022.
Bernard Arnault’s height is 1.85 m, which is equal to 6 ft 1 in.
Bernard Arnault is the chairman and CEO of LVMH Moët Hennessy – Louis Vuitton SA, the largest luxury merchandises company in the world. He was born on March 5, 1949, in Roubaix, France. Bernard has been among the world’s richest persons for most of his adult life. French millionaire Bernard Arnault made his fortune as the chairman and CEO of LVMH, the biggest luxury goods company in the world. Arnault’s net worth is $162 billion as of this writing. He has invested in Netflix, Princess Yachts, Royal van Lent, and Carrefour.
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