Bernard Arnault | |
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_-_2017_(cropped).jpg) Arnault in 2017 | |
| Born | Bernard Jean Étienne Arnault 5 March 1949 Roubaix, France |
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| Children | 5, including Delphine, Antoine and Frédéric |
| Honors | Grand Cross of the Legion of Honour (2023)[1] |
Bernard Jean Étienne Arnault (French: [bɛʁnaʁ ʒɑ̃ etjɛn aʁno]; born 5 March 1949) is a French businessman, investor and art collector.[2][3] He is the founder, chairman and CEO of LVMH, the world's largest luxury goods company. Arnault is one of the richest individuals in the world, with an estimated net worth of US$199.7 billion as of September 2024[update], according to Forbes and US$208 billion according to Bloomberg Billionaires Index.[4]
Arnault was raised in a devoutly Catholic household. He pursued Engineering at École polytechnique, graduating in 1971. He began his career in his father's company, Ferret-Savinel, shifting its focus to real estate, which laid the groundwork for his future career in the luxury goods market.
Arnault's entry into the luxury sector was marked by his strategic acquisition in 1984 of the financially-struggling textile and retail conglomerate Boussac Saint-Frères, which included the prestigious fashion house Christian Dior. His aggressive business strategies earned him the nickname "The Terminator", as he revitalized Dior and sold off other assets for profit. In 1987, he played a key role in the creation of LVMH (an acronym for Louis Vuitton Moët Hennessy), a global luxury goods company, by merging Louis Vuitton with Moët Hennessy. Through a series of strategic acquisitions and investments, Arnault built LVMH into a leading company in the luxury industry, overseeing significant growth and expansion into various sectors, including fashion, jewelry, watches, and wine.
Arnault's influence extends beyond LVMH, with investments in web companies and philanthropic endeavors, particularly in the arts. He has been involved in notable real estate and yacht ventures. His leadership has led to LVMH becoming the largest company by market capitalization in the eurozone. Despite controversies, including his attempt to become a Belgian citizen, Arnault's business acumen has solidified his status as a key figure in the global luxury market.
- ^ "Décret du 29 décembre 2023 portant élévation aux dignités de grand'croix et de grand officier de l'ordre national de la Légion d'honneur" Archived 31 December 2023 at the Wayback Machine, www.legifrance.gouv.fr, 31 December 2023.
- ^ "Bernard Arnault & family". Forbes. Archived from the original on 22 February 2012. Retrieved 23 August 2017.
- ^ Galloni, Alessandra (5 March 2009). "Being LVMH's Bernard Arnault". WSJ. Magazine. Archived from the original on 10 March 2009. Retrieved 31 May 2011.
- ^ "The Top 10 Richest People In The World (September 2024)". Forbes. 27 September 2024. Archived from the original on 1 August 2024. Retrieved 27 September 2024.