Bernard Arnault, Bernard Arnault Net Worth, Bernard Arnault wife Bernard Arnault was a businessman. And he was born on March 5, 1949. The real name of the Bernard Arnault is Bernard Jean Etienne Arnault. He is a French business magnate, as well as an investor, and also an art collector. Bernard Arnault is the chairman and also the Chief Executive Officer (CEO) of the LVMH, the most significant luxury goods company in the world. He is the wealthiest person in the France and the eighth richest person in all over the world according to the Forbes magazine. So in October 2017, his net worth was expected to be 60.3 billion USD.
Full Name
Bernard Arnault
Birth Date
March 5, 1949
Nationality
American
Height
5 ft
Bernard Arnault Net Worth
$60.3 billion
Source of Income
Business
Religion
Catholic
The Early life of Bernard Arnault:
When he graduated from the Lycée Maxence Van Der Meersch in the Roubaix, then Arnault admitted to École Polytechnique in the Palaiseau. And from which he also graduated with an engineering degree in the 1971. The name of his father was Jean Leon Arnault. And he was a graduate of École Centrale of Paris. He was a manufacturer and also the owner of the civil engineering company named, Ferret-Savinel.
The career of Bernard Arnault: Férinel:
After the graduation, Bernard Arnault joined the company of his father, in 1971. And in 1976, he persuaded his father to clear up the construction division of the company for the 40 million French francs and to change the focal point of the company to the real estate. By using the name of the Férinel, the new company
also developed a specialty in the holiday accommodation. Named the Director of the Company Development in 1974, and he became the CEO in 1977. And in 1979, he makes it his father as president of the company. Christian Dior:
In 1984, Arnault acquired the Financière Agache, which was a luxury goods company with the help of Antoine Bernheim. Antoine Bernheim was a senior partner of the Lazard Frères. Then he also became the CEO of Financière Agache and then took control of the Boussac Saint-Frères. Boussac Saint-Frères was a textile company in turmoil. And Boussac owned the Christian Dior, the departmental store Le Bon Marché, the retail shop of Conforama, and also the diapers manufacturer Peaudouce. Then he sold nearly all the assets of the company and kept only the important Christian Dior brand and Le Bon Marché department store. LVMH:
In 1987, abruptly after the construction of LVMH, th at was the new luxury group resulting from the combination between the two companies. And Bernard Arnault arbitrated a conflict between the Alain Chevalier, as well as Moët Hennessy’s CEO, and also Henri Racamier, president of the Louis Vuitton. The new gr oup also held the property rights to that of the Dior perfumes that Bernard Arnault supposed should include into Dior Couture. In July 1988, Bernard Arnault also provided $1.5 billion to construct a holding company with the Guinness that also held the 24% of LVMH’s shares in it. And in response to rumors that the Louis Vuitton group was even buying the LVMH’s stock to make a “blocking minority”. Bernard Arnault also spent $600 million to buy the 13.5% more shares of the LVMH, to making himself the first sha reholder of LVMH’s. In January 1989, he again spent another $500 million to gain total control of the 43.5% of the LVMH. And he also gained the 35% of the voting rights. Thus he reached the “blocking minority” that he actually needed to stop the dismantlement the group of the LVMH. And on 13 January 1989, he was also commonly elected the chairman of the executive management board.
Since then, Bernard Arnault led the company through a determined development plan and also transforming it into one of the large st comfort groups in the world. And alongside Swiss luxury giant Richemont and even with the French -based Kering. In the next eleven years, the market value of the LVMH has multiplied by at least fifteen. While, at the same time, the sales and profit also rose by 500%. He also promoted the decisions towards the decentralizing of the brands of the group. And it is a result of these actions; the brands are now also viewed as the independent firms with their hold history. The shares of Bernard Arnault in LMVH:
The professional decisions of Bernard Arnault also support the idea that LVMH has got “shared advantages” such having the strong brands that can help in finance those that are still developing. The collection of major luxury brands of it also has a history of the stability. And that’s why its firmness allows for the new achievements and even the group development. It is because of this policy that Christian Lacroix could also open his private fashion house. And In July 1988, Bernard Arnault also obtained Céline. In 1993, LVMH acquired Berluti and even Kenzo. In the same year, Bernard Arnault also bought out the French economic newspaper named La Tribune. And the company never attained the desired success, in spite of his 150 million euro investment, and at last, he sold it in November 2007 to buy a different French economic newspaper, Les Échos, for the 240 million euros. Obtaining the Perfume firm:
In 1994, LVMH also obtained the perfume firm named Guerlain. And in 1996, Bernard Arnault also bought out the Loewe, followed by the Marc Jacobs and even Sephora in 1997. These brands also included into the group: Thomas Pink in the 1999, as well as Emilio Pucci in 2000 and also Fendi, DKNY and La Samaritaine in the 2001. So in the 1990s, Bernard Arnault decided to develop a center in the New York to manage the LVMH’s presence in the United States. He also chose Christian de
Portzamparc for the supervision of this project. And the result of this was the LVMH Tower that opened in the December 1999. Other investments of Bernard Arnault:
From 1998 to 2001, Bernard Arnault invested in a variety of the web companies such as Boo.com, Zebank, and also in Liberty surf through his holding the Europatweb. Groupe Arnault also devoted to Netflix in the 1999. In 2007, Blue Capital that Bernard Arnault also owns jointly with the property firm of the California Colony Capital that acquired 10.69% of the France’s largest supermarket retailer and even the world’s second-largest food distribution Carrefour. In 2008, he also entered the cruiser business and even bought Princess Yachts for 253 million euros. He later took control of Royal van and Lent it for an almost identical sum. Arnault as an Art Collector:
Bernard Arnault is also a noted art collector and also known for his current collection that includes the work by Picasso, Henry Moore, as well as Yves Klein, and even Andy Warhol. He was also involved in establishing the LVMH as a significant supporter of Art in France. The LVMH Young Fashion Designer also created an open international competition to the students from the excellent art schools. Every year, the winner is also awarded a grant to support the creation of that of the designer’s own label. And there is also a year of mentorship for the winner. From the 1999 to the 2003, he also owned the Phillips de Pury & Company, that is an art auction house. And he also bought out the first French auctioneer, Tajan. In 2006, Bernard Arnault also started the building project of Louis Vuitton Foundation. It also dedicated to the creation and even the contemporary art. And the building was designed by the architect Frank Gehry. The grand opening of the Foundation also held on October 20, 2014, in the Jardin d’Acclimatation Paris .
Awards of Bernard Arnault:
Commmandeur of the Légion d’Honneur on February 10, 2007. Grand Officer of the Légion d’Honneur on July 14, 2011. The Woodrow Wilson Award for the Global Corporate Citizenship in 2011. Knight Commander of the Most Excellent Order for the British Empire in 2012. The Museum of the Modern Art’s David Rockefeller Award in March 2014.
Personal life of Bernard Arnault:
Bernard Arnault has also been marring twice and also has a daughter and as well as four sons. He was married for the first time to Anne Dewavrin from the 1973 to 1990. And this couple has a daughter named, Delphine and also a son named, Antoine. Bernard Arnault also married his second wife named, Hélène Mercier Arnault, a Canadian pianist from the Quebec, in 1991. Thi s couple also has three sons, Alexandre, as well as Frédéric, and even Jean. As Bernard Arnault was also a witness at the French President Nicolas Sarkozy’s wedding with the Cécilia Ciganer-Albéniz. Bernard Arnault also owned the 70 m (230 ft) transformed research on vessel Amadaeus. And this was even sold in late of 2015. His current 101.5 m (333 ft) yacht work of art built in the Netherlands by the Feadship. And it was also delivered in the mid of 2015. Bernard Arnault also owns the Cistern Key; it also i s known as the Indigo Island. That is a 135-acre luxury retreat in the Exumas. The island can also host to up to 18 guests and can even be renting for upwards of the $300,000 per week high profile guests including the Robbie Williams and also the Aga Khan. Bernard request for the Belgian nationality:
It was also revealed that the Bernard Arnault also planned to apply for the Belgian citizenship. And he was considering moving to Belgium in 2013. In April 2013, Bernard Arnault said that he had even been misquoted and also that he never intended to leave the France: “I frequently said that I would stay there as a resident in the France and that I would continue to pay my taxes…. Today, I have decided to remove any uncertainty. I also withdraw my request for Bel gian nationality. And requesting for Belgian nationality was for the better defender of
the foundation that I have created with the single purpose of ensuring the stability and also the integrity of the LVMH group if I were to disappear�. So on April 10, 2013, Bernard Arnault also declared that he had also decided to discard his application for Belgian citizenship, saying that he did not want the move to get the wrong impression about as a measure of tax avoidance at a time when France faced the economic and social challenges. Bernard Arnault also confirmed that several employees are requesting to leave the France for tax purposes, that he refused their requests, and that was “the 75% tax would not raise a lot of the profits, but they should confirm less troublesome now that it was set to be taxes on firms rather than the people and only due to stay in the place for only two years Read More bernard arnault/