Bernard Jean Étienne Arnault is a French business magnate, art investor and actor collector, known especially as the CEO and chairman of the world’s largest luxury goods company, LVMH. Not only is he considered the richest person in France, he is also considered one of richest people in the world and one of the richest people in his industry. Let’s take a look at his life over the years, starting with his net worth!
Bernard Arnault Net Worth As Of 2019: $75.5 Billion
Bernard Arnault’s net worth is estimated to be around $75.5 billion. Let’s take a look at his life over the years to see how he came so far!
The Early Years
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A native of Roubaix, Arnault attended École Polytechnique in Palaiseau, where he graduated with an engineering degree in 1971, at which point he joined his father’s civil engineering company, Ferret-Savinel. While working there, he convinced his father to liquidate the construction division of the company and change focus towards real estates. After it was renamed Férinel, Arnault rose to become the company’s Director of Company Development in 1974, CEO in 1977 and succeeded his father as president in 1979.
1984-1989
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In 1984, Arnault acquired the Financière Agache, a luxury goods company, with the aid of Antoine Bernheim, a senior partner of Lazard Frères. Becoming its CEO, he later took control of the Boussac Saint-Frères textile company. 1987 saw the creation of LVMH, itself a merger of fashion house Louis Vuitton and Moet Hennessy, Over the years, LVMH has acquired various firms, including Guerlain, Berluti and Kenzo.
1990-Present
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In the 1990’s, Arnault decided to branch out to the United States with an LVMH center in New York, with the project ultimately becoming the LVMH Tower that opened in December 1999. Around this time, he started to invest in the internet, with web companies like Boo.com, Libertysurf and Zebank. Groupe Arnault also invested in Netflix by 1999. By 2008, it was announced that Arnault joined the yacht industry, purchasing Princess Yachts for 253 million euros, eventually taking control of Royal van Lent. During this period, he also saw interest in art, owning the Phillips de Pury & Company art auction house. In 2006, Arnault started the building project of the Louis Vuitton Foundation, which had its grand opening at the Jardin d’Acclimatation Paris in October 2014.
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2019
Bernard Arnault, who is the CEO of Louis Vuitton since 1989, becomes the fourth richest man in the world with the net worth of 88$ billion.
