Bernard Jean Étienne Arnault, a French business magnate, also invests and collects works of art. He is a co-founder, chairman, and CEO of LVMH Mot Hennessy-Louis Vuitton SE, the largest luxury goods company in the world.
When considering the title of this article, the phrase “the richest man in the world” comes to mind. He is the first man from Europe to hold this title.
About Bernard Arnault
Early Life
On March 5, 1949, Arnault was born in Roubaix, France. He was raised in a family of civil engineers as the son of Ferrel-Savinel owner Jean Leon Arnault. In 1971, Arnault received his M.Sc. from the Palaiseau campus of the École Polytechnique de France.
Arnault attended the Lycée Faidherbe in Lille and the Maxence Van Der Meersch in Roubaix before earning his engineering degree from the Ecole Polytechnique, France’s top institution, in 1971.
After receiving his degree, he started working for his father’s company in 1976, and in 1979 he was promoted to president. Between 1969 and 1971, he graduated from Ecole Polytechnique with a diploma.
Bernard Arnault Net worth
Bloomberg estimates Bernard Arnault net worth at $181.8 billion as of December 2022. Arnault has amassed a sizable fortune, but he shows no signs of slowing down; LVMH raised its CEO age limit from 75 to 80 in early 2022, implying he’ll be in charge for at least a few years longer. Arnault, an avid art collector, is estimated to have $10.3 billion in cash and other assets.
Career
Bernard began purchasing other businesses after becoming chairman of the company, including the luxury goods company Financier Agache. He also purchased the struggling textile company Boussac Saint-Frères as well as the diaper manufacturer Peaudouce.
He was named CEO of LVMH in 1987, and chairman in 1989 after purchasing the majority of the company’s shares. Along with Kering and the Swiss luxury behemoth Richemont, Arnault is one of the biggest luxury groups in the world today. He oversaw the acquisitions of major corporations such as Lowe’s, La Tribune, Les Echos, Kenzo, Celine, and Berluti.
Arnault has also made investments in other businesses, including Princess Yachts, Château d’Yquem, Boo.com, Zebank, Netflix, and Colony Capital. Arnault is an art collector in addition to being a businessman; his collection includes pieces by Yves Klein, Andy Warhol, Henry Moore, Pablo Picasso, and more.
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Author Bio: Mahak is a regular content writer at Net Worth Hack.
