Bernard Arnault: The Fortune of the Entrepreneur
|Shares in the LVMH Group||46.84%|
|birth date||March 05, 1949 (73 years old)|
|Born in||Roubaix, Nord Pas de Calais, France|
|Marital status||married to Hélène Mercier (since 1991)|
|Full name||Bernard Jean Etienne Arnault|
|Children||5 (Delphine, Antoine, Alexandre, Frédéric, Jean)|
How rich is Bernard Arnault?
When the cash registers ring at Sephora, Louis Vuitton and Co., Bernard Arnault’s fortune keeps growing. The Frenchman, who has applied for Belgian citizenship, now has an empire of luxury brands to call his own. The entrepreneur is the richest European and therefore one of the richest people in the world. Arnault has been the majority shareholder at Dior since 1985 and has also had his fingers in the game at the luxury group LVMH Moet Hennessy Louis Vuitton since 1989. From glamorous handbags that cost half a fortune to fine champagne, which of course comes from France, Bernard Arnault earns his money from the finer things in life. Even a French business newspaper is now part of his impressive empire. In the meantime, Bernard Arnault has made a fortune of 199.61 billion euros with his luxury articles .
Top brands under the LVMH umbrella
Some of the most well-known brands under the LVMH DACH:
- Alcohol: Moët & Chandon, Dom Pérignon, Veuve Clicquot, Armand de Brignac, Krug, Belvedere, Hennessy
- Fashion and accessories: Louis Vuitton, Givenchy, Dior, Celine, Kenzo, Berluti, Rimowa, Fenty
- Watches: Bulgari, TAG Heuer, Zenith, Hublot
From the small construction worker to the multi-millionaire
The wealthy Frenchman owes his wealth not least to his ancestors. After all, his father once earned a lot of money in the construction industry. Thus, the son had the wherewithal to join Christian Dior. This smart move ultimately cost him a good 12.5 million euros. Even at Hermes, Arnault, who has a degree in engineering, is now a shareholder. In fact, before entering the French luxury goods business par excellence, the savvy entrepreneur worked in the construction industry . He has built luxury holiday homes in both France and the USA, thereby demonstrating his entrepreneurial skills for the first time.
After returning from the USA, I got into the fashion business . The billionaire has decisively shaped the French and thus also the global fashion landscape – albeit mainly behind the scenes. After all, Christian Lacroix would not be as successful today without Bernard Arnault. Because the entrepreneur was to thank for his entry into the fashion business in 1987. Bernard Arnault started small in construction and has managed to become a multi-millionaire. Now he is at the forefront of the richest people in the world. Surrounded, on the lists of the richest, by Jeff Bezos , Bill Gates , Warren Buffet and other millionaires.
Bernard Arnault has the right nose
Bernard Arnault recognized early on which brands fit his portfolio and how he can expand it as profitably as possible. Also in 1987, he bought Celine, a company specializing in luxury leather goods. Whether it’s Dior, Celine or Louis Vuitton, some of the biggest labels in the world have made the French rich and could continue to increase his fortune immeasurably in the future .
The entrepreneur is always up to date. In the 2017 financial year, for example, he was able to set new records by working with megastar Rihanna . The beauty collection Fenty Beauty, launched by Arnault’s company with the singer, has hit the market like a bomb. Now the fashion brand “Fenty” is being rebuilt directly under the LVMH umbrella together with the singer.
In 2021, LVMH bought 50% of the champagne brand “Armand de Brignac” from rapper Jay Z and is thus further expanding its cooperation with the top stars of this world.
At Louis Vuitton, too, new collaborations with great artists ensure that the label can generate record sales. However, Bernard Arnault describes himself as a cautious man. He doesn’t take any ill-considered steps and fears another global economic crisis. Nevertheless, the entrepreneur can currently count himself lucky. Because especially in Asia, the luxury products of the various Arnault companies are in such high demand that the group can hardly cover the demand. The grapes for the champagne and cognac are running out and the fashion and luxury leather goods companies of the Arnault empire are desperately looking for new employees. However, the head of the company does not allow himself to be carried away by ill-considered investments and expenditures. Because he wants to be well positioned even in the event of a crisis and be able to continue to run his companies profitably.
Alice Walton is the richest woman in the world.