What do you think Bernard Arnault’s Net Worth is? Bernard Jean Étienne Arnault is a French business magnate, investor, and collector who was born on March 5, 1949. He founded LVMH Mot Hennessy – Louis Vuitton SE, the largest luxury goods company in the world, and he currently serves as its chairman and CEO.
The largest luxury goods firm in the world, LVMH Mot Hennessy Louis Vuitton, is led by him as its founder, chairman, and CEO. Below you can learn about Bernard Arnault’s net worth.
What is Bernard Arnault Net Worth in 2023?
Bernard Arnault a French billionaire is the wealthiest person in Europe. According to Bloomberg, his estimated Net worth is $185 billion. In addition to serving as the chairman and CEO of LVMH, the world’s largest producer of luxury goods, Arnault is also the richest person in the fashion industry.
Louis Vuitton bags, Dom Perignon champagne, TAG Heuer watches and Rimowa travel trunks are just a few of the numerous brands LVMH markets and distributes. Four of Arnault’s five kids still work in the family business today. His daughter Delphine is the current vice president of Louis Vuitton and hence the LVMH heiress.
According to Bloomberg Arnault, a Parisian with a home on the French Riviera, attended one of France’s top technical institutions and was appointed CEO of luxury goods holding company Financiere Agache in 1984 after graduating. See below for a glimpse into Arnault’s personal, career and family history.
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The History and Growth of Bernard Arnault
Bernard Jean Étienne Arnault a French millionaire was born in Roubaix on March 5, 1949. The son of Étienne Savinel, Marie-Josèphe Savinel, was a fashion icon in her own right and reportedly had a “fascination for Dior.” His father, businessman Jean Léon Arnault, an École Centrale Paris alumnus, established the civil engineering company Ferret-Savinel.
Fobes Middle East sent the following message on its official Twitter feed on February 18, 2023-
The world’s top 10 billionaires saw notable changes in their net worth this week. Bernard Arnault still holds his No. 1 ranking despite a drop in his wealth by $1.2 billion, while Elon Musk was the biggest gainer with a $3.4 billion rise in his fortune.
Arnault received his secondary education at Lycée Maxence Van Der Meersch in Roubaix and Lycée Faidherbe in Lille. After earning his degree in engineering from École Polytechnique, France’s premier institution, in 1971, he joined his father’s company. Three years after the younger Savinel persuaded his father to refocus the business on real estate, Ferret-Savinel lost its industrial construction division and changed its name to Ferinel.
As the company acquired a textile company and moved its headquarters, the real estate segment was renamed the George V Group. Compagnie Générale des Eaux (CGE), which later changed its name to Nexity, purchased the company’s real estate holdings.
Career Beginnings of Bernard Arnault
Arnault joined Ferret-Savinel in 1971 and eventually held the position of president from 1978 to 1984. The French government will soon be choosing a successor to the Boussac Saint-Frères empire, which included the Christian Dior fashion brand. Arnault learnt as a young real estate developer in 1984.
Bernard Arnault’s Alternative Investing
He and entrepreneur Albert Frère invested personally in Château Cheval Blanc in 1998. In 2009, LVMH acquired Arnault’s ownership interest in the business, expanding the company’s portfolio of wineries to include Château d’Yquem.
From 1998 through 2001, Arnault invested in companies including Boo.com, Libertysurf, and Zebank using his holding Europatweb. Groupe Arnault also invested in Netflix in 1999.
According to the California real estate company Colony Capital and Blue Capital, Arnault jointly held 10.69% of Carrefour, the second-biggest food distributor in the world and the largest supermarket retailer in France.
Bernard Arnault Richest Man in the World
Elon Musk’s net worth declines due to the decline in Tesla’s stock, propelling Bernard Arnault to the position of richest man. The world’s most wealthy goods corporation, LVMH empire, owned by Bernard Arnault, features over 70 fashion and beauty brands, including Louis Vuitton and Sephora.
To make LVMH one of the most wealthy empires in the world, he has grown a fashion empire in Paris. According to sources, Bernard retook the lead over Elon Musk as the richest man in the world on December 7.
In a tweet published on Trung Phan official Twitter feed on December 8, 2022, Trung Phan stated–
“Bernard Arnault (& Family) behind LMVH just took the top spot on Forbes richest person list with a net worth of $185B.”
Bernard Arnault (& Family) behind LMVH just took the top spot on Forbes richest person list with a net worth of $185B.
Here's a breakdown of the luxury empire: pic.twitter.com/QjQpPDqVpy
— Trung Phan (@TrungTPhan) December 7, 2022
In this article, we discussed Bernard Arnault’s net worth. He currently has the highest net worth in Europe. He makes more than $185 billion annually. We hope you found our content interesting. Visit Nog Magazine frequently for updates.
Jessa Martin is the author of Nogmagazine, A professional in writing by day, and novelist by night, she received her bachelor of arts in film from Howard University and her master of arts in media studies from the New School. A Brooklyn native, she is a lover of naps, cookie dough, and beaches, currently residing in the borough she loves, most likely multitasking.