Full Name: Bernard Jean Étienne Arnault
Profession: Businessman and Founder of LVMH
Biography: Bernard Arnault is the richest person in the world as of 2024, with an estimated net worth of $211 billion as of May 2024. This wealth comes from his position as founder, chairman, and CEO of LVMH, the world's largest luxury goods company.
Arnault graduated from École Polytechnique in 1971 and began working for his father's company, which he later convinced his father to rename Ferinel, shifting its focus to real estate. In 1984, Arnault acquired the luxury goods company Financière Agache and won the bidding war for Boussac Saint-Frères, which owned the Christian Dior brand.
After acquiring Boussac Saint-Frères, Arnault laid off many workers and sold most of the company's assets, keeping only the Christian Dior brand and Le Bon Marché department store.
In 1987, he worked with Alain Chevalier and Henry Racamier to form LVMH. Arnault eventually became the chairman of LVMH in 1989 after a power struggle with Racamier.
Under Arnault's leadership, LVMH grew into one of the largest luxury groups in the world. He acquired numerous luxury brands, such as Céline, Fendi, and Bulgari. Arnault also invested in web companies and entered the yacht business.
Arnault owns an extensive art collection and has established LVMH as a significant patron of art in France. He created the Louis Vuitton Foundation, dedicated to contemporary art, with a building designed by Frank Gehry.
Arnault has been married twice and has five children. His children and niece hold official roles in brands controlled by Arnault. He briefly became the richest person in the world in 2019 and 2020, and regained this status in August 2021.
Despite some controversies, such as an incident in which he is alleged to have sought Belgian citizenship, Arnault has received various honors, including the Grand Cross of the Légion d'Honneur, France's highest honor, in 2023.
Born: March 5, 1949
Birthplace: Roubaix, France
Age: 75 years old
Generation: Baby Boomer
Chinese Zodiac: Ox
Star Sign: Pisces
References
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