Since 1987, BERNARD Arnault has been in charge of the largest luxury goods company in the world. This makes him one of the richest people in the world.
Who is Bernard Arnault and His Early Life?
French business magnate, investor, and art collector Bernard Arnault is from France.
Arnaut was born in Roubaix, France, on March 5, 1949.
He started, is chairman of, and runs the biggest luxury goods company in the world, LVMH Mot Hennessy Louis Vuitton.
Together with Alain Chevalier and Henry Racamier, he started this group with the goal of making a group of luxury brands.
Bernard Arnault’s Net Worth 2023
TheSun says that Bernard Arnault is worth about $204.7 billion (about £170 billion) right now.
As of March 2023, he is the richest person in the world, according to Forbes’ list of real-time billionaires.
He is always in the top five of the annual Forbes Rich List. In 2022, he was third, after Elon Musk and Jeff Bezos.
Business of Bernard Arnault’s Family
The family owns a number of luxurious businesses.
About 70 fashion and beauty brands, like Louis Vuitton and Sephora, are part of the LVMH empire.
LVMH bought Tiffany & Co. for $15.8 billion (about £13.8 billion) in January 2021. This is thought to be the biggest luxury brand purchase ever.
LVMH paid $3.2 billion (about £2.8 billion) for the luxury hospitality group Belmond in 2019. Belmond owns or manages 46 hotels, trains, and river cruises.
How Much Money Did Bernard Arnault Have When He Started?
His father had a lot of money because he worked in construction.
The construction company Ferret-Savinel was owned by the businessman Jean Léon Arnault.
This gave Arnaut just over £12 million to start with, which he and other investors used to buy Christian Dior in 1985.
In 1987, he got together with the CEO of Mot Hennessy, Alain Chevalier, and the president of Louis Vuitton, Henry Racamier, to merge their companies into one big one. This was the start of LVMH.
In 1990, Arnault got rid of Racamier and began to bring a lot of fashion companies into the LVMH family.
LVMH became Europe’s most valuable company in 2021 when it was worth $329 billion (about £288 billion).
Post Source: Thesun
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