Born on March 5, 1949, Bernard Jean Étienne Arnault is a French businessman, investor, and art collector. He is the founder, chairman, and CEO of LVMH, the world's largest luxury goods conglomerate. As of September 2024, his net worth is estimated at $208 billion by the Bloomberg Billionaires Index and $199.7 billion by Forbes, making him one of the wealthiest individuals globally.
Arnault was raised in a devout Catholic household. He earned an engineering degree from École Polytechnique in 1971 and began his career at his father’s company, Ferret-Savinel, which later transitioned into real estate. This early experience set the stage for his entry into the luxury goods market.
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| Born | Bernard Jean Étienne Arnault 5 March 1949 |
| Alma mater | École polytechnique |
| Occupations | Businessperson , Art collector Media proprietor |
| Known for | Founding LVMH |
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| Spouses | Anne Dewavrin (m. 1978; div. 1990) Hélène Mercier (m. 1991) |
| Children | 5, including Delphine, Antoine and Frédéric |
| Honors | Grand Cross of the Legion of Honour (2023)[1] |
Arnault’s pivotal moment came in 1984 when he acquired Boussac Saint-Frères, a struggling textile and retail company that owned the prestigious Christian Dior brand. Dubbed "The Terminator" for his strategic yet ruthless approach, he revitalized Dior and divested other assets profitably. In 1987, Arnault facilitated the merger of Louis Vuitton and Moët Hennessy, forming LVMH, which he transformed into a global leader in luxury through strategic acquisitions and investments across industries like fashion, wine, jewelry, and watches.
Beyond LVMH, Arnault is known for his investments in technology and philanthropy, particularly in the arts. His ventures also include successful real estate and yacht projects. Under his leadership, LVMH became the largest company in the eurozone by market capitalization, solidifying his position as a key figure in the global luxury market despite controversies like his attempted Belgian citizenship bid.
Early Life and Education
Bernard Arnault was born on March 5, 1949, in Roubaix, France. His mother, Marie-Josèphe Savinel, was a pianist with a passion for Dior, while his father, Jean Léon Arnault, was an engineer and businessman. Raised in a devout Catholic household, Arnault attended prestigious Catholic schools, including Lycée Faidherbe in Lille and Lycée Maxence Van Der Meersch in Roubaix. He developed a love for classical piano during his childhood.
In 1971, Arnault graduated from École Polytechnique, France’s premier engineering school, and began his career at Ferret-Savinel, his family’s business.
Career Highlights
1971–1987: Early Career
After joining Ferret-Savinel in 1971, Arnault convinced his father to pivot the company toward real estate. This shift led to the creation of the George V Group, which was later acquired by Compagnie Générale des Eaux (now Nexity). Arnault served as president of Ferret-Savinel from 1978 to 1984.
In 1984, Arnault acquired Boussac Saint-Frères, a struggling textile and retail group that owned Christian Dior, for a symbolic one franc with support from Lazard Frères. He streamlined the company by retaining Dior and the Le Bon Marché department store while selling off other assets, earning the moniker "The Terminator." By 1987, Boussac was profitable again.
1987–1989: Founding LVMH
Arnault co-founded LVMH in 1987 with Henry Racamier of Louis Vuitton and Alain Chevalier of Moët Hennessy. By 1988, he had invested $1.6 billion through a partnership with Guinness to acquire 24% of LVMH. He later increased his stake, becoming the largest shareholder. In 1989, he secured control with 35% of the voting rights and 43.5% of the shares, ousting Racamier and assuming leadership as chairman of the executive board.
1989–2001: Expansion of LVMH
Under Arnault’s leadership, LVMH’s market value grew 15-fold, with annual revenue and profit increasing fivefold. Key acquisitions included Céline (1988), Berluti (1993), and Sephora (1998). Arnault also supported the launch of Christian Lacroix’s fashion house and acquired stakes in brands like Kenzo and Guerlain.
Arnault expanded into wine with purchases of Château d'Yquem and Château Cheval Blanc and diversified into media by acquiring newspapers like La Tribune and Les Échos.
During the 1990s, Arnault attempted to acquire Gucci, leading to a contentious battle with the company’s management, which ended in 2001 with LVMH selling its shares for a $700 million profit.
Technology Investments
Between 1998 and 2001, Arnault invested in internet ventures through Europatweb, including Boo.com, Libertysurf, and Zebank. In 1999, his group also invested in Netflix.
Arnault’s visionary approach and strategic investments have cemented his legacy as a transformative leader in the luxury goods industry.
Personal Life
Family
In 1973, Bernard Arnault married Anne Dewavrin, with whom he had two children: Delphine and Antoine. The couple separated in 1990. In 1991, Arnault married Hélène Mercier, a Canadian-born concert pianist. Together, they have three sons: Alexandre, Frédéric, and Jean. The couple resides in Paris and ha
s four grandchildren—two from Delphine and two from Antoine.
All five of Arnault's children—Delphine, Antoine, Alexandre, Frédéric, and Jean—hold prominent roles in brands under the LVMH umbrella, along with his niece, Stephanie Watine Arnault. Alexandre serves as EVP of Tiffany & Co., Frédéric as CEO of LVMH Watches, and Jean as Director of Watchmaking Marketing and Development at Louis Vuitton. Delphine, who has been in a relationship with French billionaire Xavier Niel since 2010, became the CEO of Dior on February 1, 2023.
Wealth
Bernard Arnault was first recognized as the wealthiest individual in fashion in April 1999, surpassing Zara founder Amancio Ortega. That same year, he established Pilinvest, a Belgium-based holding company, through which he holds an 81% stake in Agache, the parent company of LVMH, controlling 48% of its shares and 63% of its voting rights.
In 2008, Arnault created Protectinvest, a private foundation in Belgium designed to ensure the stability of LVMH until 2023, safeguarding his children’s shares in Pilinvest until they were of sufficient age to manage them responsibly.
Arnault’s net worth has seen significant fluctuations. He became the world's second-richest individual in July 2019, with a fortune of $103 billion. Despite a decline during the COVID-19 pandemic, his wealth rebounded as luxury sales surged, especially in Asia. By August 2021, Arnault regained the title of the richest person in the world with a net worth of $198.4 billion. His family wealth peaked at $240.7 billion in April 2023.
In 2022, Arnault altered Agache’s legal structure to ensure long-term family control of LVMH. As of May 2024, the Bloomberg Billionaires Index ranked him as the world’s wealthiest person with a net worth of $218 billion.
Request for Belgian Citizenship
In 2013, Arnault's plans to apply for Belgian citizenship sparked public controversy. Arnault later clarified that the move was not intended to evade taxes but to secure the continuity of LVMH through his foundation. On April 10, 2013, he announced he was withdrawing the request to prevent further misinterpretation, reaffirming his commitment to France.
Transport
Arnault formerly owned the 70-meter yacht Amadeus, which he sold in 2015. He now owns the 101.5-meter yacht Symphony, built by Feadship in the Netherlands. In 2022, Arnault sold his private jet, a Bombardier Global 7500, after a Twitter user began tracking its flights. He now rents private aircraft for travel.
Art Collection and Philanthropy
Arnault’s extensive art collection includes works by Picasso, Yves Klein, Andy Warhol, and Henry Moore. Under his leadership, LVMH became a major patron of the arts in France. Initiatives like the LVMH Young Fashion Designer competition provide grants and mentorship to emerging talent.
Arnault founded the Louis Vuitton Foundation in 2006, commissioning architect Frank Gehry to design the building. Dedicated to contemporary art, the foundation opened in October 2014 in Paris.
Political Views
Arnault publicly supported Emmanuel Macron in the 2017 French presidential election. Interestingly, Brigitte Macron, the President’s wife, was once the teacher of Arnault's sons, Frédéric and Jean, at Lycée Saint-Louis-de-Gonzague.
Awards and Honors
- France: Grand Cross of the Légion d'Honneur (2023), Commandeur of the Ordre des Arts et des Lettres
- Italy: Grand Officer of the Order of Merit of the Italian Republic (2006)
- UK: Honorary Knight Commander of the Most Excellent Order of the British Empire (2012)
- Russia: Medal of Pushkin (2017)
- Other Recognitions:
- The Woodrow Wilson Award for Global Corporate Citizenship (2011)
- The Museum of Modern Art's David Rockefeller Award (2014)
References
- Arachchi, T.K. (2024) How Bernard Arnault built LVMH, the world’s largest luxury goods company., LinkedIn. Available at: https://www.linkedin.com/pulse/how-bernard-arnault-built-lvmh-worlds-largest-luxury-terence-isbec/ (Accessed: 03 January 2025).
- Bernard Arnault & LVMH international constellation - (2024) Your Trusted Consulting Partner for Global Expansion. Available at: https://www.ipanovia.com/bernard-arnault-lvmh-international/ (Accessed: 03 January 2025).
- Bernard Arnault & Family: Bernard Arnault, billionaire, famous entrepreneurs (2020) Pinterest. Available at: https://in.pinterest.com/pin/840976930406550970/ (Accessed: 03 January 2025).
- Inside Bernard Arnault’s private work lunches with his 5 ‘nepo baby’ kids (2023) South China Morning Post. Available at: https://www.scmp.com/magazines/style/celebrity/article/3217887/inside-bernard-arnaults-private-work-lunches-his-5-kids-why-worlds-richest-man-and-billionaire-ceo (Accessed: 03 January 2025).
- Goodreturn (no date) Bernard Arnault & Family: Bernard Arnault & Family Net Worth, biography, age, spouse, children & more, Goodreturn. Available at: https://www.goodreturns.in/bernard-arnault-family-net-worth-and-biography-blnr2.html (Accessed: 03 January 2025).
- Louis Vuitton owner LVMH reports surprise sales drop amid China slowdown (2024) The Guardian. Available at: https://www.theguardian.com/business/2024/oct/16/louis-vuitton-owner-lvmh-surprise-sales-drop-china-slowdown (Accessed: 03 January 2025).