Who is Bernard Arnault: Biography, Top Richest Men of World

 Bernard Arnault France wealthiest person is the president of LVMH Mast Hennessy Louis Vuitton, the world’s largest luxury goods manufacturer. He manages about half of LVMH, which generated € 44.6 billion ($ 51 billion) in 2020. He sells products such as Louis Vuitton leather goods, TAG Heuer watches and Dom Pérignon champagne.

Most of Arnauld’s property came from a 97.5% stake in the luxury fashion house Christian Dior. According to the Diors 2020 Annual Report, it owns shares through an entity affiliated with Groupe Familial Arnault. Bernard Arnault is credited with all shares owned by the family holding company in Dior, as well as his other interests, to reflect his position as founder and patriarch.

According to the Dior 2020 Annual Report, Christian Dior controls 41.2% of LVMH, the world’s largest luxury goods manufacturer. These shares are not included in the analysis because the values ​​have already been obtained. According to the 2020 registration document, the family owns an additional 6.2% of LVMH and these shares are included in the net valuation.

According to the 2020 registration entry, Arnaud also manages a 5.6% stake in Carrefour and an unknown stake in Hermès. Analytical liabilities include liabilities held by the Arnaud family holding company in connection with the acquisition and restructuring of public shares. The value of cash held is based on analysis of dividends, market performance, insider trading, taxes and charitable donations.

Kekst & Co. Arnault spokeswoman Molly Morse said billionaires don’t want to comment on their net worth calculations.

Bernard Arnault Biography

Date of Birth: March 5, 1949Family: married, 5 childrenEducation: Ecole Polytechnique

Bernard Arnault was born in 1949 in the city of Roubaix in northern France. After earning a degree in engineering from Ecole Polytechnique in Paris, he joined his family’s company and persuaded his father to quit his construction business. For real estate. Arnaud entered the luxury goods market in 1984 with the acquisition of the bankrupt textile group owned by Christian Dior. He sold all the other businesses of the company and used the proceeds to buy a majority stake in LVMH. Other acquisitions include Fendi, TAG Heuer and Bvlgari. He didn’t look for and buy Sotheby’s auction house and retailer Gucci, but lost to billionaire Francois Pinault in 2010.

LVMH agreed to transfer a 23% stake in Hermès to shareholders in September 2014, ending a four-year battle to gain control of luxury brands. As part of a $ 13.2 billion transaction to strengthen Christian Dior’s control, it remained the largest individual shareholder until the sale of a majority stake in July 2017.

The millionaire lives on the left bank of Paris with his second wife, pianist Hélène Mercier. His collection of modern and contemporary paintings includes works by Jean-Michel Basquiat, Damien Hirst, Maurizio Cattelan, Andy Warhol and Pablo Picasso.

Arnaud sparked a tax debate in France in 2012 when the Belgian government announced that it wanted to be a Belgian citizen. Arnaud said he will continue to pay taxes in France. His application was aimed at protecting the foundation he established in Belgium to protect the “economic interests and wealth” of his heirs. In April 2013, he withdrew his application as “a gesture of attachment to France and faith in the future.”

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