Bernard Arnault
| Bernard Arnault | |
|---|---|
Arnault in 2009
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| Born |
Bernard Jean Étienne Arnault 5 March 1949 Roubaix, France |
| Residence | Paris, France |
| Nationality | France |
| Alma mater | École Polytechnique |
| Occupation | Chairman and Chief Executive Officer of LVMH Chairman of Christian Dior S.A. |
| Net worth | US$37.3 billion (November 2016) |
| Spouse(s) | Anne Dewavrin (m. 1973–1990) Hélène Mercier (m. 1991) |
| Children |
with Dewavrin: Delphine Arnault Antoine Arnault with Mercier: Alexandre Arnault Frédéric Arnault Jean Arnault |
| Website | Bernard Arnault, Chairman and Chief Executive Officer of LVMH |
Bernard Jean Étienne Arnault (French: [bɛʁnaːʁ aʁno]; born 5 March 1949) is a French business magnate, an investor, and an art collector.
Arnault is the Chairman and Chief Executive Officer (CEO) of LVMH. He is the richest man in France, and the 13th richest person in the world. In November 2016, his wealth was estimated to be US$37.3 billion.
After graduating from the Maxence Van Der Meersch High School in Roubaix, Arnault was admitted to École Polytechnique, from which he graduated with an Engineering degree in 1971.
His father, Jean Leon Arnault, a graduate of École Centrale Paris, was a manufacturer and the owner of the civil engineering company, Ferret-Savinel.
After graduation, Arnault joined his father's company in 1971. In 1976, he convinced his father to liquidate the construction division of the company for 40 million French francs, and to change the focus of the company to real estate. Using the name Férinel, the new company developed a specialty in holiday accommodation. Named Director of Company Development in 1974, he became the CEO in 1977. In 1979, he succeeded his father as President of the company.
In 1984, with the help of Antoine Bernheim, a Senior Partner of Lazard Frères et Cie., Arnault acquired the Financière Agache, a luxury goods company. He became the CEO of Financière Agache, and subsequently took control of Boussac, a textile company in turmoil. Boussac owned Christian Dior, the department store Le Bon Marché, the retail shop Conforama and the diapers industrial Peaudouce. He sold nearly all the company's assets, keeping only the prestigious Christian Dior brand, and Le Bon Marché department store.
In 1987, shortly after the creation of LVMH, the new luxury group resulting from the merger between two companies, Arnault mediated a conflict between Alain Chevalier, Moët Hennessy's CEO, and Henri Racamier, president of Louis Vuitton. The new group held property rights to Dior perfumes, which Arnault believed should be incorporated into Dior Couture.
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