Bernard Arnault Net Worth (Money & Salary) 2024 (2024)

Bernard Arnault Net Worth (Money & Salary)

Bernard Arnault is a wealthy entrepreneur from France with a fortune totaling $202 billion. Bernard Arnault accumulated his wealth as the head and top executive of the world’s largest luxury goods company, LVMH. Throughout his life, Bernard’s financial status has positioned him among the most affluent folks globally, alongside individuals such as Elon Musk, Jeff Bezos, and Bill Gates. On December 13, 2022, Bernard Arnault briefly took over Elon Musk to become the wealthiest person on Earth. By April 2023, with LVMH’s stocks skyrocketing, Bernard Arnault’s total worth surpassed $200 billion for the first time, making him one of only three individuals in history to achieve a net worth exceeding $200 billion (without adjusting for inflation).

Wealth Overview

Bernard Arnault amassed his fortune as the Chief Executive Officer of LVMH. In the 1980s, Arnault rescued Christian Dior from bankruptcy. He then utilized the profits and increased valuation of Dior to assemble a group of luxury brands, notably Louis Vuitton, Moet, Hennessy (thus “LVMH”), Marc Jacobs, Givenchy, Tag Heuer, Bulgari, and Tiffany & Co. Presently, LVMH houses around 60 brands and generates annual revenues of $70 billion. As of now, LVMH holds an estimated market capitalization of $384 billion.

Bernard and the extended Arnault family still directly own 97% of Dior, with Dior holding a 41% stake in LVMH. Additionally, the family owns an extra 7% of LVMH separately, holding a majority stake in the total voting rights.

Outside of LVMH, Bernard personally possesses two vineyards in France, Princess Yachts, a 5% stake in Carrefour – the largest supermarket chain in France – and a multi-billion-dollar art collection comprising pieces by Picasso and Warhol.

In June of 2019, Bernard Arnault’s wealth exceeded $100 billion for the first time, positioning him as the third-richest individual globally. By July 2019, his wealth soared to over $108 billion, edging out Bill Gates and making him the second-richest person worldwide. He claimed the title of the richest person globally in December 2022 when his net worth of $171 billion surpassed Elon Musk’s $168 billion.

Formative Years

Bernard Jean Étienne Arnault was brought into the world on March 5, 1949, in Roubaix, France. His father, Jean Léon Arnault, was an industrialist and an alumnus of École Centrale Paris. His mother, Marie-Josèphe Savinel, was the offspring of Étienne Savinel, the proprietor of the civil engineering company Ferret-Savinel. In 1950, Savinel delegated the management of Ferret-Savinel to his son-in-law Jean Léon Arnault (Bernard’s father), eventually transferring ownership of the company to him. Bernard graduated from France’s leading engineering institution, the École Polytechnique, in 1971.

Family Enterprise

Upon completing his studies in 1971, Arnault commenced his career at his father’s venture, Ferret-Savinel (previously under his maternal grandfather’s ownership). He ascended to the role of president of the company in 1978, a position he retained until 1984. During his tenure at Ferret-Savinel, he steered the company away from construction, concentrating more on real estate, a strategic business pivot that proved immensely successful.

Premium Goods Industry

In 1984, Bernard acquired the luxury conglomerate Financiere Agache with the support of Antoine Bernheim. He assumed the position of CEO at Financiere Agache, subsequently acquiring the textile company Boussac Saint-Freres out of insolvency. Boussac had a portfolio of numerous brands and outlets, including the esteemed brand Christian Dior and the department store Le Bon Marche. Arnault divested all Boussac assets except Dior and Le Bon Marche.

To date, Bernard and his family maintain direct ownership of 97% of Dior.

LVMH

Capitalizing on the augmented value and earnings of Dior, Bernard embarked on a luxury brand acquisition spree. In 1987, he established LVMH, a conglomerate to hold the combined luxury fashion entities Louis Vuitton and Moët Hennessy. In July 1988, he injected $1.5 billion and forged a holding entity with Guinness, securing a 24% stake in LVMH. Speculations arose that the Louis Vuitton group intended to amass LVMH shares to form a “blocking minority,” prompting Arnault to proactively counter, investing an additional $600 million in 13.5% of LVMH shares, making him the largest shareholder. Undeterred, in January 1989, he further shelled out $500 million to acquire more shares, amassing a total of 43.5% ownership of LVMH shares and 35% of its voting rights. Leveraging his control, he quashed the breakup of the LVMH group and has since spearheaded its transformation into one of the foremost luxury conglomerates globally.

Under Arnault’s leadership, LVMHexperienced substantial expansion. Over the course of eleven years, not only did revenues and earnings surge by a factor of 5, but the company’s market capitalization also increased by a multiple of 15. Despite owning a significant number of brands (totaling 75 as of June 2020), Arnault has persisted in advocating an approach that decentralizes the brands. This strategy aids in establishing them as distinct brands and businesses with their unique narratives and backgrounds. Among the numerous brands under LVMH are Céline (acquired in 1988), Berluti (in 1993), Kenzo (in 1993), Guerlain (in 1994), Loewe (in 1996), Marc Jacobs (in 1997), Sephora (in 1997), Thomas Pink (in 1999), Emilio Pucci (in 2000), and Fendi (in 2001).

Additional Investments

Besides LVMH, Arnault has diversified his investments significantly. Between 1998 and 2001, through his holding company Europatweb, he ventured into various internet enterprises, including Boo.com, Libertysurg, and Zebank. Via his investment entity, Groupe Arnault, he became an investor in Netflix in 1999. It was revealed in 2007 that Arnault, in collaboration with the California real estate company Colony Capital, holds a 10.69% stake in Carrefour. Carrefour stands as France’s largest supermarket chain and the second-biggest food distributor globally. Moreover, he has shown interest in the luxury yacht industry. In 2008, he made a €253 million acquisition of Princess Yachts. Shortly after, he secured control of Royal van Lent for a comparable sum of money.

Artistic Collection

Arnault’s pursuits extend beyond the realm of business – he is recognized for his profound passion for art curation. Through LVMH, Arnault has sponsored art exhibitions in France showcasing renowned artists such as abstract painter Pablo Picasso and Pop Art trailblazer Andy Warhol.

Personal History

In 1973, Arnault tied the knot with Anne Dewavrin; they parted ways in 1990. Together, they have two children. In 1990, he entered into marriage with Canadian pianist Hélène Mercier. The couple has three children together. In 2019, in response to the tragic fire that afflicted the historic Notre Dame Cathedral in Paris, France, Arnault and his family pledged €200 million to aid in the renovation and rehabilitation endeavors.