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2024-04-15 06:45:42

Bernard Arnault

French businessman, investor, and art collector.
French businessman, investor, and art collector.
Bernard Arnault, founder of LVMH, is the world's richest person. Raised in a Catholic household, he pursued engineering before entering the luxury goods market. Known for strategic acquisitions, he transformed LVMH into a major player in the industry.
1949-03-05
Birth of Bernard Arnault
Bernard Jean Étienne Arnault, the French billionaire business magnate and art collector, was born in Roubaix, France on March 5, 1949.
1971
Graduation from École Polytechnique
In 1971, Bernard Arnault graduated from École Polytechnique, France's leading engineering school. This educational background laid the foundation for his future career in business and entrepreneurship.
1973
Marriage to Anne Dewavrin
In 1973, Bernard Arnault married Anne Dewavrin, with whom he had two children, Delphine and Antoine.
1974
Named Director of Férinel Company
In 1974, Bernard Arnault was appointed as a director of the Férinel company, a new venture that initially focused on developing specialty holiday accommodations.
1976
Liquidation of Construction Division
In 1976, Bernard Arnault convinced his father to liquidate the construction division of the company for 40 million French francs and shift focus to real estate.
1977
Became Chief Executive of Férinel Company
Bernard Arnault took on the role of chief executive of the Férinel company in 1977, further solidifying his position within the organization.
1979
Became President of Férinel Company
In 1979, Bernard Arnault succeeded his father as the president of the Férinel company, marking a significant milestone in his career.
1984
Bernard Arnault acquires Christian Dior
In 1984, Bernard Arnault seized the opportunity to purchase Christian Dior after learning that its parent company Boussac was in bankruptcy. He combined funds from his family and a financial institution to acquire Boussac, marking the beginning of his journey to establish LVMH.
1985
Chief Executive of Agache-Willot Group
In 1985, Bernard Arnault held the position of Chief Executive at Agache-Willot Group in Paris, France.
1987-06-03
Formation of LVMH
Bernard Arnault formed LVMH in 1987, which controls more than 60 luxury brands including Louis Vuitton, Christian Dior, Givenchy, and Celine. The conglomerate has a significant impact on the fashion industry due to its extensive acquisitions and profitability.
1989-01-13
Chairman of LVMH Executive Management Board
On January 13, 1989, Bernard Arnault was unanimously elected chairman of the executive management board of LVMH.
1990
Acquisition of Louis Vuitton Moet Hennessey
In 1990, Arnault embarked on a spree to gain control of Louis Vuitton Moet Hennessey, a renowned fashion and spirits company. This strategic move further solidified his position in the luxury market and marked the beginning of his expansion into the high-end fashion industry.
1991
Marriage to Hélène Mercier
In 1991, Bernard Arnault married Hélène Mercier, a Canadian concert pianist, with whom he has three sons: Alexandre, Frédéric, and Jean.
1993
Arnault earns sobriquet 'a wolf in cashmere'
Bernard Arnault earned the nickname 'a wolf in cashmere' over the years for his aggressive acquisition strategies, including acquiring Givenchy, Guerlain, and Marc Jacobs.
1995
Revitalization of French Couture
In 1995, Bernard Arnault appointed John Galliano as the head designer at Christian Dior, marking a significant moment in the revitalization of French couture under his leadership.
1997
Arnault's Initial Ranking at $3.6 Billion
In 1997, Bernard Arnault was initially ranked with a net worth of $3.6 billion, marking the beginning of his journey towards becoming one of the wealthiest individuals in the world.
1998
Purchase of Château Cheval Blanc
In 1998, Arnault, along with businessman Albert Frère, bought Château Cheval Blanc in a personal capacity. LVMH later acquired Arnault's share in 2009 to add to the group's wine properties.
1999-01-06
LVMH Acquires 5% Stake in Gucci
On January 6, 1999, it was revealed that LVMH had purchased a 5 percent stake in Gucci. LVMH chairman Bernard Arnault claimed it was a passive investment with no intention of taking over Gucci.
1999-01-26
LVMH Increases Stake in Gucci to 34.4%
By January 26, 1999, LVMH had raised its stake in Gucci to 34.4 percent, showing a significant interest in the luxury fashion brand.
2003
Acquisition of Fendi
In 2003, Bernard Arnault acquired the Italian luxury fashion house Fendi, expanding his portfolio of luxury brands.
2005
LVMH's Net Income Rise
In 2005, LVMH experienced a significant increase in net income, rising by 80 percent compared to 2002. This rise in income contributed to Arnault's personal fortune exceeding $20 billion for the first time.
2006
Louis Vuitton Foundation Building Project
In 2006, Bernard Arnault initiated the construction of the Louis Vuitton Foundation, a building dedicated to creation and contemporary art, designed by architect Frank Gehry.
2007
Commander of the Legion of Honour
In 2007, Bernard Arnault was honored with the title of Commander of the Legion of Honour, one of France's most prestigious distinctions.
2008
Creation of Protectinvest Foundation
In 2008, Arnault established Protectinvest, a foundation aimed at safeguarding the integrity of the LVMH group until 2023, restricting his children's ability to sell shares in Pilinvest.
2010
Moynat Acquisition by Groupe Arnault
In 2010, Groupe Arnault, the holding company of LVMH's CEO Bernard Arnault, purchased Moynat, a 19th-century trunk-maker older than Louis Vuitton.
2011-03-07
Acquisition of Bulgari
On 7 March 2011, Bernard Arnault announced the acquisition of 50.4% of family-owned shares of the Italian jeweler Bulgari, with a transaction worth $5.2 billion.
2012
Arnault's Wealth Reaches $41 Billion
By 2012, Bernard Arnault's wealth remained stable at around $41 billion. He was recognized as the fourth richest person globally and the wealthiest individual in France during that year.
2013-04
Belgian Citizenship Request
In April 2013, Bernard Arnault revealed plans to seek Belgian citizenship but later retracted the application, emphasizing his commitment to France and the LVMH group's continuity.
2014-10-20
Louis Vuitton Foundation Grand Opening
The grand opening of the Louis Vuitton Foundation, located at Jardin d'Acclimatation Paris, took place on October 20, 2014.
2015
Sale of research vessel Amadeus
In late 2015, Bernard Arnault sold his 70m converted research vessel Amadeus.
2016
Arnault's Salary as LVMH CEO
In 2016, Bernard Arnault received a salary of €7.8 million for his role as the CEO of the LVMH group.
2017-04
Acquisition of Christian Dior
In April 2017, Bernard Arnault announced the acquisition of Christian Dior haute couture, leather, both men's and women's ready-to-wear, and footwear lines, integrating the entire Christian Dior brand within LVMH.
2018
Arnault's Wealth Surge in 2018
In 2018, Bernard Arnault experienced a significant increase in his net worth, reaching $72 billion. This surge in wealth propelled him to the fourth spot on the Forbes ranking, making him the world's fourth richest person and Europe's wealthiest individual.
2019-07
Arnault briefly surpasses Bill Gates in net worth
In July 2019, Bernard Arnault's net worth peaked at $107 billion, temporarily surpassing that of Bill Gates. This made him the second wealthiest person in the world for a brief period.
2019-11
Planned Acquisition of Tiffany & Co.
In November 2019, Bernard Arnault announced plans to acquire Tiffany & Co. for approximately US $16.2 billion.
2020-09
Cancellation and Resumption of Tiffany Acquisition
In September 2020, LVMH initially canceled the acquisition of Tiffany & Co. due to financial concerns during the pandemic. However, after legal disputes, a slightly reduced deal was agreed upon, and the purchase was completed in January 2021.
2020-10
Arnault's Acquisition of Tiffany
In October 2020, Bernard Arnault closed the acquisition deal of Tiffany to integrate it into LVMH, expanding his luxury group.
2021-08-05
Arnault Reclaims Title of Wealthiest Man
On August 5, 2021, Bernard Arnault regained the status of the wealthiest person globally, with a net worth of $198.4 billion, driven by surging luxury goods sales in Asia.
2022-05
Bernard Arnault loses $11 billion in a day
In May, Bernard Arnault faced a significant financial setback as he lost $11 billion in a single day due to a drop in LVMH shares.
2022-07
Bernard Arnault proposed a reorganization of his holding company Agache
In July 2022, Bernard Arnault suggested a reorganization of his holding company Agache to provide equal stakes to his five children who all work at LVMH.
2022-10
Sale of LVMH's private jet
In October 2022, Bernard Arnault announced that LVMH sold its private jet and he started renting private aircraft for personal and business flights instead, after a Twitter user tracked its flights. The aircraft was a Bombardier Global 7500 registered as F-GVMA.
2023-06-15
Billionaire Bernard Arnault’s Net Worth Fluctuations
Bernard Arnault's net worth has been experiencing fluctuations due to changing share prices, regional demand, and valuation methods. Recently, his fortune has even surpassed that of technology billionaires who have traditionally held top spots on global billionaire lists.
2024-02
Arnault's Wealth in 2024
As of February 2024, Bernard Arnault holds the position of the third-wealthiest person worldwide, with a net worth of approximately US$196 billion, nearly equivalent to Jeff Bezos.
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Bernard Arnault

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Bernard Arnault

French businessman, investor, and art collector.
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