Bernard Arnault
Bernard Jean Étienne Arnault is a French billionaire businessman and art collector. He is the chairman and chief executive of LVMH Moët Hennessy – Louis Vuitton SE. In April 2018, he became the richest person in fashion, topping Zara’s Amancio Ortega. Arnault briefly surpassed Jeff Bezos to become the richest people in the world in December 2019 and again in January 2020.
About Bernard Arnault in brief
Bernard Jean Étienne Arnault is a French billionaire businessman and art collector. He is the chairman and chief executive of LVMH Moët Hennessy – Louis Vuitton SE, the world’s largest luxury-goods company. In April 2018, he became the richest person in fashion, topping Zara’s Amancio Ortega. Arnault briefly surpassed Jeff Bezos to become the richest people in the world in December 2019, and again in January 2020. He was born on 5 March 1949, in Roubaix, France. He began his career in 1971, working for Ferret-Savinel, a company owned by his father, and was its president from 1978 to 1984. In 1984, with the help of Antoine Bernheim, a senior partner of Lazard Frères, Arnault acquired the Financière Agache, a luxury goods company.
He sold nearly all the company’s assets, keeping only the Christian Dior brand and Le Bon Marché department store. In January 1989, he spent another USD 500 million to gain control of a total of 43. 5% of L VMH’s shares and 35% of its voting rights, thus reaching the \”blocking minority\” that he needed to stop the dismantlement of the group. In July 1988, he provided USD 1. 5 billion to form a holding company with Guinness that held 24% of the LVMh’s shares. Since then, Arnaults has led the company through an ambitious development plan, transforming it into one of the largest luxury groups in theworld, alongside Swiss luxury giant Richemont.
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This page is based on the article Bernard Arnault published in Wikipedia (as of Dec. 09, 2020) and was automatically summarized using artificial intelligence.
