World’s Wealthiest Folks

4. Bernard Arnault

French national Bernard Arnault is the chairman and CEO of LVMH, the world’s largest luxury goods company. This business owns some of the biggest brands on earth, including Louis Vuitton, Hennessey, Marc Jacobs, Sephora, and many more. The majority of his wealth, however, actually comes from his massive stake in Christian Dior SE, the holding company that controls 41.2% of LVMH. His shares in Christian Dior SE, plus an additional 6.2% in LVMH, are held through his family-owned holding company Group Arnault S.E.

• Age: 71
• Residence: Paris, France
• CEO and Chairman: LVMH (LVMUY)
• Net Worth: $109 billion
• Christian Dior Ownership Stake: 97.5% ($92.8 billion)
• Other Assets: Moelis & Company equity ($18.9 billion public asset), Hermès equity ($2.12 billion public asset), Carrefour equity ($1.30 billion public asset), and $4.50 billion in cash.

An engineer by training, Arnault’s business chops became apparent while working for his father’s construction firm, Ferret-Savinel, which he would take control of in 1971. He later converted Ferret-Savinel to a real estate company named Férinel Inc. in 1979.

Arnault remained Férinel’s chairman for another six years, until he acquired and reorganized luxury goods maker Financière Agache in 1984, eventually selling all of its holdings other than Christian Dior and Le Bon Marché.⁴⁶ He was invited to invest in LVMH in 1987 and became the majority shareholder, chairman of the board, and CEO of the company two years later.

Who Is Bernard Arnault?

Bernard Arnault is the founder, chairman, and CEO of luxury goods conglomerate LVMH, which owns about 70 luxury brands, including Louis Vuitton and Christian Dior.

Understanding Bernard Arnault

Bernard Arnault was born in 1949 and lives in Paris, France. Arnault ranks among the richest people in the world. According to the 2021 Bloomberg Billionaires Index, on Jan. 14, 2021, he had a real-time net worth of $113 billion and he sat in fourth place (under Bill Gates) as the richest person in the world.¹

LVMH is a French holding company, formed through a 1987 merger, that owns about 79 internationally recognized luxury good brands, including Louis Vuitton, Christian Dior, Sephora, Moët et Chandon, and Hennessy. The majority of LVMH’s brands fall into the categories of wine and spirits, fashion and leather goods, perfumes and cosmetics, and watches and jewelry.

In April 2017, Arnault bought out Christian Dior, consolidating control and simplifying the complex brand structure. This deal and record results at LVMH boosted his fortune by $30.5 billion. In the 1980s, Arnault originally took control of Dior’s parent company Financière Agache for $15 million, an investment of his father’s money earned in the construction business.²

Bernard Arnault, Patron of the Arts

An art lover and patron, Arnault is considered a tastemaker and has demonstrated his support for arts organizations and individual artists, both established and emerging, in many aspects.

In 2014, Arnault unveiled his $166 million Frank Gehry-designed museum for the Louis Vuitton Foundation in Paris’ Bois de Boulogne.³

Arnault frequently asks artists to design products for LVMH’s brands: Richard Prince and Takashi Murakami both made handbags for Louis Vuitton, and Jeff Koons designed a special edition package for Dom Perignon.

As an art collector, he is known for a collection of contemporary art, which includes work by Andy Warhol, Pablo Picasso, Henry Moore, and Yves Klein. Through his company, he created the LVMH Young Fashion Designer competition, a competition open to students from fine-arts schools all over the globe. The winner is awarded a grant to support the creation of a label and comes with a year of mentorship. Arnault owned Phillips de Pury & Company, an art auction house, from 1999 to 2003.

Arnault is married to Helene Mercier, a concert pianist, whom he is said to have wooed through their mutual love of classical music.⁴

Why is Bernard Arnault so rich?Arnault got rich through investing in luxury brand chains. Most of Arnault’s wealth comes from the 41% stake in LVMH he controls through his company Christian Dior.6 okt. 2020

What does Bernard Arnault do with his money?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 person in the world in December 2019.