What is Bernard Arnault's Net Worth?
Bernard Arnault is a French billionaire entrepreneur with a staggering net worth of $202 billion. As the chairman and chief executive of LVMH, the world’s largest luxury goods company, Bernard has secured his position among the richest people in the world, alongside other business titans such as Elon Musk, Jeff Bezos, and Bill Gates. Historically, Bernard briefly surpassed Elon Musk in December 2022 to claim the title of the world's richest person. By April 2023, driven by LVMH's rising stock, his net worth exceeded $200 billion, making him only the third person to reach this milestone without inflation adjustments.
Wealth Details
Arnault’s fortune largely comes from his role as CEO of LVMH. In the 1980s, he strategically acquired Christian Dior from bankruptcy and leveraged its value to build a conglomerate of luxury brands, including Louis Vuitton, Moët, Hennessy (hence "LVMH"), Marc Jacobs, Givenchy, Tag Heuer, Bulgari, and Tiffany & Co. Today, LVMH oversees around 60 brands and generates $70 billion in annual revenue with a market cap of $384 billion.
The Arnault family owns 97% of Dior directly, which in turn holds 41% of LVMH. Additionally, the family separately owns an additional 7% of LVMH, giving them more than 50% of the total voting rights.
Outside LVMH, Bernard owns two French wineries, Princess Yachts, 5% of Carrefour (France's largest supermarket chain), and a valuable art collection featuring works by Picasso and Warhol.
In June 2019, Bernard's net worth exceeded $100 billion for the first time, making him the third-richest person globally. By July, he reached $108 billion, surpassing Bill Gates as the second-richest individual. In December 2022, Bernard became the richest person on the planet, with his $171 billion net worth surpassing Elon Musk's $168 billion.
Bernard Arnault (Photo by Pascal Le Segretain/Getty Images)
Early Life
Bernard Jean Étienne Arnault was born on March 5, 1949, in Roubaix, France. His father, Jean Léon Arnault, a manufacturer, and graduate of École Centrale Paris, and his mother, Marie-Josèphe Savinel, were integral to his early life. The Ferret-Savinel company, where Bernard’s career began, was originally owned by his maternal grandfather and later managed and owned by his father. Bernard graduated from the prestigious École Polytechnique in 1971.
Family Business
After graduating in 1971, Bernard joined his father’s company, Ferret-Savinel. He became president in 1978 and held the position until 1984, focusing the company on real estate, which proved to be a profitable pivot.
Luxury Goods
In 1984, with the aid of Antoine Bernheim, Bernard acquired the luxury goods company Financiere Agache. As its CEO, he also took over Boussac Saint-Freres out of bankruptcy, a company owning brands like Christian Dior and Le Bon Marche. He sold all assets except Dior and Le Bon Marche, ensuring the family retained 97% ownership of Dior.
GUILLAUME SOUVANT/AFP/Getty Images
LVMH
Using Dior's increased value, Bernard went on a luxury brand acquisition spree. In 1987, he established LVMH to merge luxury houses Louis Vuitton and Moët Hennessy. By 1988, he managed to secure 24% of LVMH’s shares through strategic acquisitions and negotiations. By January 1989, he controlled 43.5% of LVMH’s shares, using this dominance to steer the company through a transformation that has made it a leading global luxury group. Under his leadership, LVMH saw sales and profits grow exponentially, along with significant market value increases. Some notable brands under the LVMH umbrella include Céline, Berluti, Kenzo, Guerlain, Loewe, Marc Jacobs, Sephora, Thomas Pink, Emilio Pucci, and Fendi.
(Photo by NICHOLAS KAMM/AFP via Getty Images)
Other Investments
Apart from LVMH, Bernard has diversified investments. Between 1998 and 2001, he invested in several web companies through Europatweb. Through Groupe Arnault, he invested in Netflix in 1999 and, along with Colony Capital, acquired a 10.69% stake in Carrefour. He also ventured into the yacht industry, acquiring Princess Yachts and Royal van Lent in 2008.
Art Collection
Aside from his business ventures, Bernard is an avid art collector. He has sponsored several artistic exhibitions featuring global artists like Pablo Picasso and Andy Warhol through LVMH.
Personal Life
Bernard married Anne Dewavrin in 1973, with whom he shares two children. They separated in 1990. He then married Canadian concert pianist Hélène Mercier later in 1990, with whom he has three children. The Arnault family pledged €200 million towards the restoration of the Notre Dame Cathedral following the devasting fire in 2019.
