BERNARD ARNAULT

Bernard Jean Etienne ARNAULT is a French businnesman and art collector. He is chairman and CEO of LVMH Moe’t Hennessy – Louis Vuitton SE, LVMH, the worid’s largest luxury goods manufacturer in April 2018, He beat ZARA owner Amancio Ortega. Bernard Arnault was born in Roubaix, France on March 5, 1949. His full name is BERNARD JEAN ETIENNE ARNAULT. Hi is the son of Jean Leon Arnault. His father was a manufacturer who owned the civil engeneering company, Ferret – Savinel. Bernard was educated at Maxence Van Der Meersch High Schooling, he continued his education at the prestigious Ecole polytechnique and graduated with a bachelor’s degree in engineering in 1971.

BERNARD ARNAULT BUSINNESS CAREER HISTORY

After  graduating from college he then joined his father;s company. He the began planning the expansion and growth of the company. In 1976, he managed to convince his father to liquidate the company’s contruction division and invest the proceeds in a more profitable businness. The Arnault family later received 40 million French from the liquidation of the contruction division. They invested the proceeds in the real estate business, whict at that time was a booming sector. Bernard Arnault became the company’s development director in 1974. In 1977 he was appointed CEO of the company. In 1979 he succeeded his father as president of the company. In 1981 Arnault and astute and successful businessman. He developed a cobdo in Palm Beach, Florida.

INVEST LVMH ( LOUIS VUITTON S.A )

In 1987 he invested in a jiont venture with Guinness PLC which owns 24 % of LVMH wiht 35% voting rights on the company’s board. He was unanimously elected as chairman of the executive management board. Bernard Arnault is known to have a formidable managerial style.

ACQUIRES DOTS OF LUXURY BRAND COMPANIES

A few years later, Bernard controlled several other companies during the 1990s, including the perfume companies Guerlain ( 1994 ), Loewe ( 1996 ), Marc Jacobs ( 1997 ), Sephora ( 1999 ), and Thomas Pink ( 1999 ). After being led by Bernard Arnault, LVMH has more than 70 subsidiaries. In November 2019, LVMH completed a massive $16.2 billion oppurtunity when it acquired the Tiffany & Co brand. Arnault’s LVMH recorded the company’s biggest revenue record of % 59 billionin 2018.

HOW MUCH IS BERNARD ARNAULT’S WEALTH ?

As of 2015 Bernard has a net worth of $37.5 billion. In 2019 his fortune grew by more than $31.4 billion, according to the Bloomberg Billionaires Index.

THIRD RICHEST PERSON  IN THE WORLD

In March 2019, Bernard Arnault overtook Warren Buffett as the third richest person in the world. A few months later he surpassed BILL GATE to become the second richest person in the world for a brief period before returning to third place with an estimated net worth of 97.7 billion US dollars. He is the richest man in Europe so far.

PERSONAL LIFE

Arnault married Anne Dewavrin in 1973 and they had two children before divorcing in 1990. Arnault then remarried Helene Mercier, a Canadian concert pianist in 1991. They live on the south of the Seine, France. Arnault has five children from his two wives. Namely two from his first wife and three from his current wife.

CARE ABOUT SOCIAL LIFE

Besides being known as the third richest person in the world, he is also known as a generous person and likes to donate some of his wealth to the social life a round him.

HIS WORLD PRESTIGIOUS AWARD

Known as a generous and noble-hearted person, he has won various bright awards that show his qualities of them.

1. Commandeur de la Legion d'honneur.

On February10, 2007. Bernard is considered to have given honor to his homeland by making Paris the mecca of world fashion.

2. Hnorary Knight Commander Of The Excellent Order Of the British Empire in 2012.

3. David Rockefeller Award from the Moseum of Modern Art.

In 2014, the award was given for his position as Chairman and CEO of LVMH- Louis Vuitton. 

THE OTHER SIDE of BERNARD ARNAULT

As a successful businessman, Arnault is also active as an art collector who supports creative activities in Paris. One of them is LVMH Young Fashion Designer as an international competition. This event is usually attended by students from all corners of fine arts schools in the world. ARNAULT provides 100%  funding to support the creation of independent product designs for the winners.

That’s a summary of the exposure of the world’s businessmen who are the third richest people in the world who are successful with their businnes. Apart from being successful in the businnes world, Arnault is also a philanthropist who has wosservel awards.