Arnault is a French entrepreneur, investor, industrialist, and Art collector who also serves as the Chairman and CEO of the luxury goods firm LVMH and gathers 75 brands with 44.7 billion euros revenue in 2020.
He is the world’s third-richest person. He opened 5003 stores globally and 75 houses with 150000 employees.
Arnault Bernard’s net worth is $173 billion, according to the Bloomberg Billionaires index on November 17, 2021.
Jean Léon Arnault and Marie-Josèphe Savinel are parents of Arnault Arnault and Dominique Watine-Arnault . 5 March 1949; Arnault Arnault was born . His present age is 70, and he became chairman and CEO of Moet Hennessy Louis Vuitton, and his brother Dominique Watine-Arnault was born in 1951 and died in 2006 at age 55 approx.
Jean Léon Arnault died at the age of 90 on January 21, 2010. Marie-Josèphe died at the age of 85 on November 1, 2005.
He married Anne Dewavrin in 1973, and they had two daughters, Delphine and Antoine. They divorced in 1990.
He married Helene Mercier, a Canadian concert pianist, in 1991, and they have three children: Alexandre, Frédéric, and Jean.
Arnault Arnault and Hélène Mercier live in Paris at the moment. Delphine, Antoine, Alexandre, Frederic, four of his five children, and his niece Stephanie Watine Arnault all have formal responsibilities in brands managed by Arnault.
Delphine Arnault, Arnault’s daughter, has been the partner of Xavier Niel, a French billionaire businessman involved in the telecommunications and technology industries, since 2010.
In 1971 Arnault became involved in his father’s construction firm after graduating from college, and at the age of 25, he became chairman of his father’s company Ferret-Savinel.
He wants to start another firm that will be more profitable. He also changed the company name to Ferinel Inc.
He convinced his father to sell the construction company and invest in other businesses. As a consequence of their real estate investments, the family became exceedingly wealthy.
From 1978 until 1984, he served as President of Ferret-Savinel.
In 1984, Arnault, a young land developer, found that the French government was near to select someone to require over the Boussac Saint-Frères company, which controlled Dior.
The brand was famous in France; however, a driver knew Christian Dior but did not know his President’s name. That clicks a businessman, Arnault’s mind.
Financière Agache, a luxury goods firm, was bought with the help of Antoine Bernheim, a senior partner of Lazard Frères. Arnault contributed $15 million of his own money. Arnault became CEO of Financière Agache and won the bid battle for Boussac Saint-Frères, thus taking control of the company.
Boussac’s holdings included the department store Le Bon Marché, the retail outlet Conforama, the diaper producer Peaudouce, and Christian Dior.
Arnault fired over 9,000 people in two years, earning him the nickname “The Terminator.”
Following that, he liquidated all of the company’s assets, retaining just the Christian Dior brand and the Le Bon Marché department store.
Arnault was able to bring Financière Agache back to health due to changes. By 1987, the corporation got profitability of $112 million on a $1.9 billion sales stream.
In July 1988, Guinness and Arnault formed a holding company for $1.5 billion. They accounted for 24 percent of LVMH’s stock.
In reaction to speculations that the Louis Vuitton group was buying LVMH shares to establish a “minority when shareholders or minority shareholders block a meeting resolution by voting,” Arnault paid $600 million to purchase 13.5 percent more of LVMH, making himself the company’s largest stakeholder.
The Arnalds’ strategies are not the same as the President of Louis Vuitton, Henry Racamier.
Arnold spent $500 million to acquire more shares in his firm, and then he owns 43.5 percent of the corporation. He wishes to complete or minimize the dismantlement of the firm.
Arnault expelled Racamie from his position on the board of directors. On January 13, 1989, Arnold was appointed as chairman of the executive management board.
Arnault, as CEO, will pursue his company’s expansion goals and turn it into the world’s largest luxury conglomerate. His profit increased, as did the value of LVMH.
Guerlain, a perfume company, was purchased by LVMH in 1994. Arnold purchased Louie in 1996. Marc Jacobs and Sephora in 1997.
In 2019, Fendi, DKNY, and La Samaritaine joined the group, joining Thomas Pink in 1999, Emilio Pucci in 2000, Fendi, DKNY, and La Samaritaine in 2001.
The LVMH chose Christian de Portsm Parkis for the building center. The outcome was the LVMH Tower, which opened in December 1999. Tom Ford and Domenico De Sole oversee the GUCCI fashion company. Arnold wants to grab it, so he invests in their firm and becomes a shareholder.
De Sole also offered to quit acquiring GUCCI shares in exchange for board representation, but he refused, thus the conflict ended in 2001, and LVMH made a $700 million profit and sold his shares.
Arnault announced the acquisition on March 7, 2011.
To launch a tender bid for the remaining publicly owned shares of the Italian jeweler Bulgari, the family held 50.4 percent of the shares.
The investment was valued at $5.2 billion. Arnault invested $640 million in the establishment of LCapitalAsia in 2011. On March 7, 2013, National Business Daily stated that QDA, a mid-priced clothing brand, will open stores in Beijing with the help of Arnault’s private equity business LCapitalAsia and Chinese garment manufacturer Xin Hee Co., Ltd. Arnault formed a joint venture with the Italian fashion designer Marco De Vincenzo in February 2014, buying a minority 45 percent ownership in the company.
In January 2018, the company under the supervision of Arnault made 42.6 billion.
In November of next year, Arnault plans to purchase Tiffany & Co.
Plans to acquire roughly US 16.2 billion, then stated in September 2020 stating that the takeover would not take place and that the agreement was due to handle Tiffany’s business during the COVID-19 disease.”
Tiffany then filed a lawsuit against LVMH, requesting that the court compel the purchase or estimate the defendant’s damages.
LVMH intends to sue, claiming that mismanagement renders the purchase agreement null and void.
LVMH purchased Tiffany in January 2021.
Due to the new agreement, Tiffany’s share price was reduced from $135 to $131.50 t. LVMH bought Tiffany in January 2021.
He grows his business and makes it more unique and distinct. LVMH products are of the highest quality, and Arnolt personally visits the factories where they are made.
He also welcomes feedback from customers, and his products are in high demand year after year. On May 24, 2021, Arnalult’s net worth was 187.3 billion dollars.
For a brief moment, he surpassed Jeff Bezos as the world’s richest person.
However, Amazon’s stock rose after a few hours, and Jeff Bezos reclaimed his title as the world’s most affluent man.
In 1999, Arnold made investments in websites such as Boo.com, Libertysurf, Zebank, and Netflix.
In 2008, Arnault was a member of the Malaysian 1MDB fund’s Board of Advisors. He paid 253 million euros for Princess Yachts. He also spent about the same amount for Royal van Lent.
Because of Arnault’s efforts, LVMH now has a significant impact on the arts. By profession, Arnault is an art collector. LVMH is his company’s name, and he founded it.
The LVMH Young Fashion Designer competition was established as an international contest for art schools.
The winner is given a stipend and a one-year sponsorship to launch their label each year. In 2006, he decided to pursue modern art, and his debut show took place on October 20, 2014.
In April 1999, he surpassed Zara’s Amancio Ortega as the wealthiest person in fashion.
Arnault became the world’s second-richest man in July 2019, with a net worth of 103 billion dollars.
Arnault momentarily overcame Jeff Bezos to become the world’s richest person in December 2019 and again for a short time in January 2020.
During the COVID-19 crisis, Arnault’s fortune shrank by $30 billion as sales of luxury products fell.
On August 5, 2021, he recovered the title of the world’s wealthiest man, with a net worth of $198.4 billion.
It occurred when LVMH’s luxury goods sales increased in China and other regions of Asia. Forbes values his worth at $181 billion.
Arnault owned the 70-meter-long (230-foot-long) converted research vessel Amadeus, which he sold in late 2015. Symphony, his current 101.5 m (333 ft) yacht, was built in the Netherlands by Feadship.
According to the LVMH report 2020, LVMH generated 34% of revenue from the Rest of Asia, and most negligible revenue is generated through his homeland(France).
Fashion and Leather goods revenue is about 47%, and just 7% revenue is generated through watches and Jewellery as shown in the above picture.
They make profit from Wines & Spirits €1388 million, Fashion & Leather goods €7188 million, Perfume &Cosmetics €80million, Watches & Jewelry €302million, Selective retailing € (203)million Other and elimination € (450)million.
Total LVMH 2020 profit from these sources was € 8305 million. Also, show their Net Financial Debt and Free cash flow.
Arnault received the following Awards,
- Commandant of the Légion d’Honneur (10 February 2007)
- Grand Officer of the Légion d’Honneur (July 14, 2011)
- The Woodrow Wilson Award for Corporate Global Citizenship in (2011)
- Knight Commander of the Most Excellent Order of the British Empire, honorary (2012)
- The David Rockefeller Award from the Museum of Modern Art (March 2014)
Napoleon Bonaparte established it in 1802, and it has been preserved (and somewhat modified) by all subsequent French administrations and régimes. The order’s motto is (“Honour and Fatherland”).
Arnault was on the Board of Advisors of the Malaysian 1MDB fund from 2010 to 2013.
1MDB was intended to foster long-term economic development plans for the government by creating global relationships and attracting foreign direct investment. Berhad is a Malay word for a public limited corporation.
1MDB prioritizes strategic development projects in the energy, real estate, tourism, and agricultural sectors.
1MDB was involved in several high-profile systems, including the Tun Razak Exchange, Bandar Malaysia, and the accession of three independent power providers.
Arnault intends to apply for Belgian citizenship and plans to move to Belgium in 2013.
Arnault stated in April 2013 that Arnault intends to apply for Belgian citizenship and plans to move to Belgium in 2013.
Arnault stated in April 2013 that he would never leave France. He said, “I am a French resident who lives here and pays taxes.”
Then he decided to withdraw his application for Belgian nationality. I wish to secure the foundation better if I pass away, preserving the LVMH group’s continuation and integrity.
When the French govt was confronted with economic and social problems, Several employees tried to leave France for tax reasons.
Still, Arnault turned them down, arguing that “the 75 percent tax would not collect a lot of income but should be less contentious.”