Who is the richest man in the world, Bernard Arnault? learn every detail about the LVMH CEO.
Business

Who is the richest man in the world, Bernard Arnault? learn every detail about the LVMH CEO.

With a net worth of $188.6 billion and $171 billion, respectively, the 73-year-old tops both the Forbes and Bloomberg Billionaires rich lists. The French tycoon has stayed in the top ten of the list of the world’s richest people in recent years, but he was rated below Mark Zuckerberg and Jeff Bezos, the founders of Amazon and Meta, respectively.

Following Elon Musk’s Tesla shares’ dramatic Monday decline, Louis Vuitton CEO Bernard Arnault has now surpassed Musk as the richest person in the world. With a net worth of $188.6 billion and $171 billion, respectively, the 73-year-old tops both the Forbes and Bloomberg Billionaires rich list. The French tycoon has stayed in the top ten of the list of the world’s richest people in recent years, but he was rated below Mark Zuckerberg and Jeff Bezos, the founders of Amazon and Meta, respectively.

1) Bernard Arnault is the Chairman and CEO of LVMH Moet Hennessy, Louis Vuitton, the world’s largest luxury goods firm. He was born on March 5, 1949, into an industrial family in Roubaix, France. The 73-year-old is reputed to keep a quiet profile in comparison to his predecessor, Elon Musk.

2) Bernard Arnault received his diploma from the esteemed École Polytechnique. Before relocating to the United States in 1981 to pursue a career in real estate development, he worked at the family firm, Ferret Savinel.

3) Arnault relocated to France in 1984 and acquired Boussac Saint-Freres, the insolvent textile company that owned Christian Dior. Later, according to Bloomberg, he separated the majority of the firm’s other operations and used the money to buy a majority position in LVMH, which had combined its two principal brands, Louis Vuitton and Moet Hennessy.

4) Arnault developed LVMH into a global luxury juggernaut by opening more than 5,500 stores and selling Champagne, wine, spirits, fashion, leather goods, watches, jewellery, hotel stays, perfume, and cosmetics.

5) The 2014 founding of the Louis Vuitton Foundation in Paris’s Bois de Boulogne was made possible by Arnault’s interest in collecting art. The building, which is a sizable private art museum, was built by Frank Gehry. It houses both Arnault’s and LVMH’s corporate collection.

6) Earlier this year, LVMH removed the cap on the CEO’s age, allowing Arnault to serve as CEO until the age of 80, signalling that he plans to hold the position for an even longer time.

7) The 73-year-old has consistently ranked high in wealth lists, although he rarely appears in public and is not active on social media.

8) According to estimates from Bloomberg’s wealth index, the majority of Arnault’s wealth comes from his 97.5% ownership of Christian Dior, which holds about 41% of LVMH. An extra 6% of LVMH is owned by the family.

9) As of December 2022, Arnault and his family were estimated to be valued $188.6 billion by Forbes.

10) Out of his two marriages, he has five children, all of whom work for LVMH or one of its brands. The parent company Christian Dior SE recently promoted Antoine Arnault, Arnault’s second child.

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