Let’s know about Bernard Arnault Net Worth. Bernard Arnault entered the luxury goods market in the year 1984. He had acquired a textile group, which was also owned by Christian Dior.
Amazon chief Jeff Bezos was stripped of the world’s number one rich chair last week. According to the Forbes Realtime Billionaire List, France’s Bernard Arnault is currently the richest person in the world. According to Forbes, the net worth of Bernard Arnault and family is currently $ 197.7 billion. On the other hand, Jeff Bezos is second with $ 192.7 billion and Elon Musk is at number three with a net worth of $ 183.6 billion. Bernard Arnault reached the number one position three times in December 2019, January 2020 and May 2021, but was stripped of the title shortly after.
Joined the $100 billion net worth club in the year 2019
Bernard Arnault joined the $100 billion net worth club in the year 2019. At that time he was the third richest person in the world to join this club. Earlier, Amazon’s Jeff Bezos and Microsoft’s Bill Gates were only in this club. Arnault is the CEO of LVMH Moët Hennessy, the world’s largest luxury goods company. Arnault and his family hold 47.5 per cent stake in LVMH. The luxury house owns over 70 brands, including Louis Vuitton, Christian Dior, Fendi, Moët & Chandon, Hennessy, Sephora and Veuve Clicquot. Bernard holds a 96.5 percent stake in Christian Dior.
Started business in 1984
Bernard Arnault entered the luxury goods market in 1984. He had acquired a textile group, which was also owned by Christian Dior. Four years later, he sold the company’s other businesses and bought a controlling stake in LVMH. His art collection includes modern and contemporary paintings, including paintings by Picasso and Warhol.
bought Tiffany & Co.
Earlier in January this year, Bernard Arnault’s LVMH bought American jewelry company Tiffany & Co for $15.8 billion. This deal to acquire the luxury brand is said to be the biggest deal ever. Tiffany’s was started in New York in 1837. The blue box used in the packing of Tiffany’s products is its special identity.
Known as ‘The Terminator’
In 1985, Arnault bought Bussock, a bankrupt textile company, from the French government. Within two years, he fired 9,000 employees. He then sold off most of the group’s assets, except the Dior brand. After this Arnault came to be called ‘The Terminator’. However, he focused his attention only on the fashion segment.