The life and career of Bernard Arnault, the luxury-goods mogul who owns brands like Louis Vuitton — and whose wealth is surpassed only by Jeff Bezos and Elon Musk

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Katie Warren,Avery HartmansAug 1, 2022, 22:18 IST
The life and career of Bernard Arnault, the luxury-goods mogul who owns brands like Louis Vuitton — and whose wealth is surpassed only by Jeff Bezos and Elon Musk

Bernard Arnault, CEO of luxury-goods conglomerate LVMH.Nicholas Kamm/Getty Images

  • Bernard Arnault is the world's third-richest person, with a net worth of $137 billion.
  • Arnault controls the massive luxury conglomerate LVMH Moët Hennessy - Louis Vuitton.

When it comes to the world of luxury goods, perhaps no one is more successful than Bernard Arnault.

Arnault, the 72-year-old CEO of French luxury conglomerate LVMH Moët Hennessy - Louis Vuitton, has built his fortune over the span of almost four decades, amassing a luxury-goods empire that includes some of the best-known names in fashion, jewelry, and alcohol, including Louis Vuitton, TAG Heuer, and Dom Pérignon.

Along the way, Arnault has brought four of his five adult children into the fold, building a family-run business that has resulted in the world's third-largest fortune.

Here's how Arnault got his start and became one of the richest people in the world.

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The 73-year-old French businessman is the chairman and CEO of LVMH Moët Hennessy - Louis Vuitton, known as LVMH. Arnault owns a 97.5% stake in Christian Dior, which controls 41.2% of LVMH.

The 73-year-old French businessman is the chairman and CEO of LVMH Moët Hennessy - Louis Vuitton, known as LVMH. Arnault owns a 97.5% stake in Christian Dior, which controls 41.2% of LVMH.
Getty Images

Source: Bloomberg

Arnault comes from the northern French town of Roubaix.

Arnault comes from the northern French town of Roubaix.
Students from École Polytechnique, where Arnault went to school.Thibault Camus/AP

He studied engineering at one of France's most prestigious schools, the École Polytechnique. After graduating, Arnault went to work for his father's construction company, Ferret-Savinel.

Source: Bloomberg, Insider

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In 1984, Arnault acquired an ailing company called Agache-Willot-Boussac.

In 1984, Arnault acquired an ailing company called Agache-Willot-Boussac.
LVMH vice president Alain Chevalier and Bernard Arnault, then CEO of Financière Agache, at an event in Paris in 1988.Getty Images

Agache-Willot-Boussac owned brands like French department store Bon Marché and the fashion house Christian Dior.

He renamed the firm Financière Agache and initiated a turnaround, cutting costs and selling off some of its businesses.

Source: Bloomberg

Soon after, he bought fashion house Celine and funded the French designer Christian Lacroix.

Soon after, he bought fashion house Celine and funded the French designer Christian Lacroix.
Claudio Lavenia/Getty Images

Source: The New York Times

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In the late 1980s, Arnault said his goal was to run the world's largest luxury company within the following decade.

In the late 1980s, Arnault said his goal was to run the world's largest luxury company within the following decade.
Bernard Arnault circa 1980.Michel SETBOUN/Gamma-Rapho via Getty Images

He then set his sights on LVMH Moët Hennessy - Louis Vuitton, spending $2.6 billion buying up shares in order to become the company's largest shareholder, and eventually its chairman and CEO, by 1989.

Source: The New York Times

Arnault married Anne Dewavrin in 1973, and they had two children together before separating in 1990. Arnault remarried in 1991, to Hélène Mercier, a Canadian concert pianist.

Arnault married Anne Dewavrin in 1973, and they had two children together before separating in 1990. Arnault remarried in 1991, to Hélène Mercier, a Canadian concert pianist.
Hélène Mercier, left, and Bernard Arnault.Reuters

Source: Financial Times, Forbes

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He reportedly wooed her by playing Chopin and other classical composers.

He reportedly wooed her by playing Chopin and other classical composers.
Arnault at his home in 2000.Laurent VAN DER STOCKT/Gamma-Rapho via Getty Images

Source: Forbes

Like many of his fellow billionaires, Arnault lives a lavish life.

Like many of his fellow billionaires, Arnault lives a lavish life.
Bernard Arnault on board his private jet between Beijing and Shanghai.Marc DEVILLE/Gamma-Rapho via Getty Images

He travels by private jet, owns a sprawling vacation villa in glitzy Saint-Tropez on the French Riviera, and reportedly has also spent at least $96.4 million on residential properties in the Los Angeles area: in Beverly Hills, and in the Trousdale Estates and Hollywood Hills neighborhoods.

Source: Telegraph, The Real Deal

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The French billionaire and his wife live on Paris's Left Bank, south of the Seine River, a historic area that includes neighborhoods such as the Latin Quarter and St. Germain-des-Prés.

The French billionaire and his wife live on Paris's Left Bank, south of the Seine River, a historic area that includes neighborhoods such as the Latin Quarter and St. Germain-des-Prés.
Restaurants in the Latin Quarter in Paris.Gary Yeowell/Getty Images

Source: Bloomberg, The New York Times

In their home, Arnault keeps a collection of modern and contemporary art from artists that include Jean-Michel Basquiat, Damien Hirst, Maurizio Cattelan, Andy Warhol, and Pablo Picasso.

In their home, Arnault keeps a collection of modern and contemporary art from artists that include Jean-Michel Basquiat, Damien Hirst, Maurizio Cattelan, Andy Warhol, and Pablo Picasso.
Art handlers hang "Tete De Femme" by Pablo Picasso, up for auction at Sotheby's on January 28, 2016, in London, England.Ben Pruchnie/Getty Images

Source: Bloomberg

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Arnault has five children: two with his first wife and three with his current wife.

Arnault has five children: two with his first wife and three with his current wife.
From left: Alexandre, Frédéric, and Jean Arnault, Helene Mercier, and Bernard, Delphine, and Antoine Arnault.DENIS CHARLET/AFP via Getty Images

Antoine and Delphine Arnault are his two children from his first marriage.

His youngest three — Alexandre, Frédéric, and Jean — are from his second marriage, to Mercier.

Source: The New York Times

Delphine, Arnault's oldest daughter, is the apparent heiress to the LVMH empire.

Delphine, Arnault's oldest daughter, is the apparent heiress to the LVMH empire.
Getty Images

She started her career at American consultancy firm McKinsey & Co. in Paris and is now the executive vice president at Louis Vuitton.

In January 2019, Delphine became the youngest member of LVMH's executive committee at age 43.

Source: Business of Fashion, The New York Times, MDS

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Delphine married Italian wine heir Alessandro Vallarino Gancia in 2005 in what Forbes called at the time "France's wedding of the year." The couple divorced in 2010.

Delphine married Italian wine heir Alessandro Vallarino Gancia in 2005 in what Forbes called at the time "France's wedding of the year." The couple divorced in 2010.
Delphine Arnault and Alessandro Vallarino Gancia.DERRICK CEYRAC/AFP/Getty Images

She now reportedly lives with tech billionaire Xavier Niel and has one daughter.

Delphine is notoriously private about her personal life. In a 2014 interview with the Financial Times, she said, "I'm quite discreet. I think I'd rather focus on my work."

Source: Forbes, Insider, Financial Times

Delphine's younger brother Antoine is chief executive of menswear label Berluti and chair of the cashmere label Loro Piana, both LVMH brands.

Delphine's younger brother Antoine is chief executive of menswear label Berluti and chair of the cashmere label Loro Piana, both LVMH brands.
Antoine Arnault in 2020.Christophe Ena/AP

In addition to those roles, Antoine was named head of communications and image for LVMH in June 2018.

Source: The New York Times, Business of Fashion

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He's married to supermodel Natalia Vodianova, whom he reportedly met on a shoot for a 2008 Louis ­Vuitton campaign when he was the brand's head of communications.

He's married to supermodel Natalia Vodianova, whom he reportedly met on a shoot for a 2008 Louis ­Vuitton campaign when he was the brand's head of communications.
Antoine Arnault and Natalia Vodianova.Vianney Le Caer/Invision/AP

The couple lives in Paris with their two children and Vodianova's three children from a previous marriage.

Source: W Magazine

Alexandre, the son of Bernard Arnault and Mercier, is an executive at Tiffany & Co.

Alexandre, the son of Bernard Arnault and Mercier, is an executive at Tiffany & Co.
Alexandre Arnault in 2018.REUTERS/Benoit Tessier

LVMH acquired Tiffany & Co. in 2021, after which Alexandre became the company's executive vice president of product and communications.

Prior to moving over to Tiffany, Alexandre was the CEO of Rimowa, a German luggage brand owned by LVMH.

Alexandre is longtime friends with Evan Spiegel, the chief executive of Snap. Spiegel told The New York Times that Alexandre is "a really creative guy" and that "he's constantly thinking about the brand and how to express that."

Source: The New York Times, Insider

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Alexandre's younger brother Frédéric is the CEO of TAG Heuer.

Alexandre's younger brother Frédéric is the CEO of TAG Heuer.
Bernard Arnault and his son Frédéric Arnault in June 2018.Reuters

Frédéric joined LVMH as the temporary head of connected technologies at TAG Heuer in 2017. A year later, he became strategy and digital director at the Swiss watch company, LVMH's largest watch brand. In 2020, Frédéric was named TAG Heuer's CEO.

Frédéric graduated from his father's alma mater, École Polytechnique in Paris, and interned at Facebook and consulting firm McKinsey before joining LVMH.

Source: The New York Times

Arnault's youngest son, Jean, joined the family business in 2021.

Arnault's youngest son, Jean, joined the family business in 2021.
Jean Arnault, front left, with his brother Frederic, center, and father, Bernard.Rindoff Petroff/Hekimian/Getty Images

Jean Arnault became marketing and product director in Louis Vuitton's watch division in August 2021.

Jean, who was 23 at the time, has a master's degree in financial mathematics from Massachusetts Institute of Technology, as well as a master's in mechanical engineering from Imperial College London, WWD reported.

According to his LinkedIn profile, he interned at Morgan Stanley and McLaren Racing and worked in a Louis Vuitton retail store before joining the company full-time.

Source: WWD

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Arnault has rubbed shoulders with some of the planet's most influential figures, in the fashion world and otherwise.

Arnault has rubbed shoulders with some of the planet's most influential figures, in the fashion world and otherwise.
From left: John Galliano, then-creative director of Dior; British fashion magazine editor Liz Tilberis; Diana, Princess of Wales; Helene Mercier, and Bernard Arnault in 1996.Getty Images

In 2017, Arnault met President-elect Donald Trump at Trump Tower in New York City, right before Trump's inauguration, to discuss expanding LVMH factories in the US.

In 2017, Arnault met President-elect Donald Trump at Trump Tower in New York City, right before Trump's inauguration, to discuss expanding LVMH factories in the US.
NICHOLAS KAMM/AFP via Getty Images

The company opened a new 100,000-square-foot Louis Vuitton factory in Texas in 2019, the company's third factory in the US. Trump attended a ribbon-cutting ceremony for the factory.

Source: WWD, The Cut

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Arnault was reportedly friends with Apple founder Steve Jobs.

Arnault was reportedly friends with Apple founder Steve Jobs.
Justin Sullivan/Getty Images

Jobs once said to Arnault: "You know, Bernard, I don't know if in 50 years my iPhone will still be a success but I can tell you, I'm sure everybody will still drink your Dom Pérignon."

Source: CNBC

Former Goldman Sachs chief executive Lloyd Blankfein once called Arnault "a complete visionary," adding that he "saw the increase of wealth in the world."

Former Goldman Sachs chief executive Lloyd Blankfein once called Arnault "a complete visionary," adding that he "saw the increase of wealth in the world."
Chip Somodevilla/Getty Images

Source: CNBC

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Arnault is reportedly longtime friends with former French president Nicolas Sarkozy and was a witness at Sarkozy's wedding to singer and model Carla Bruni.

Arnault is reportedly longtime friends with former French president Nicolas Sarkozy and was a witness at Sarkozy's wedding to singer and model Carla Bruni.
Bernard Arnault And Nicolas Sarkozy in 1994.Getty Images

Source: The New York Times

Here, Arnault can be seen shaking hands with Vladimir Putin during the Russian president's 2003 visit to the Château Cheval Blanc vineyard in France, which LVMH owns.

Here, Arnault can be seen shaking hands with Vladimir Putin during the Russian president's 2003 visit to the Château Cheval Blanc vineyard in France, which LVMH owns.
Russian president Vladimir Putin visits the Château Cheval Blanc on February 12, 2003.Getty Images

Source: LVMH

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Arnault considered the legendary designer and Chanel creative director Karl Lagerfeld a good friend.

Arnault considered the legendary designer and Chanel creative director Karl Lagerfeld a good friend.
Karl Lagerfeld and Bernard Arnault in Paris in 2005.Bertrand Rindoff Petroff/Getty Images

"The death of this dear friend deeply saddens me, my wife and my children," Arnault said in a statement upon Lagerfeld's death in 2019. "We loved and admired him deeply. Fashion and culture has lost a great inspiration."

Source: LVMH

But Arnault also has a longstanding public rivalry: with François Pinault, the founder of luxury group Kering, who's worth about $37 billion.

But Arnault also has a longstanding public rivalry: with François Pinault, the founder of luxury group Kering, who's worth about $37 billion.
Kevin Dietsch/Getty Images

Kering owns brands including Gucci and Yves St. Laurent. The billionaire also owns Christie's auction house.

LVMH originally tried to acquire a majority stake in Gucci in 1999, but Pinault ultimately snatched up the brand.

Source: Bloomberg, Forbes

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Over the years, Arnault has built LVMH into the largest luxury conglomerate in the world and earned himself an imposing nickname: "the wolf in the cashmere coat."

Over the years, Arnault has built LVMH into the largest luxury conglomerate in the world and earned himself an imposing nickname: "the wolf in the cashmere coat."
Reuters

Source: The New York Times

He's behind the creation of Foundation Louis Vuitton, a Frank Gehry-designed contemporary art museum and performance space in Paris that opened in 2014.

He's behind the creation of Foundation Louis Vuitton, a Frank Gehry-designed contemporary art museum and performance space in Paris that opened in 2014.
Arnault and Mercier at Foundation Louis Vuitton.REUTERS/Alain Jocard/Pool

Source: The New York Times

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In April 2019, LVMH released a statement on behalf of the Arnault family, pledging 200 million euros, or about $218.8 million, to help rebuild the Notre-Dame Cathedral, which was heavily damaged in a 2019 fire.

In April 2019, LVMH released a statement on behalf of the Arnault family, pledging 200 million euros, or about $218.8 million, to help rebuild the Notre-Dame Cathedral, which was heavily damaged in a 2019 fire.
Smoke billows as fire engulfs the spire of Notre-Dame Cathedral in Paris, France, in April 2019.REUTERS/Benoit Tessier

Source: Le Figaro

In October 2020, Arnault's company bought Tiffany & Co. for $15.8 billion in the luxury sector's biggest-ever deal. The contentious sale involved multiple lawsuits and a $400 million price drop.

In October 2020, Arnault's company bought Tiffany & Co. for $15.8 billion in the luxury sector's biggest-ever deal. The contentious sale involved multiple lawsuits and a $400 million price drop.
AP Images/Paul Sakuma

Source: Insider

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When it comes to finances, the past few years have been a roller-coaster ride for Arnault and LVMH.

When it comes to finances, the past few years have been a roller-coaster ride for Arnault and LVMH.
Customers visit French luxury fashion brand Louis Vuitton's store at the Times Square shopping mall in Causeway Bay, Hong Kong.Budrul Chukrut/Getty Images

In January 2019, Arnault made $4.3 billion in a single day after LVMH shares surged 6.9%. And just six months later, on June 19, 2019, Arnault again made news when he became the third person in the world to reach a $100 billion net worth.

Then the coronavirus pandemic hit, and pandemic-related shutdowns sank LVMH's stock, sending Arnault's personal net worth down more than $30 billion by May 2020.

But as the world opened up again, LVMH's stock recovered, thanks to strong sales in fashion and leather goods and an uptick in alcohol sales, particularly Champagne.

It's been a good year so far for the company: it recorded 36.7 billion euros in revenue in the first half of 2022, up 28% from the same period in 2021.

Source: Bloomberg, LVMH

Arnault remains the world's third-richest person, behind Elon Musk and Jeff Bezos, with a fortune worth $137 billion.

Arnault remains the world's third-richest person, behind Elon Musk and Jeff Bezos, with a fortune worth $137 billion.
CHRISTOPHE ARCHAMBAULT/AFP via Getty Images

Source: Bloomberg

Marissa Perino and Taylor Nicole Rogers contributed to earlier versions of this story.

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