Bernard Jean Étienne Arnault ( born 5 March 1949) 

 

Bernard Arnault is a French entrepreneur, financier, and art enthusiast. He established, chairs, and serves as the CEO of LVMH, the preeminent luxury goods conglomerate globally. As of August 2024, Forbes estimates his wealth to be around $180 billion, making him one of the wealthiest people in the world.


Raised in a devout Catholic family, Arnault pursued an engineering degree at École Polytechnique, graduating in 1971. He began his professional journey at his father's business, Ferret-Savinel, shifting its focus to real estate. This strategic pivot set the stage for his future ventures in the luxury industry.


Arnault's foray into the luxury market began with the acquisition of the struggling Boussac Saint-Frères group in 1984, which included the esteemed Christian Dior brand. Known for his bold business maneuvers, he earned the moniker "The Terminator" for his effective restructuring of Dior and divestment of other assets. In 1987, he was instrumental in the formation of LVMH (Louis Vuitton Moët Hennessy) through the merger of Louis Vuitton and Moët Hennessy. Under his stewardship, LVMH evolved into a major luxury industry player, expanding across fashion, jewelry, watches, and wine sectors.


Beyond LVMH, Arnault has invested in tech ventures and engaged in philanthropy, particularly in the arts, and has been involved in significant real estate and yacht acquisitions. His leadership has made LVMH the largest company by market capitalization in the eurozone. Despite facing controversies, including a bid for Belgian citizenship, Arnault’s business expertise has cemented his position as a prominent figure in the global luxury market.


**Early Life**


Bernard Jean Étienne Arnault was born on March 5, 1949, in Roubaix, France. His mother, Marie-Josèphe Savinel, a pianist with a passion for Dior, and his father, Jean Léon Arnault, a civil engineer and owner of Ferret-Savinel, raised him in a strict Catholic environment. Arnault received classical piano lessons as a child and attended Catholic schools, including Lycée Maxence Van Der Meersch in Roubaix and Lycée Faidherbe in Lille, which prepared students for France's prestigious grandes écoles.


Arnault graduated from École Polytechnique in 1971, France's premier engineering institution.


**Career**


Shortly after graduating, Arnault joined his father's company. By 1974, he persuaded his father to pivot the company's focus towards real estate. Ferret-Savinel transitioned to real estate under the new name Ferinel, acquiring a textile company and renaming the real estate division the George V Group. These assets were later sold to Compagnie Générale des Eaux (CGE), which eventually became Nexity.


**1971–1987: Professional Beginnings**


Arnault's career started at Ferret-Savinel, where he served as president from 1978 to 1984. In 1984, he recognized an opportunity to acquire the Boussac Saint-Frères conglomerate, which included Christian Dior. With the assistance of Antoine Bernheim from Lazard Frères, Arnault secured the acquisition of Financière Agache and subsequently Boussac Saint-Frères. He streamlined the company by selling off most assets except for Dior and Le Bon Marché, reviving the group's profitability.


**1987–1989: Founding and Acquisition of LVMH**


Arnault collaborated with Alain Chevalier of Moët Hennessy and Henry Racamier of Louis Vuitton to establish LVMH in 1987. By July 1988, he invested $1.6 billion to form a holding company with Guinness, acquiring a substantial stake in LVMH. Arnault's strategic maneuvers, including buying additional shares and confronting internal resistance, led to his control over LVMH. In January 1989, he became chairman of the executive management board.


**1989–2001: Expansion and Growth of LVMH**


Under Arnault's leadership, LVMH underwent rapid expansion, significantly increasing sales and market value. He acquired several brands, including Céline, Berluti, Kenzo, and Loewe. In the late 1990s, he also ventured into the New York real estate market with the LVMH Tower. Arnault's attempt to take over Gucci in the early 2000s ended with LVMH selling its shares for a profit. He also invested in various web companies and purchased Château Cheval Blanc in 1998, which was later acquired by LVMH.


**2001–Present: Continued Success**


In 2007, Arnault and Colony Capital acquired a stake in Carrefour, France's largest supermarket chain. He entered the yacht industry in 2008 with the purchase of Princess Yachts and Royal van Lent. In 2011, he acquired a majority stake in Bulgari and made significant investments in LCapitalAsia. The acquisition of Christian Dior’s fashion and leather lines in 2017 integrated the brand fully into LVMH.


Arnault's leadership has driven LVMH to unprecedented heights, with a record market capitalization of €313 billion as of May 2021. His strategy of maintaining the distinctiveness of LVMH’s brands has reinforced their individual histories and successes.