ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NET WORTH

The Pope of Fashion; What Is Bernard Arnault's Net Worth?

By mid-2021, Arnault's net worth had surged to $186 billion, solidifying his status as one of the world's wealthiest individuals.
PUBLISHED SEP 14, 2023
Image Source: Bernard Arnault attends the 'LVMH Start-Up Accelerator' opening ceremony / Marc Piasecki/Getty Images
Image Source: Bernard Arnault attends the 'LVMH Start-Up Accelerator' opening ceremony / Marc Piasecki/Getty Images
Name Bernard Arnault
Net Worth $195.2 billion
Gender Male 
DOB 5 March 1949
Age 74 Years
Nationality French
Profession Entrepreneur, Investor, Art Collector, Business Executive

Bernard Jean Étienne Arnault, born in 1949, is best known for being a top luxury fashion mogul in France. He's also into collecting fine art, doing philanthropy work, and, according to many people who've known him during his more than 50-year career, he's a smart but sometimes tough businessman. As of the most recent update in this article on September 12th, 2023, Bernard Arnault's net worth was $195.2 billion, making him the second wealthiest individual globally, just behind Elon Musk, the CEO of Tesla, who held a fortune of $264.9 billion on that particular day.

Throughout much of 2023, Arnault and Musk had been in close competition for the number-one position. In late April 2023, Arnault held a significant lead with a net worth of $241.1 billion compared to Musk's $167.4 billion, as reported by Forbes. 


 
 
 
 
 
View this post on Instagram
 
 
 
 
 
 
 
 
 
 
 

A post shared by LVMH (@lvmh)


 

Bernard Arnault's journey towards his immense wealth was rooted in privilege. His father owned a civil engineering company, providing him with opportunities others might not have. Arnault took full advantage, attending France's prestigious École Polytechnique, where he graduated in 1971. Arnault's initial venture into business was at his father's civil engineering firm, Ferret-Savinel. He played a pivotal role in transforming the company into the real estate industry, eventually leading it as CEO and later chairman. This early experience would lay the groundwork for his future endeavors.

The path to fashion domination

In 1984, Arnault partnered with Lazard Frères to acquire the luxury brand Financière Agache, becoming its CEO, marking his entry into the fashion world. Later, he obtained Boussac Saint-Frères, which included Christian Dior, a cornerstone of his fashion empire. He streamlined the company, retaining Christian Dior and Le Bon Marché.

In 1987, Arnault, with Louis Vuitton's Henry Racamier, founded LVMH. He gradually became the largest shareholder with a 43.5% ownership stake by early 1989, enabling him to assume the roles of chairman and CEO.

Image Source: Bernard Arnault attends the LVMH Innovation Awards /  LUDOVIC MARIN/AFP via Getty Images
Image Source: Bernard Arnault attends the LVMH Innovation Awards / LUDOVIC MARIN/AFP via Getty Images

Over the following decades, Arnault embarked on an acquisition spree, incorporating various businesses into the LVMH conglomerate, both inside and outside the fashion industry. Notable acquisitions included Berluti, Kenzo, Guerlain, Loewe, Marc Jacobs, Sephora, and Thomas Pink in the 1990s, and Fendi, DKNY, La Samaritaine, and Princess Yachts in the 2000s.

Ascension to the billionaire elite

Arnault's wealth grew significantly over the years. By 1997, he was worth around $3.6 billion. In 2005, his net worth surpassed $20 billion. During the 2010s, his fortune fluctuated between approximately $30 billion and $75 billion. However, by the end of the decade, he had officially joined the exclusive $100 billion club, alongside tech giants like Jeff Bezos and Bill Gates.

The COVID-19 pandemic brought an unexpected boon to the luxury fashion industry. By mid-2021, Arnault's net worth had surged to $186 billion as LVMH shares soared, solidifying his status as one of the world's wealthiest individuals.

Bernard Arnault’s salary as CEO of LVMH

According to LVMH's 2020 annual report, Arnault received €8.2 million (equivalent to $9.7 million) in salary, bonuses, and benefits.

Image Source: STEFANO RELLANDINI/AFP via Getty Images
Image Source: STEFANO RELLANDINI/AFP via Getty Images

Ventures and brands

In 2023, Arnault's business empire, known as LVMH, expanded to include approximately 75 luxury brands operating through around 60 subsidiary companies. This solidified his position as one of the world's richest business magnates. As of early September 2023, LVMH, in which Arnault held a 41.4% ownership stake through his 97.5% ownership of Christian Dior, had a market capitalization of approximately $397.26 billion.



 

Bernard Arnault's brands

Fashion and leather Jewelry and watches Fragrance and cosmetics Luxury retail Wine and spirits
Louis Vuitton Tiffany & Co. Acqua di Parma La Samaritaine Belvedere
Christian Dior Chaumet Guerlain Le Bon Marché Dom Pérignon
Marc Jacobs Bulgari Fenty Beauty by Rihanna La Grande Epicerie Hennessy
Fendi TAG Heuer Maison Francis Kurkdjian Sephora Château Cheval Blanc
Givenchy Zenith Perfumes Loewe DFS Chateau d’Esclans

In addition to acquiring businesses, Arnault is renowned for his impressive art collection, which includes works by renowned artists such as Pablo Picasso, Yves Klein, Henry Moore, Jean-Michel Basquiat, and Andy Warhol. His substantial wealth has also allowed him to indulge in various luxury acquisitions.

When it comes to transportation, he possesses a superyacht named Symphony and a Dassault Falcon 7X private jet worth $40 million. Beyond his means of travel, the billionaire owns a 135-acre private island in the Bahamas and maintains a residence in Paris, a waterfront chateau in Saint-Tropez, and multiple homes in and around Los Angeles.

Does Bernard Arnault have kids?

Bernard Arnault is married and has five children.

When did Bernard Arnault join LVMH?

In 1989, Mr. Arnault became the majority shareholder of LVMH Moët Hennessy – Louis Vuitton, creating the world’s leading luxury products group. Mr. Arnault has been Chairman and CEO of the company since that date.

How old is Bernard Arnault?

Born on March 5, 1949, Bernard Arnault is 74 years old.

MORE ON MARKET REALIST
The legendary lead vocalist of the celebrated rock band U2 has built a vast empire and is now the second richest rockstar on the planet.
Oct 3, 2024
Trump's impressive car collection includes McLaren Mercedes SLR, Rolls-Royce, and even an exclusive Cadillac.
Sep 27, 2024
The nursing student from Georgia found his trading account balance rise to a whopping $1,309,245,148,628.7
Sep 26, 2024
Nicholas Puech, who owned a 5.7% stake in the luxury brand, has claimed he has nothing left in bank.
Sep 25, 2024
Is it surprising that the billionaire isn't a frequent shopper at the grocery store?
Aug 31, 2024
The pay gap led to her passing over the role and it ultimately went to a newcomer.
Aug 20, 2024
American businessman Charles Francis Feeney was called the "James Bond of Philanthropy" by Forbes.
Aug 14, 2024
Swift's partner Travis Kelce is estimated to be worth $70 million and the cat is richer than him
Aug 5, 2024
He spent his teenage years earning just $1 per hour by offering tourist tours
May 14, 2024
The rapper earns primarily from album and mixtape sales, endorsements, concerts, tours, live performances, and shows.
May 3, 2024
From real estate mavens and fashion PR queens to content creators and resilient entrepreneurs, these women bring a diverse range of experiences to RHONY.
Apr 27, 2024
For two years, soaring inflation eroded most workers' wage gains but recent data from the Bureau of Labor Statistics suggests that the tide is turning.
Apr 7, 2024
From global show to international tours, delve into the singing maestro Taylor Henderson's net worth
Apr 7, 2024
Today, many artists don't limit themselves to one art form but expand by launching their fashion lines or tieing up with charitable organizations
Mar 24, 2024
Take a look at how the financial maestro Carlos Slim Helubuild himself and his generations a legacy
Mar 24, 2024
These changes represent significant adjustments to the program, impacting millions of recipients across the United States.
Mar 16, 2024
Corporate brands usually rely on popular software to smooth operations but major software malfunctions have also spelled disaster for companies and consumers.
Mar 10, 2024
The scammers went to great lengths to make their scheme convincing, even going as far as creating a fake SpaceX YouTube channel with 180,000 subscribers
Mar 10, 2024
Leveraging technology to take on small jobs and tasks can help you earn extra cash quickly.
Mar 5, 2024