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French billionaire Bernard Arnault is the world’s 3rd richest person – Business Insider

French billionaire Bernard Arnault is the world’s 3rd richest person – Business Insider

Bernard Arnault is the chairman and CEO of LVMH, the world’s largest maker of luxury goods.
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Bernard Arnault just made $5.1 billion in less than 48 hours, Forbes reported.With an estimated net worth of $96.3 billion, Bloomberg reports, Arnault is the third-richest person in the world. Arnault, 70, was the second-richest person in the world for a time when he surpassed Bill Gates earlier this year, - reported.Arnault is chairman and CEO of LVMH, the world’s largest maker of luxury goods that brought in nearly $53 billion in revenue in 2018.Four of Arnault’s five children work at LVMH brands that include Louis Vuitton, Rimowa, Berluti, and TAG Heuer. Visit Business Insider’s homepage for more stories.French businessman Bernard Arnault just made $5.1 billion within 48 hours after a surge in share prices of his conglomerate, LVMH, since Wednesday evening, Forbes reported.Arnault is the third-richest person in the world, with a net worth of $99.2 billion, according to Forbes. Bloomberg, meanwhile, pegs his net worth slightly lower at $96.3 billion. Arnault overtook Warren Buffett in March to become the third-richest person in the world, Bloomberg reported. A few months later, he surpassed Bill Gates to become the world’s second-richest person, but now he’s back at number three.Arnault is the chairman and CEO of LVMH Moet Hennessy Louis Vuitton SE, known as LVMH, the world’s largest maker of luxury goods, making him the richest person in the fashion industry. LVMH, which recorded more than $53 billion in revenue in 2018, is made up of 70 companies including Christian Dior, Louis Vuitton, Dom Perignon Champagne, TAG Heuer, and Rimowa.Four of Arnault’s five children are part of the LVMH empire. Arnault made headlines in April after pledging to help fund the rebuilding of Notre Dame. The 800-year-old Notre-Dame Cathedral caught fire in April, damaging its spire and roof. Collectively, France’s superrich pledged over $450 million towards its repairs, though a church official said in June that none of the funds had been received.At the end of September, five months after the fire, Arnault signed a contract confirming his donation of 200 million euros, or almost $219 million, French newspaper Le Figaro reported.Here’s a look at Arnault’s career, life, and family.Marissa Perino contributed to reporting.

Bernard Arnault is the third-richest person in the world, worth an estimated $99.2 billion, according to Forbes. He’s the richest person in Europe by far.

Reuters

Bloomberg pegs Arnault’s net worth slightly lower at $96.3 billion. 

The 70-year-old French businessman is the chairman and CEO of LVMH Moet Hennessy Louis Vuitton SE, known as LVMH, a position he’s held since 1989. LVMH is the world’s largest maker of luxury goods.

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Source: Bloomberg

The business is a family affair; four of Arnault’s five children hold positions at LVMH brands.

Antoine Arnault, Bernard Arnault, and Delphine Arnault at a fashion show in Paris in January 2019.
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Source: Bloomberg

Arnault’s wealth is now exceeded only by Jeff Bezos and Bill Gates. According to Forbes, Arnault’s fortune currently trails Gates’ by $6 billion.

Jeff Bezos, the richest person in the world.
Drew Angerer/Getty Images

Source: Bloomberg, Forbes

Arnault owns a 96.5% stake in Christian Dior, which controls 41% of LVMH.

Source: Bloomberg

LVMH, which recorded more than $53 billion in revenue in 2018, is made up of 70 companies that sell products such as Louis Vuitton leather goods …

Reuters

Source: Bloomberg, LVMH

… TAG Heuer watches …

Actress Priyanka Chopra poses with a Tag Heuer watch in New Delhi in 2007.
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… and Dom Perignon Champagne. In 2018, LVMH brought in $53 billion in revenue.

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Source: LVMH

Arnault comes from the northern French town of Roubaix.

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Source: Bloomberg

He studied engineering at the Ecole Polytechnique, a prestigious school in Paris that counts three former French presidents and three Nobel Prize winners among its alumni.

The original campus of Ecole Polytechnique in Paris’ Latin Quarter, where the school was located until 1976.
Shutterstock/EQRoy

Source: Business Insider, Bloomberg

After graduating, Arnault spent a stint working for his father’s construction company, Ferret-Savinel, before entering the luxury goods industry. He became CEO of luxury goods holding company, Financiere Agache, in 1984.

LVMH vice president Alain Chevalier and Bernard Arnault, then CEO of Financiere Agache, at an event in Paris in 1988.
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Source: Bloomberg

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

Helene Mercier and Bernard Arnault.
Reuters

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

Arnault at his home in 2000.
Laurent VAN DER STOCKT/Gamma-Rapho via Getty Images

Source: Forbes

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.

Alexander Spatari/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.

Art handlers hang “Tete De Femme” by Pablo Picasso at a 2016 Sotheby’s auction in London.
Ben Pruchnie / Staff / Getty Images

Source: Bloomberg

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

Arnault with three of his sons at the Roland Garros 2018 French Open tennis tournament in Paris in June 2018.
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Source: The New York Times

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

Antoine and Delphine Arnault with their father, Bernard Arnault, in 2015.
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Source: The New York Times, LVMH

Delphine, Bernard’s oldest daughter, is the apparent heiress to the LVMH empire.

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Source: The New York Times

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

Delphine Arnault in 2001.
Reuters

Source: Business of Fashion, The New York Times

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

Bernard Arnault and Delphine Arnault.
Pascal Le Segretain/Getty Images

Source: MDS

He’s reportedly friends with Evan Spiegel, the chief executive of Snap, Snapchat’s parent company. Spiegel called Alexandre “a really creative guy,” according to The New York Times. “He’s constantly thinking about the brand and how to express that.”

Delphine Arnault and Alexandre Arnault.
Bertrand Rindoff Petroff/Getty Images

Source: The New York Times

Alexandre’s younger brother, Frederic, also has a role at LVMH. He joined the conglomerate as the strategy and digital director at Swiss luxury watch brand TAG Heuer, LVMH’s largest watch brand, in 2018.

Bernard Arnault and his son Frederic Arnault in June 2018.
Reuters

Source: The New York Times

Frederic graduated from his father’s alma mater, École Polytechnique in Paris, and interned at Facebook and consulting firm McKinsey before joining LVMH as the temporary head of connected technologies at TAG Heuer in 2017.

Frederic Arnault at a TAG Heuer auction in October 2018 in London.
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Source: The New York Times

Arnault’s youngest son, Jean, is the only one of his children not involved at LVMH.

Jean Arnault (front left) with his brother, Frederic (center) and father, Bernard (right).
Rindoff Petroff/Hekimian/Getty Images

Source: The New York Times

Like many billionaires do, Arnault travels by private jet.

Bernard Arnault on his private jet between Beijing and Shanghai in 2004.
Marc DEVILLE/Gamma-Rapho via Getty Images

Source: Getty Images

He owns a sprawling vacation villa in glitzy Saint-Tropez on the French Riviera …

Bernard Arnault’s Saint-Tropez villa in 2015.
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Source: Telegraph

… where he has been seen enjoying some tennis matches.

An undated photo of Arnault playing tennis in Saint Tropez.
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Source: Getty Images

Arnault has also reportedly spent at least $96.4 million on residential properties in Los Angeles, in the Beverly Hills, Trousdale Estates, and Hollywood Hills neighborhoods.

Shutterstock/Zhukova Valentyna

Source: The Real Deal

Arnault has rubbed shoulders with some of the world’s influential figures, in the fashion world and otherwise. In 2017, he met President Donald Trump at Trump Tower in New York City right before Trump’s inauguration to discuss expanding LVMH factories in the US.

Getty Images

Source: WWD

He was photographed at parties with Lady Diana, Princess of Wales.

British fashion designer of Dior John Galliano, magazine editor Liz Tilberis, Lady Diana, Princess of Wales, with Helene Mercier and Bernard Arnault CEO at the Dior 50th Anniversary party at the Metropolitan Museum of Art in New York.
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Source: Getty Images

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