Who is 'Bernard Arnault'

Bernard Arnault is the founder, chairman, and CEO of luxury goods conglomerate LVMH, which owns about 70 luxury brands including Louis Vuitton and Christian Dior. 

BREAKING DOWN 'Bernard Arnault'

Bernard Arnault was born in 1949 and lives in Paris, France. Arnault ranks among the richest people in the world. According to Forbes Magazine, in July 2018 he had a real-time net worth value of $81.2 billion. Forbes also listed Arnault as number 56 on the Powerful People 2018 list and fourth richest person in the world as shown by their 2018 Billionaires list, falling behind Amazon’s Jeff Bezos, Microsoft’s Bill Gates, and Berkshire Hathaway’s Warren Buffett, and coming out just ahead of Facebook’s Mark Zuckerberg.

LVMH is a French holding company, formed through a 1987 merger, that owns about 70 internationally recognized luxury good brands, including Louis Vuitton, Christian Dior, Sephora, Moët et Chandon and Hennessy. The majority of LVMH's brands fall into the categories of wine and spirits, fashion and leather goods, perfumes and cosmetics, and watches and jewelry.

In April 2017, Arnault bought out Christian Dior, consolidating control and simplifying the complex brand structure. This deal and record results at LVMH boosted his fortune by $30.5 billion. In the 1980s, Arnault originally took control of Dior’s parent company Financière Agache for $15 million, an investment of his father’s money earned in the construction business.

Bernard Arnault, Patron of the Arts

An arts lover and patron, Arnault is considered a tastemaker and has demonstrated his support for arts organizations and individual artists, both established and emerging, in many aspects.

In 2014, Arnault unveiled his $135 million Frank Gehry-designed museum for the Louis Vuitton Foundation’s in Paris' Bois de Boulogne.

Arnault frequently asks artists to design products for LVMH’s brands: Richard Prince and Takashi Murakami both made handbags for Louis Vuitton, and Jeff Koons designed a special edition package for Dom Perignon. As an art collector, he is known for collection of contemporary art, which includes work by Andy Warhol, Pablo Picasso, Henry Moore and Yves Klein. Through his company, he created the LVMH Young Fashion Designer competition, a competition open to students from fine-arts schools all over the globe. The winner is awarded a grant to support the creation of a label and comes with a year of mentorship. Arnault owned Phillips de Pury & Company, an art auction house, from 1999 to 2003.

Arnault is married to Helene Mercier, a concert pianist, whom he is said to have wooed through their mutual love of classical music.

RELATED TERMS
  1. Forbes

    Forbes is an American media and publishing company headed by ...
  2. Luxury Item

    A luxury item is not necessary for living, but is deemed as highly ...
  3. Houseable

    Houseable art has small enough dimensions to fit suitably in ...
  4. Original Print

    A work of art created by carving a master image into a durable ...
  5. Fractional Gift

    A fractional gift entails a gradual charitable donation of a ...
  6. Brand Management

    Brand management is a function of marketing that uses techniques ...
Related Articles
  1. Insights

    A Look at the $13b LVMH-Christian Dior Deal

    Owned by one family, the deal will simplify ownership structure for the two luxury brands
  2. Insights

    Fine Art Funds: A Beautiful Investment

    Have you ever admired a piece of art and wished you had the money to own it? Art funds may be one way to get a stake in this profitable market.
  3. Investing

    The Best ETFs for Investing in Luxury Goods

    With an unbroken demand for luxury products and services, diversified ETFs offer an attractive investment option.
  4. Managing Wealth

    Fine Art Can Be A Fine Investment

    Understand how to identify Michelangelo from macaroni art before you make an investment in the fine arts. Learn the appraisal process to find a worthy asset.
  5. Investing

    EA: How Electronic Arts' Stock Price Rose 10% in 6 Months

    After a dip at the start of the year, Electronic Arts' stock price has climbed to a new record high in the first six months of 2016.
  6. Personal Finance

    The Psychology Behind Why People Buy Luxury Goods

    Luxury goods exemplify how irrational we can be. A decent, sturdy handbag can be bought for $50, yet people will still spend thousands on a brand name.
  7. Investing

    Michael Kors Reportedly Being Courted by LVMH

    Could a big acquisition be looming in the fashion retail sector? According to a report on business news website Streetinsider, citing "a person claiming to have knowledge of the matter," Michael ...
  8. Personal Finance

    What Education Do You Need To Become A Billionaire? (MSFT, ORCL)

    What kind of education does it take to become a billionaire? We take a look at the formal and informal education of the world's five richest people.
  9. Investing

    Buy Apple, It’s a Luxury Brand like Vuitton: HSBC

    Analysts expect the smartphone maker to rise another 15% as it builds out its retail potential.
  10. Investing

    Tips For Buying Luxury Real Estate

    The price and volume of luxury home sales is rising quickly in the U.S. and around the world. Find out what's driving this growth and what you need to know before buying a luxury property.
RELATED FAQS
  1. How is Warren Buffett Plan bequeathing his estate?

    Find out how much Warren Buffett is leaving for his heirs and how he wants the funds invested after his death. Read Answer >>
  2. How does brand image and marketing affect market share?

    Building a positive brand image is a must for companies that want an edge over the competition. Learn how marketing and branding ... Read Answer >>
  3. What is Warren Buffett's investment history with the Washington Post? (BRK.A, AMZN)

    Learn why one of the richest men in America passed up the opportunity to take over one of the nation's most celebrated and ... Read Answer >>
  4. What's the first stock Warren Buffett ever bought?

    Find out about Warren Buffett's first experience in stock market trading. Learn some of the Berkshire Hathaway CEO's basic ... Read Answer >>
  5. How did Warren Buffett get started in business?

    Warren Buffett may have been born with business in his blood, but it was a brush with Benjamin Graham that put him on his ... Read Answer >>
Trading Center