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Who is Bernard Arnault?

Greetings, in this article we will give information about Bernard Arnault. So who is Bernard Arnault? Let's see together.

Who is Bernard Arnault?

Bernard Arnault is France's richest businessman and an investor among the world's biggest billionaires. Arnault, whose father is a businessman like him, entered the business world at a young age and his business acumen developed rapidly. After graduating from high school, he studied engineering at the École Polytechnique and after graduating joined his father's construction firm. After a long struggle, he managed to change the focus of the company by convincing his father that the firm was turning to real estate, an ever-innovating sector. Arnault owned many companies over time, and most recently, he became the new owner of the prestigious Christian Dior brand. When Louis Vitton and Moët Hennessy merged, the company's name was changed to LVMH. Arnault invested millions of dollars in stock in this new company and became one of the first shareholders of LVMH. He then started working as CEO.

Bernard Arnault took over as director of corporate development in 1974. He became CEO three years later and succeeded his father as president of the company in 1979. Things did not go well for him when the Socialists came to power in France in 1981, so Arnault and his family had to move to the United States. Again with his outstanding business acumen, Arnault took the initiative and built luxury homes in Palm Beach, Florida, and officially founded the American arm of the real estate business.

In the early 1983's, some differences began to appear in French politics; Arnault decided to return home when the ruling socialists shifted to a conservative economic situation. When the big textile company Boussac SaintFrères went bankrupt, Arnault saw it as a hugely profitable opportunity. Boussac SaintFrères, which also includes Christian Dior's design studio and fashion workshop, was a major fashion empire. By collaborating with Antoine Bernheim, the managing partner of investment firm Lazard Fréres, Arnault provided all the necessary financial support and acquired Boussac. Arnault invested $15 million in this $80 million transaction, and the remaining $65 million was earned by Bernheim.

Bernard Arnault Net Wealth How Much?

According to the statements of 2022 Forbes Magazine, Bernard Arnault, who holds the fashion industry, has a net worth of 147.5 Billion dollars.

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