Top 10 Best Facts about Bernard Arnault

Photo by Jeremy Barande from Wikimedia

Top 10 Best Facts about Bernard Arnault

Bernard Jean Etienne Arnault was born on 5 March 1949, in Roubaix, France. He is the son of Jean Leon Arnault, a manufacturer who owned a civil engineering company, Ferret-Savinel.

Bernard Arnault is a French business magnate, investor, art collector, and one of the most significant textile makers in the world. He is also the co-founder, chairman, and chief executive of LVMH Moet Hennessy- Louis Vuitton SE Company.

LVMH Moet Hennessy- Louis Vuitton SE is the world’s largest luxury goods company, with a valuation of $329 billion.

Here are the ten best facts about Bernard Arnaul.

1. Bernard Arnault Bought a nearly Bankrupt Company

Photo by Jeremy Barande from Wikimedia

In 1984, Bernard bought a nearly bankrupt company, ‘Agache-Willot-Boussac’, which was into retailing fashion and manufacturing. The investment was his passageway to the luxury business world.

Arnault laid off 9,000 workers in two years after which he acquired the nickname “the terminator”. He then sold nearly all of the assets, keeping only the Christian Dior brand and Le Bon Marche which he was interested in.

By 1987, the company was profitable again. He invested in LVMH making him LVMH’S largest shareholder, the chairman, and CEO of LVMH.

2. Bernard Arnault is an Art Collector

Photo by Jeremy Barande from Wikimedia

Bernard Arnault’s passion is to collect art in the form of paintings. He now owns an extensive art collection, which includes works of Picasso, Yves Klein, Henry Moore, and Andy Warhol.

LVMH is a major patron of art in France. The LVMH Young Fashion Designer was created as an international competition open to students from fine-arts schools.

Bernard owned an auction house in France, and he bought his first Tajan In 2006. Following his passion in the field of arts, he started the Louis Vuitton Foundation, a project dedicated to the creation of contemporary art.

3. Bernard Arnault’s role Models Are Warren Buffet and Steve Jobs

The success of LVMH is built on creativity, quality, entrepreneurship, and long-term vision. They are the stepping stones of the empire Bernard has built throughout his entire life.

During his time as a young entrepreneur, Bernard Arnault looked up to big names like Warren Buffet and Steve Jobs. He saw Steve Jobs as a genius mind that revolutionized telecommunications.

In an interview carried out by Forbes magazine, Arnault said that the person he admires the most in business is Warren Buffet, for his brilliant ideas and his long-term investing.

4. Bernard Arnault applied for Belgium Citizenship to Avoid Taxes

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In 2013, it was disclosed that Arnault planned to apply for Belgian citizenship and was considering moving to Belgium to evade taxes. The tax rate in Belgium is much lower than in France, making it lucrative to do business there.

He later withdrew his request for Belgian nationality. He said he never intended to leave France to evade tax, but to ensure the continuity and integrity of his company if he was to disappear.

.5. Bernard Arnault is friends with the former and current Presidents of France

Bernard Arnault is a close friend of former France President, Nicholas Sarkozy. He supported his presidency and even attended his wedding.

He is also family friends with the current President of France Emmanuel Macron. Arnault supported his campaigns in the second round of French elections in 2017.

French first lady Brigitte Macron was a teacher to Arnault’s sons Frederic and Jean when they were students at the Lycee Saint-Louis-de-Gonzague.

6. He owns a $35,000,000 Island in the Bahamas

Arnault owns an island valued at $35,000,000 in the Bahamas, a private and exclusive property accessible through invitation only.

The Island offers retreats for the affluent and the filthy rich persons, at a price of

US$300,000 per week, only a few people can afford to visit the island.

He also owns a private jet which he acquired for US$40 million and a massive

chateau-style waterfront mansion in Saint Tropez.

7. His First brand was Christian Dior

Photo by The White House from Wikimedia

Bernard Arnault was interested in making Christian Dior a top brand. He invested a lot of money in the brand after selling nearly all assets of Agache.

After he acquired the company, Arnault hired the first Italian designer to the company to succeed French man Marc Bohan. He also appointed British designer John Galliano as Christian Dior’s head.

This brought him a lot of criticism from the French designers who were not happy with the changes. To his critics, Arnault said that talent had no nationality.

8. Bernard is a Trained Classical Pianist

Even though Bernard graduated from a technical university, he still had an artistic side. Arnault was classically trained as a pianist, but he concluded early in life that he did not have the mettle for a career as a concert pianist.

Arnault made time to practice Chopin, Liszt, and Schumann. His aspect of competitiveness comes partly from his background as an amateur artist.

9. Bernard Arnault is a Philanthropic 

Bernard Arnault’s flagship company “LVMH” developed a broad philanthropy program with a focus on promoting and sharing culture with a special emphasis on youth since 1973.

The programs support humanitarian, scientific, and medical research organizations across the globe. The organizations include:  Save the Children, the Foundation for hospitals in Paris, and the Princess Grace of Monaco Foundation..

In 2019, LVMH made an exceptional donation of 200 million euros to help save and restore Notre Dame de Paris after it was ravaged by a terrible fire.

10. Bernard Arnault Divorced his first Wife in 1990

Bernard Arnault married his first wife Anne Dewavrin in 1973. The couple stayed together for 17 years and they separated in 1990, together they have two children.

In 1991, he married a Canadian pianist Helene Mercier, together they have three children and live in Paris.