Editor’s Note
This article is part of a series profiling the career of Bernard Arnault, Chairman and CEO of LVMH. It details his early life, education, and initial steps in transforming a family construction firm into a real estate venture, setting the stage for his future in luxury goods.
Bernard Arnault was born on March 5, 1949, in Roubaix. He is the son of Jean Arnault, owner of a construction and public works company. Graduating from the École Polytechnique in 1969, he joined the family business, Ferret-Savinel, as an engineer. He became its Chairman and CEO in 1978, at the age of 29. The young CEO reoriented the company towards real estate development, and Ferret-Savinel became Ferinel. In the late 1970s, he moved to the United States, where he developed real estate projects in Palm Beach, Florida.
Returning to France in the early 1980s, Bernard Arnault seized the opportunity to enter the luxury industry when a bankrupt textile conglomerate, Boussac Saint-Frères, was put up for sale. Through financing orchestrated with the investment bank Lazard Frères, he acquired the group for approximately 90 million francs. He restructured the company, selling the majority of its assets while retaining its two crown jewels: the Christian Dior fashion house and the Le Bon Marché department store. This acquisition marked the beginning of his dominance in the luxury sector.
In 1987, Bernard Arnault invested in a new, rapidly expanding group, LVMH (Moët Hennessy Louis Vuitton). Through a series of strategic share acquisitions, he became the majority shareholder and chairman-CEO of the group in 1989. Under his leadership, LVMH became the world’s largest luxury conglomerate, bringing together prestigious brands such as Louis Vuitton, Christian Dior, Fendi, Givenchy, and Céline. Simultaneously, the LVMH boss acquired several watch, jewelry, and cosmetics brands, as well as distribution companies like Sephora.
Bernard Arnault is recognized not only for his business acumen but also for his artistic vision. He played a key role in revitalizing historic fashion houses by appointing unconventional designers like John Galliano (Dior), Alexander McQueen (Givenchy), and Marc Jacobs (Louis Vuitton) to strategic positions. A great enthusiast of modern and contemporary art, he has built up an impressive collection of works over the years, from Picasso to Warhol, including Jeff Koons, Basquiat, and Yves Klein. Concurrently, he established significant patronage actions to promote art in France. In 2014, he inaugurated the Fondation Louis Vuitton, a center dedicated to contemporary art in Paris.
Bernard Arnault wishes for part of his economic success to benefit the promotion of art. Through the patronage of the LVMH group, he brings together artistic, intellectual, and scientific talents in France and around the world. He contributes to preserving, enriching, and making French contemporary artistic creation accessible to the widest possible audience.
The entrepreneur also dedicates part of his fortune to funding charitable works. In the aftermath of the devastating fire at Notre-Dame Cathedral in Paris, he donated 200 million euros for its reconstruction. In 2023, he announced his intention to donate 10 million euros to the Restos du Cœur.
Bernard Arnault is one of the richest men in the world, regularly alternating in the top 5 of the Bloomberg Billionaires Index alongside Elon Musk, Mark Zuckerberg, Jeff Bezos, and Larry Ellison. His fortune is estimated at over 188 billion dollars, largely thanks to the exponential growth of LVMH. His five children, Delphine, Antoine, Alexandre, Frédéric, and Jean, who already hold key positions in the family empire, are expected to succeed him. The billionaire also owns a significant real estate portfolio, including his 2,000-square-meter private mansion near Les Invalides, his château in Yvelines, and his villa in Saint-Tropez.
