The career rise of Bernard Arnault, the world's richest man and luxury-goods mogul who owns brands like Louis Vuitton and Dior (2024)

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The 74-year-old French businessman is the chairman and CEO of LVMH Moët Hennessy - Louis Vuitton, known as LVMH. Arnault owns a 97.5% stake in Christian Dior, which controls 41.4% of LVMH.

Source: Bloomberg

Katie Warren contributed to an earlier version of this article.

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Arnault comes from the northern French town of Roubaix.

He studied engineering at one of France's most prestigious schools, the École Polytechnique. After graduating, Arnault went to work for his father's construction company, Ferret-Savinel.

Source: Bloomberg, Insider

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In 1984, Arnault acquired an ailing company called Agache-Willot-Boussac.

Agache-Willot-Boussac owned brands like French department store Bon Marché and the fashion house Christian Dior.

He renamed the firm Financière Agache and initiated a turnaround, cutting costs and selling off some of its businesses.

Source: Bloomberg

Soon after, he bought fashion house Celine and funded the French designer Christian Lacroix.

Source: The New York Times

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In the late 1980s, Arnault said his goal was to run the world's largest luxury company within the following decade.

He then set his sights on LVMH Moët Hennessy - Louis Vuitton, spending $2.6 billion buying up shares in order to become the company's largest shareholder, and eventually its chairman and CEO, by 1989.

Source: The New York Times

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

Source: Financial Times, Forbes

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

Source: Forbes

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Like many of his fellow billionaires, Arnault lives a lavish life.

He travels by private jet, owns a sprawling vacation villa in glitzy Saint-Tropez on the French Riviera, and reportedly has also spent at least $96.4 million on residential properties in the Los Angeles area: in Beverly Hills, and in the Trousdale Estates and Hollywood Hills neighborhoods.

Source: Telegraph, The Real Deal

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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.

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.

Source: Bloomberg

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

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

His youngest three — Alexandre, Frédéric, and Jean — are from his second marriage, to Mercier.

Source: The New York Times

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Delphine, Arnault's oldest daughter, is the apparent heiress to the LVMH empire.

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

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

Delphine became CEO and chair of Christian Dior Couture in February.

Source:Business of Fashion,The New York Times,MDS, Insider

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Delphine married Italian wine heir Alessandro Vallarino Gancia in 2005 in what Forbes called at the time "France's wedding of the year." The couple divorced in 2010.

She now reportedly lives with tech billionaire Xavier Niel and has one daughter.

Delphine is notoriously private about her personal life. In a 2014 interview with the Financial Times, she said, "I'm quite discreet. I think I'd rather focus on my work."

Source: Forbes, Insider, Financial Times

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Delphine's younger brother Antoine is CEO of Christian Dior SE, the holding company of LVMH. He's also the CEO of menswear label Berluti, and the non-executive chair of cashmere label Loro Piana, both owned by LVMH.

In addition to those roles, Antoine was named head of communications and image for LVMH in June 2018.

Source: The New York Times, Business of Fashion, Insider

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He's married to supermodel Natalia Vodianova, whom he reportedly met on a shoot for a 2008 Louis ­Vuitton campaign when he was the brand's head of communications.

The couple lives in Paris with their two children and Vodianova's three children from a previous marriage.

Source: W Magazine

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Alexandre, the son of Bernard Arnault and Mercier, became an executive VP at Tiffany & Co. after LVMH bought the jewelry brand.

LVMH acquired Tiffany & Co. in 2021, after which Alexandre became the company's executive vice president of product and communications.

Prior to moving over to Tiffany, Alexandre was the CEO of Rimowa, a German luggage brand owned by LVMH.

Alexandre is longtime friends with Evan Spiegel, the chief executive of Snap. Spiegel told The New York Times that Alexandre is "a really creative guy" and that "he's constantly thinking about the brand and how to express that."

Source: The New York Times, Insider, Insider

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Alexandre's younger brother Frédéric is the CEO of TAG Heuer.

Frédéric joined LVMH as the temporary head of connected technologies at TAG Heuer in 2017. A year later, he became strategy and digital director at the Swiss watch company, LVMH's largest watch brand. In 2020, Frédéric was named TAG Heuer's CEO.

Frédéric graduated from his father's alma mater, École Polytechnique in Paris, and interned at Facebook and consulting firm McKinsey before joining LVMH.

Source: The New York Times

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Arnault's youngest son, Jean, joined the family business in 2021.

Jean Arnault became marketing and product director in Louis Vuitton's watch division in August 2021.

Jean, who was 23 at the time, has a master's degree in financial mathematics from Massachusetts Institute of Technology, as well as a master's in mechanical engineering from Imperial College London, WWD reported.

According to his LinkedIn profile, he interned at Morgan Stanley and McLaren Racing and worked in a Louis Vuitton retail store before joining the company full-time.

Source: WWD

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Arnault has rubbed shoulders with some of the planet's most influential figures, in the fashion world and otherwise.

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In 2017, Arnault met President-elect Donald Trump at Trump Tower in New York City, right before Trump's inauguration, to discuss expanding LVMH factories in the US.

The company opened a new 100,000-square-foot Louis Vuitton factory in Texas in 2019, the company's third factory in the US. Trump attended a ribbon-cutting ceremony for the factory.

Source: WWD, The Cut

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Arnault was reportedly friends with Apple founder Steve Jobs.

Jobs once said to Arnault: "You know, Bernard, I don't know if in 50 years my iPhone will still be a success but I can tell you, I'm sure everybody will still drink your Dom Pérignon."

Source: CNBC

Former Goldman Sachs chief executive Lloyd Blankfein once called Arnault "a complete visionary," adding that he "saw the increase of wealth in the world."

Source: CNBC

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Arnault is reportedly longtime friends with former French president Nicolas Sarkozy and was a witness at Sarkozy's wedding to singer and model Carla Bruni.

Source: The New York Times

Here, Arnault can be seen shaking hands with Vladimir Putin during the Russian president's 2003 visit to the Château Cheval Blanc vineyard in France, which LVMH owns.

Source: LVMH

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Arnault considered the legendary designer and Chanel creative director Karl Lagerfeld a good friend.

"The death of this dear friend deeply saddens me, my wife and my children," Arnault said in a statement upon Lagerfeld's death in 2019. "We loved and admired him deeply. Fashion and culture has lost a great inspiration."

Source: LVMH

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But Arnault also has a longstanding public rivalry: with François Pinault, the founder of luxury group Kering, who's worth about $37 billion.

Kering owns brands including Gucci and Yves St. Laurent. The billionaire also owns Christie's auction house.

LVMH originally tried to acquire a majority stake in Gucci in 1999, but Pinault ultimately snatched up the brand.

Source: Bloomberg, Forbes

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Over the years, Arnault has built LVMH into the largest luxury conglomerate in the world and earned himself an imposing nickname: "the wolf in the cashmere coat."

Source: The New York Times

He's behind the creation of Foundation Louis Vuitton, a Frank Gehry-designed contemporary art museum and performance space in Paris that opened in 2014.

Source: The New York Times

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In April 2019, LVMH released a statement on behalf of the Arnault family, pledging 200 million euros, or about $218.8 million, to help rebuild the Notre-Dame Cathedral, which was heavily damaged in a 2019 fire.

Source: Le Figaro

In October 2020, Arnault's company bought Tiffany & Co. for $15.8 billion in the luxury sector's biggest-ever deal. The contentious sale involved multiple lawsuits and a $400 million price drop.

Source: Insider

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When it comes to finances, the past few years have been a roller-coaster ride for Arnault and LVMH.

In January 2019, Arnault made $4.3 billion in a single day after LVMH shares surged 6.9%. And just six months later, on June 19, 2019, Arnault again made news when he became the third person in the world to reach a $100 billion net worth.

Then the coronavirus pandemic hit, and pandemic-related shutdowns sank LVMH's stock, sending Arnault's personal net worth down more than $30 billion by May 2020.

But as the world opened up again, LVMH's stock recovered, thanks to strong sales in fashion and leather goods and an uptick in alcohol sales, particularly Champagne.

It's been a good year so far for the company: it recorded 36.7 billion euros in revenue in the first half of 2022, up 28% from the same period in 2021.

Source: Bloomberg, LVMH

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Arnault is the world's richest person with a net worth of $212 billion.

His wealth has grown by $33.7 billion so far this year. Arnault's net worth surpassed the $200 billion mark earlier this month, making him the third-person ever, behind Elon Musk and Jeff Bezos, to do so.

Source: Bloomberg, Insider

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LVMH's headquarters in Paris were briefly stormed by protestors in April who are opposed to the French government's proposal to raise the country's retirement age from 62 to 64.

On the same day, Arnault's fortune increased by $12 billion.

Source: Insider, Insider

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Arnault reportedly meets with his five children for a monthly lunch in the private dining room at LVMH to instruct them on the company's strategy and manager performance, The Wall Street Journal reported.

Sidney Toledano, CEO of LVMH's fashion arm, told The Journal that it's not guaranteed that one of Arnault's children will succeed him as CEO of LVMH.

Source: The Wall Street Journal, Insider

Marissa Perino and Taylor Nicole Rogers contributed to earlier versions of this story.