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Bernard Arnault is the founder of Louis Vuitton Moyt Hennessy (LVMH), which is one of the world's largest manufacturers of luxury goods. Arnault is famous for numerous charity events. He is a sponsor of art galleries, supports disabled students at the Academy of Fine Arts, his company spends large sums of money on finding new talents in the field of business and art.
Biography
2018-2019
In the spring of 2018, Arnault became the richest man in Europe, according to Bloomberg, with a fortune of 81 billion euros.
Arnault was already at the top of the Forbes world rankings for a few minutes when he overtook Bezos in December 2019. Bernard Arnault's fortune was estimated at $109.6 billion, and Jeff Bezos at $109.5 billion.
2021: Bernard Arnault is the richest man in the world
On May 24, 2021, Bernard Arnault became the richest man on the planet. This is evidenced by the rating of Forbes magazine, which is updated in real time.
The fortune of the head of the French holding LVMH, which develops the brands Dior and Louis Vuitton, amounted to $186.3 billion, which is $300 million more than the founder of Amazon Jeff Bezos, who previously led the list of the richest people in the world. Bezos's fortune on May 24, 2021 was measured at $186 billion, and the top 3 was closed by Elon Musk with an indicator of $147.3 billion.
According to Forbes observers, Arnault's leadership in terms of fortune reflects the "outstanding rise" of European companies operating in the field of fashion and luxury during the lockdown period. The businessman himself previously said that fashion houses managed to demonstrate flexibility and adapt to work during the spread of the COVID-19 coronavirus. LVMH's revenue is growing rapidly thanks to the "momentum" provided by buyers in China, writes the American Forbes, citing Jefferies analyst Flavio Sereda.[1]
2023
Five-child inheritance settlement plan
As of February 2023, Bernard Arnault remains the richest man in the world and is trying to prevent the struggle for inheritance: at 73, Bernard Arnault has a fortune of $196 billion, five children and the desire to avoid the civil strife that many dynasties suffer from.
At the heart of the plan is a new holding company, the control of which is equally distributed among his five children. It already has the ability to influence the main decisions regarding the group of luxury goods. It is this mechanism that the patriarch hopes will prevent divisions between his heirs and provide LVMH Moet Hennessy Louis Vuitton SE with family control for decades to come.
Investigation into possible money laundering in transactions with Russian Nikolai Sarkisov
French billionaire LVMH Bernard Arnault's dealings with a Russian businessman are being investigated for possible money laundering, prosecutors said on September 29, 2023. Paris
According to the newspaper Le Monde, the investigation into Arnaud and Nikolai Sarkisov concerns real estate transactions in the elite ski resort of Courchevel.
Notes
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