Inside Bernard Arnault’s luxurious lifestyle: 12-bedroom mansion worth over Rs 1,648 crore & net worth over Rs 15 lakh crore
From multiple luxurious properties to jets and yachts, here’s everything that Bernard Arnault owns:
With a net worth of over 15 lakh crore, Bernard Arnault is one of the wealthiest persons in the world. He is the co-founder, chairman, and chief executive of LVMH Moët Hennessy – Louis Vuitton SE, the world’s largest luxury goods company. After obtaining a degree from the prestigious École Polytechnique in Paris, Bernard Arnault owns nearly 70 brands including Louis Vuitton, Christian Dior, and Givenchy.
In 1971, Bernard Arnault joined his father’s construction firm Ferret-Savinel. The name was later changed to Férinel Inc. In 1979, Bernard Arnault succeeded his father as president of the company.
Arnault and Antoine Bernheim, a partner of the French bank Lazard Frères and Co. managed to raise $80 million (Rs 659 crore) in 1984 and acquired Boussac Saint-Frères, a bankrupt textile company that owned Christian Dior among other brands. The journey of LVMH Moët Hennessy began from here.
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After working on his skills, Arnault decided to work with Alain Chevalier, CEO of Moët Hennessy, and Henry Racamier, president of Louis Vuitton, to launch LVMH. Together, they bought and merged various famous brands under a single group. The acquisition of several luxury brands led to Bernard Arnault being nicknamed “the wolf in the cashmere coat“.
“In the 90s, I had the idea of a luxury group and at the time I was very much criticized for it. I remember people telling me it doesn’t make sense to put together so many brands. And it was a success. And for the last 10 years now, every competitor is trying to imitate, which is very rewarding for us. I think they are not successful, but they try,” Bernard Arnault told CNBC in 2018.
According to Insider, in January 2019, Bernard Arnault worked hard and made $4.3 billion (Rs 35,439 crore) in a single day after LVMH shares surged 6.9 per cent.
With a net worth of 185.8 billion dollars (Rs 15,23,290 crore), Bernard Arnault is one of the richest men in the world, Forbes reported. Here’s a look at everything that contributes to his massive net worth.
Main sources of income – LVMH and various investments
Bernard Arnault is the chairman of LVMH Moet Hennessy Louis Vuitton, the world’s largest maker of luxury goods. He controls about half of LVMH, which had a revenue of $76 billion (Rs 625784 crore) in 2021, Bloomberg reported.
For the unversed, LVMH controls several subsidiaries, each of which manage many famous brands – Christian Dior, TAG Heuer, Bulgari, Fendi, Givenchy, Celine, Sephora, and Tiffany & Co.
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That’s not all, Bernard Arnault also owns and controls Groupe Arnault, a principal investment firm. Netflix had received a $30 million (Rs 247 crore) investment from Group Arnault in 1999, Variety reported. He also has stakes in real estate development company Blue Capital, French food chain Carrefour and online retail company Boo. He bought Princess Yachts, one of Britain’s oldest luxury motorboat manufacturers in 2008.
Yachts and jets
After acquiring the luxury Dutch Yacht manufacturing firm Royal Van Lent and British yacht manufacturer Princess Yachts International for over €300 million (Rs 3010800 crore) and €200 million (Rs 2007200 crore), respectively, Bernard Arnault bought a luxury yacht named Symphony, which is among the world’s top 100 superyachts, Lifestyle Asia mentioned. With six decks, the yacht can accommodate 36 passengers. It also has a helicopter pad and has a gross tonnage of nearly 3,000 GT. You’ll find everything luxury on the sailboat –Jacuzzi, a sauna, private office, cinema, golf area and gym. In 2015, he sold Amadeus, a superyacht built in 1969, as per Lifestyle Asia.
Arnault also owns Dassault Falcon 7X. He bought the private jet for $40 million (Rs 329 crore), as per Lifestyle Asia. He previously owned a Bombardier Global Express 6000 and a Bombardier Global 7500.
Extensive property portfolio
He owns some of the most expensive properties around the world. Arnault lives with his family in a mansion worth 200 million dollars (Rs 1648 crore), Magicbricks quoted. Built on 12 acres, the house has 12 bedrooms and bathrooms, a ballroom, a library, and a dining room. It also has a private lake, a wine cellar, tennis court, and underground parking space.
Arnault often travels to Saint-Tropez and stays at his vacation home. According to Business Insider, Saint-Tropez is a 270-acre gated community where homes on an average cost $13 million (Rs 107 crore).
He also has a luxurious property in the French Alps. The property has 34 rooms, a private Chalet, a penthouse pool, Jacuzzi and sauna, as per Magicbricks. The billionaire also owns residential properties worth $96.4 million (Rs 794 crore) in Los Angeles, Beverly Hills, and Hollywood Hills.
LVMH has a few hotels including Cheval Blanc and Belmond Hotel.
As per Lifestyle Asia, Arnault also owns a private island called Indigo Island in the Bahamas. The 135-acre island offers retreats at $300,000 (Rs 247 lakh approx) per week.
Art collection
Arnault loves to collect art –While the valuation of his collection is not known, his collection includes works by Picasso, Yves Klein, Warhol and Henry Moore among others. Arnault has also built the Louis Vuitton Foundation which is dedicated to the creation of contemporary art. Every year, the foundation organises two exhibitions, one of modern art and another of contemporary art.