Bernard Arnault, with businesses in Mallorca, is the richest man in the world

Bernard Arnault, with businesses in Mallorca, is the richest man in the world

The French businessman owns the LVMH group, which owns luxury brands such as Dior, Louis Vuitton or Marc Jacobs

Arnault is a businessman who has a hundred luxury brands in his portfolio, including Bvlgari, Christian Dior, Louis Vuitton and Givenchy. In Majorca he owns the Louis Vuitton store in Borne de Palma and the mythical Hotel La Residencia in Deià.

Born in Roubaix, this 73-year-old Frenchman has a fortune of 186.2 billion dollars, an amount that makes him, for now, the richest man in the world according to Forbes magazine.

The Frenchman has ousted Elon Musk, the chief executive of Tesla and recently controversial owner of Twitter, from his position. This past Monday, the shares of his company Tesla fell 6.27%, causing the South African to lose first place in this popular ranking.

Born into an industrial family in Roubaix, France, on March 5, 1949, Mr. Arnault attended Roubaix lycée and Faidherbe lycée in Lille. He then went on to study at the Ecole Polytechnique.

He began his professional career that year as an engineer with the construction company Ferret-Savinel and was successively promoted to various executive management positions before becoming president in 1978.

Mr. Arnault remained there until 1984, when he undertook the reorganization of the Financière Agache holding company. He returned the group to profitability while embarking on a strategy to develop the world’s leading luxury goods company. In the process, he reinvigorated Christian Dior as the cornerstone of the new organization.

In 1989, Mr. Arnault became the majority shareholder of LVMH Moët Hennessy – Louis Vuitton, creating the world’s leading luxury goods group. Mr. Arnault has been the company’s president and chief executive officer since that date.

Mr. Arnault is also Chairman of the Board of Directors of Groupe Arnault S.E. (his family holding company of his). Mr. Arnault is married with five children. He has been awarded the honorary titles of Grand Officier de la Légion d’Honneur and Commandeur des Arts et des Lettres.

Melissa Galbraith
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