When we Talk about Business. There are Few people who Came in our Mind Bernard Arnault is one of them. So Let’s Start Our Topic bernard arnault success story that’s Motivate Us and also about bernard arnault net worth,bernard arnault business any more about Bernard Arnault.
List of Content.
- Early life
- Bernard Arnault Graduation
- Bernard Arnault net worth
- Bernard Arnault awards
Bernard Arnault Early life And Education.
He was born as Bernard Jean Etienne Arnault on the 5th of March 1949 in Roubaix, France as the son of Jean Leon Arnault (Bernard Arnault Father). His father was a manufacturer who owned a civil engineering company, Ferret-Savinel.
He attended Maxence Van Der Meersch High School in Roubaix. After completing his School education, he entered the Prestigious Ecole Polytechnique and graduated with a degree in engineering in 1971.
Bernard Arnault Graduation and Career.
Bernard became involved in his father’s business after Completing graduating from college, and he planned for the company to expand its horizons and become involved in other more profitable businesses.
His first action within the company was to convince his father (Jean Leon Arnault) to disband the construction division and reap the benefits. After the construction was dissolved, the family began investing in real estate and became quite successful in doing so.
Story of Business.
Bernard Arnault became the director of company development in 1974, and was named the CEO in 1977. He succeeded his father (Jean Leon Arnault) as president of his company in 1979.
The French Socialists came to power in 1981, forcing Arnault and his family to move to the United States of America. Being the astute businessman that he was, he prospered there too, developing condominiums in Palm Beach, Florida. Eventually he began to build a U.S. branch of his family’s property business.
The political scenario in his native France changed in 1983. The French Socialists switched to a more conservative economic course and Arnault decided to return home (France).
Arnault invested $15 million of his own money, and Bernheim helped him to raise the reminder of the reported $80 million purchase price of Boussac Saint-Frères. Upon this acquisition, Arnault sold most of the company’s assets, retaining only the prestigious Christian Dior brand and Le Bon Marché department store. He became the CEO of Dior in 1985.
After selling off most of the assets of Boussac, Arnault gained $400 million in the process. In 1987, he was invited to invest in LVMH by the company’s chairman, Henri Racamier. Arnault chose to invest through a joint venture with Guinness PLC that held 24% of LVMH’s shares. Over the next couple of years, he continued to buy more shares in the company, spending several hundred millions in the process.In order to Become Successful.
After taking over LVMH, he fired several of the company’s top executives and chose to recruit new talent to revitalize the company. He was a tough taskmaster and was known for his inclination to quickly terminate employees who did not provide their best or deliver according to his expectations.
He set about implementing an ambitious plan of growth and expansion of his businesses and acquired several other companies over the 1990s, including the perfume firm Guerlain (1994), Loewe (1996), Marc Jacobs (1997), Sephora (1997), and Thomas Pink (1999). In order to Become Successful.
Bernard Arnault Awards.
1). Arnault was made a Commander of the French Legion of Honour in 2007 and Grand Officer of the French Legion of Honour in 2011.
2). In 2011, Bernard Arnault was presented with the Corporate Citizenship award from the Woodrow Wilson International Center for Scholars.
Bernard Arnault Net Worth.
The Current Net Worth of the billionaire is 19,630 crores USD which is highest in the world right now.
Bernard Arnault Family.
Bernard Arnault has been married twice. His second wife, Helene Mercier is a pianist. He has two children from his first marriage, and three from his second.Four of Arnault’s five children work in corners of the LVMH empire: Frédéric, Delphine, Antoine and Alexandre.
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