Bernard Arnault, the 74-year-old CEO of LVMH Moët Hennessy Louis Vuitton, is the world's richest man with an estimated net worth of over $200 billion. While the majority of his wealth comes from his luxury goods empire, Arnault has also established himself as a prominent investor, backing a variety of high-growth startups.
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Since the 1990s, Gupero Arnault has backed technology companies, with some of its notable investments including Netflix Inc. in 1999, Spotify Technology in 2014 and Airbnb Inc. in 2015. In recent years, Groupe Arnault-backed venture capital firm Aglaé Ventures has continued the trend, investing in companies such as TikTok parent ByteDance Ltd., Lyft Inc. and Databricks.
Aglaé Ventures invests in "asset-light activities and fast-growing tech companies at all stages," with a particular interest in marketplaces, software as a service (SaaS), content platforms and digital native brands. Aglaé Ventures has participated in 65 funding rounds totaling $3.4 billion, according to Dealroom.
While most of the companies in Aglaé Ventures' portfolio are based in Europe, the firm claims to invest globally in Series B funding rounds before companies launch their initial public offerings (IPOs). One of the highest-valued companies in the portfolio is France's Back Market, a secondhand tech marketplace valued at $5.7 billion.
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Aside from his Aglaé Ventures portfolio, Arnault also invests in other high-growth companies. He made headlines in 2021 with LVMH's acquisition of Tiffany & Co. for $15.8 billion, the largest luxury brand acquisition in history.
In the fashion world, CEOs typically hail from a background in design or retail. But Arnault got a more unconventional start. He began as an engineer and property developer in his family's construction company in northern France. In the 1970s, Arnault ventured into holiday accommodations, starting his own development business. He sought out an enterprise he could scale with international reach, ultimately acquiring Boussac, a struggling textile and retail empire that includes the coveted House of Dior.
Arnault's highly effective yet ruthless methods turned Boussac around and solidified his reputation as "a force to reckon with in French business," though his exclusive approach to luxury brands has earned him both ardent fans and vocal critics who dubbed him "the wolf in cashmere."
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Arnault sold off most of the other businesses and reinvested the cash into his next targets, Moët Hennessy and Louis Vuitton, which merged into LVMH in 1987.
His investments have propelled him to the top of Forbes' annual billionaires list in 2023, cementing his status as one of the world's most influential business figures.
As Arnault once said, "To be successful, you have to be confident in yourself and your abilities."
This unwavering self-assurance has been a driving force behind Arnault's success, allowing him to make bold moves and take calculated risks throughout his career. His philosophy on leadership also emphasizes the value of people, as he believes that a company's most valuable asset is its employees.
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