If you’re one of the many fashion lovers out there, you might have wondered how much money the CEO of Louis Vuitton makes. Well, wonder no more! In this article, we’ll explore the compensation of Bernard Arnault, the CEO of LVMH (Louis Vuitton Moët Hennessy) – the parent company of Louis Vuitton.
Who is Bernard Arnault?
Firstly, let’s talk about who Bernard Arnault is. He was born on March 5th, 1949 in Roubaix, France. He is a French businessman and art collector who is currently the Chairman and Chief Executive Officer of LVMH.
Arnault’s father owned a construction company and after graduating from École Polytechnique with an engineering degree, Arnault joined his father’s business. However, he eventually left to work for his own company – Ferinel – which sold holiday accommodation.
The Rise of LVMH
Arnault’s association with LVMH began in 1984 when he invested in Boussac Saint-Frères – a bankrupt textile company which owned several brands including Christian Dior. He became the CEO of the newly formed holding company that acquired these brands and renamed it to LVMH.
Under his leadership, LVMH grew exponentially by acquiring several other luxury brands such as Fendi, Givenchy, and Marc Jacobs among others. Today, LVMH has over 70 luxury brands under its umbrella including Louis Vuitton which is undoubtedly its most famous brand.
How Much Does Bernard Arnault Make?
Now onto the question that brought you here – how much does Bernard Arnault make? According to Forbes’ Real-Time Billionaires List as at September 2021, Arnault has a net worth of over $160 billion which makes him one of the richest people in the world. However, it’s difficult to pinpoint exactly how much he makes as the CEO of LVMH.
Compensation
In 2020, LVMH declared that Arnault’s total compensation was €9.29 million (approximately $10.9 million) which included a fixed salary of €1.4 million and variable compensation of €7.89 million. Variable compensation is often performance-based and can include bonuses, stocks, and other incentives.
However, it’s important to note that Arnault’s compensation is not limited to his role as CEO of LVMH. He also owns a significant stake in the company which contributes significantly to his wealth.
The Bottom Line
In conclusion, while we can’t say exactly how much Bernard Arnault makes as the CEO of Louis Vuitton, we do know that his net worth is in the billions and he receives millions in compensation from LVMH. His leadership has been instrumental in making Louis Vuitton one of the most iconic luxury brands in the world and continues to drive growth for LVMH as a whole.
9 Related Question Answers Found
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