[Country]'s richest

Bernard Arnault, born in 1949 to a wealthy industrial family, is a French business magnate and Europe’s richest man. He is the founder, chairman, and CEO of LVMH Moët Hennessy Louis Vuitton, the world\'s largest luxury goods company. After studying at the prestigious French engineering school École Polytechnique, he took over his father\'s construction company, Ferret-Savinel, at 27 and transformed it into a real estate business.

In 1984, Arnault laid the groundwork for his luxury goods empire by acquiring the deficit-stricken Boussac group, the owner of the glamorous Christian Dior brand. After taking control of the group, he sold nearly all of the company’s assets, keeping only Christian Dior and Le Bon Marché department store, and laid off 7,000 workers. Arnault\'s entry into the luxury market was facilitated by his position as president of Christian Dior. Through his holding companies, Financière Agache and Agache, he gained control of many luxury firms. Aided by the stock market crash in 1987, he acquired shares in the LVMH group at a very low price to become the largest shareholder.

Since 1989, Bernard Arnault has been the CEO and controlling shareholder of LVMH, which owns luxury brands like Louis Vuitton, Givenchy, and Sephora. The group has acquired numerous luxury brands across fashion, beauty, jewellery, wine, and alcohol over the years. LVMH stands as the world\'s wealthiest luxury conglomerate today, significantly contributing to Arnault\'s wealth.

While often hailed as a "self-made man," Arnault\'s rise is a combination of shrewd business strategy and his grasp of the system. On the other hand, he became CEO at 27 thanks to his father, and he acquired the Boussac group, the owner of Christian Dior, thanks to enormous subsidies from the state, financial aid from oil companies and banks, and his small family fortune. The European Commission later classified these state subsidies as distorting competition between member states.

He possesses two hôtel particuliers and three luxury hotels in Paris, the Saint-Rémy-des-Landes castle, and a villa in Saint-Tropez on the French Riviera. In 2000, he acquired Nyn Park, a 129-hectare piece of land north of London, where he built a luxury villa. He also owns a 54-hectare private island in the Bahamas. In 2022, he acquired Milan\'s iconic mansion, Casa degli Atellani, whose vineyard was owned by Leonardo Da Vinci. Bernard Arnault’s ownership extends to multiple vineyards all over the world. The billionaire also bought a 101-meter yacht valued at 150 million euros.

Bernard Arnault, through LVMH and its foundation, stands as one of France\'s most generous philanthropists in art, culture, and solidarity. His commitment lies in promoting French culture, particularly the historical heritage of elegance, beauty, and luxury, along with the grandiloquent image of Paris projected internationally. For instance, Dior is a key benefactor of the Versailles castle, while the LVMH foundation provides financial support for cultural initiatives, artists, and festivals. Following the Notre Dame fire, he contributed 200 million euros toward the cathedral\'s restoration, and he has made various donations during the Covid-19 pandemic.

Arnault benefits from France\'s generous tax deduction system for donations. LVMH regularly uses this system, sometimes drawing criticism and being accused of using philanthropy to polish its image. While accurate data on his philanthropic contributions in relation to his overall wealth is lacking, it is likely a tiny fraction.

During the Paradise Papers in 2017, Le Monde revealed that Arnault placed holdings in six tax havens, although he denies any wrongdoing.

Bernard Arnault does not officially endorse any political party. He maintains close ties with political figures, like his informal support for Emmanuel Macron in both presidential elections. He praised some of Macron\'s reforms, endorsing him via media outlets like Les Echos, which he owns. He also served as Nicolas Sarkozy\'s best man, the former right-wing French president, during his wedding.

His control of the media landscape bolsters Arnault\'s quiet yet potent influence. His control over press freedom is implicit but present. For instance, the French newspaper Liberation had advertisements retracted after criticising Arnault, leading to financial issues for the media company. Following Le Monde\'s revelation of his use of tax havens, he reportedly withdrew 600,000 euros worth of advertising from the newspaper.

Bernard Arnault is often portrayed as a job creator and a cultural ambassador for France. He maintains a low profile, occasionally communicating through media interviews and shareholder assemblies. However, some cases have tarnished his image, prompting him to use his media influence to restore his reputation despite facing criticism for it.

He employs a private security team to protect his image, which was exposed in the documentary "Merci Patron" released in 2016. Journalist François Ruffin, now a left-wing deputy, used hidden cameras to shed light on his practices. This film also shed light on Arnault\'s business strategies\' collateral impact on French society, in particular, the practice of outsourcing French jobs to foreign labour. The film’s success is often cited as a factor in the rise of the Nuit debout movement, an Indignados/Occupy-style movement protesting labour reforms in the Spring of 2016 in France.

Arnault draws substantial criticism for his attempts to escape tax regulations. In 2012, he sparked heated debates by attempting to acquire Belgian citizenship, widely believed to be for tax reasons. More recently, climate activists tracked his private jet to unveil his environmental impact to the general public. It was then estimated that his carbon footprint in May 2022 equalled the average French person over a period of 17 years.