Bernard Arnault (born 5 March 1949) is a French businessman. He is the 7th richest person in the world and France's richest person with an estimated net worth of $26 billion in Forbes Magazine retrieved on March 8, 2007. LVMH, is a French holding company and the world's largest luxury goods conglomerate. It is the parent of around 60 sub-companies that each manage a small number of prestigious brands. These daughter companies are, to a large extent, run autonomously. The group was formed after mergers brought together champagne producer Moët et Chandon and Hennessy, a leading manufacturer of cognac. In 1987, they merged with fashion house Louis Vuitton to form the current group.
