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Francois Pinault is a French businessman who has a net worth of $28.4 billion as of 2019.
He is the founder and CEO of Artémis, a holding company that owns brands such as Christie’s auction house, and LVMH, the world’s largest luxury-goods company.
Born on 21 August, 1936, Pinault started his career in the family business, retail. In the early 1990s, he branched out into luxury goods, buying up brands such as Gucci and Yves Saint Laurent.
In 1993, he founded Artémis with the goal of consolidating his luxury holdings.
Today, Artémis owns stakes in a number of major companies, including LVMH, Kering (which owns brands like Gucci and Saint Laurent), and Balenciaga.
Pinault is also the owner of Château Latour, one of the most prestigious wineries in France.
Thanks to his successful business ventures, Pinault is one of the richest people in the world. He has a net worth of $28.4 billion as of 2019, making him the 97th richest person in the world.
In addition to his business interests, Pinault is a major philanthropist, donating millions of dollars to charity each year.
Francois Pinault is a French businessman who runs the holding company Artémis, which owns a number of luxury brands including Gucci and Yves Saint Laurent.
Francois Pinault Net Worth : Who is Francois Pinault?
Francois Pinault is a French businessman who is the founder and CEO of the Kering Group.
The Kering Group is a luxury goods company that owns brands such as Gucci, Yves Saint Laurent, and Alexander McQueen.
Pinault was born in Paris, France in 1936. He started his career as a French businessman as an assistant to Francois Dalle, who would eventually become the CEO of PPR.
In 1982, at age 36, he founded and became the chairman of Gucci Group NV after acquiring a majority share of Gucci.
In 1993, Pinault launched the first Yves Saint Laurent men’s collection and two years later, he acquired the brand. In 2001, he merged his Gucci Group with PPR, which is now known as the Kering Group.
Pinault is a major art collector and owns pieces by artists such as Damien Hirst, Jeff Koons, and Picasso. He also owns the Palazzo Grassi in Venice, Italy, which he opened as a museum in 2005.
Pinault is a major philanthropist and has given millions of dollars to various causes, including the restoration of the Palace of Versailles.
He is also the founder of the Pinault Foundation, which supports art and culture initiatives.
Pinault is a self-made man and his company the Kering Group has surpassed $4.7 billion in revenue as of September 2011.
He is also one of the richest people in France, with Forbes estimating his net worth at $13.4 billion as of May 2012. He is married to Salma Hayek and the couple has one daughter.
Net worth of Francois Pinault :
Francois Pinault is a French entrepreneur who is the founding partner, chairman and CEO of the luxury goods holding company known as PPR.
Francois Pinault has an estimated net worth of $16.1 billion as of 2012 which is accumulated by his shares in the luxury goods companies for which he serves as CEO or chairman.
Francois Pinault also has a large real estate portfolio which he has been gradually selling off over the past few years.
PPR is one of the world’s leading luxury goods companies with brands such as Gucci, Yves Saint Laurent, Bottega Veneta, Balenciaga, Brioni, and Sergio Rossi.
The company is listed on Paris and New York stock exchanges and generated revenue of $9.6 billion in 2013.
On March 31, 2014, François Pinault announced that he would be stepping down as CEO of Artemis, the parent company of Gucci Group and PPR while remaining chairman of the group.
He was succeeded by his son Francois-Henri Pinault.
François Pinault is a very private individual and there is little known about his personal life.
What is known is that he is married to Belgian actress Salma Hayek and the two have a daughter together. François Pinault also has two children from a previous marriage.
Despite being one of the richest people in the world, François Pinault is known for his modest lifestyle. He and his wife live in a relatively small apartment in Paris and he drives a modest Renault car.
François Pinault is an interesting figure in the world of business and his net worth is sure to continue to grow in the years to come.
Career and education :
Pinault got his start in business as a salesman for his father’s construction company. He soon started his own business, selling building materials.
In the 1980s, he began to invest in the luxury goods market.
In 1987, Pinault founded the Kering Group. The company started out as a distributor of luxury brands such as Gucci and Yves Saint Laurent.
Over time, Pinault has grown the company into one of the world’s leading luxury goods corporations.
Pinault has an estimated net worth of $28.4 billion dollars, making him the 60th richest person in the world.
He is also one of just 18 billionaires with a self-made fortune greater than $10 billion dollars.
As of 2015, Pinault still serves as CEO and chairman at Kering. The company has a workforce of over 20,000 employees and annual sales revenue in excess of $8 billion dollars.
In the past, Pinault had shown little interest in art.
But his son François-Henri—now the CEO of Kering, a luxury-goods conglomerate that includes brands such as Gucci and Saint Laurent—had been bitten by the bug.
He had started collecting art in the late seventies, when he was a student at Princeton, and his father began to take an interest in it, too.
In the early nineteen-nineties, Pinault decided to start lending his collection to museums around the world. “I was fed up with people telling me that my son’s paintings were too ugly for them to put on display,” he later told.
“The art world was starting to take François-Henri seriously,” says Christine Ollier, who has been the curator of Pinault’s collection since it opened in Paris.
Achievements :
Since François Pinault founded his business in 1980, the Group has grown through a well-diversified portfolio of companies with core competencies in four categories.
As well as retailing and real estate management, these are luxury goods, media, and industrial holdings. The Group has built an international presence, with a presence in more than 120 countries.
Pinault’s business acumen is perhaps best illustrated by the company’s growth in the luxury goods sector.
In 1989, Pinault acquired Christofle, the French manufacturer of silver and crystal tableware. The following year, he purchased Bvlgari, Italy’s top jewelry and watch-maker.
In 1994, Pinault founded the Gucci Group out of a 50/50 merger between these two businesses. He added Yves Saint Laurent in 1999 and Pomellato in 2001.
When the luxury goods market took off in the late 1990s, Gucci was well placed to capitalize on the boom.
Pinault has also been successful in the media sector.
In 1994, he founded the PPR Group, which owns a number of leading European media titles, including: The Daily Telegraph (UK), Le Figaro (France), El País (Spain), and La Repubblica (Italy).
The PPR Group is also the world’s leading luxury goods distributor, with brands such as Cartier, Van Cleef & Arpels, and Montblanc.
In the industrial holdings sector, Pinault’s most notable acquisition was the German sportswear company Puma, which he bought in 2007 for €6.2 billion.
PPR also owns the skiwear firm Rossignol, which it acquired in 1999.
Pinault is known as one of France’s most active art collectors, with an impressive collection containing works by Andy Warhol, Pablo Picasso, Roy Lichtenstein and Jeff Koons.
Francois Pinault In News :
- French billionaire Pinault reported in pursuit of Ponant
- François Pinault’s Paris Museum Is Finally Ready for Its Close-up
Francois Pinault Interviews :
FAQs on Francois Pinault
How did François Pinault amass his wealth?
François Pinault is the founder and CEO of the Kering Group, a French multinational company that specializes in Luxury, Sportswear and fashion. The group owns many well known brands such as Alexander McQueen, Brioni, Volcom and Stella McCartney to name just a few. François Pinault amassed his wealth through this company.
How has the net worth of François Pinault changed over the years?
The net worth of François Pinault has gone up and down over the years. His wealth is mainly tied to that of the Kering Group, which saw a substantial increase in net worth during 2016. The net worth of François Pinault went up by $2 billion during this year alone! Before this, his wealth had decreased in 2014 and 2015.
What is the estimated net worth of François Pinault?
The current estimate of the net worth of François Pinault is $28.4 billion US dollars as far as 2017 goes, according to Forbes magazine. This amount ties him with Stephen Schwarzman as the 83rd richest person on the earth.
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Conclusion – Francois Pinault Net Worth 2024
François Pinault is a French business tycoon and internationally recognized art collector, who was admitted to the World’s Billionaires Club in 1999.
François Pinault owes his wealth and status to his father and predecessor in the family business.
François Pinault gained control of the family’s business, then founded Gucci Group NV, later renamed PPR.
Subsequently, Pinault has made his company the world leader in luxury brands manufacturing.
