François Pinault just gave $109 million to help rebuild the Notre-Dame. Meet the French billionaire who owns Christie's and founded the luxury giant behind Gucci.
- The Pinault family finalized its $109 million gift to help rebuild Notre-Dame on October 1, nearly six months after the cathedral caught fire, according to the Associated Press.
- François Pinault is the founder and owner of Kering luxury group, which includes several iconic fashion houses, including Gucci and Alexander McQueen.
- Pinault started out working for his family's timber company before eventually entering the retail market.
- Today he is the second-richest person in France, behind Bernard Arnault, and the 23rd-richest person in the world.
François Pinault, currently the second-richest person in France, finalized his $109 million gift to help rebuild the Notre-Dame Cathedral on October 1, according to the Associated Press.
Soon after the Cathedral caught fire in April, Pinault's son announced that the family would donate €100 million, or $113 million, to repair the 800-year-old building. In the aftermath of the devastating fire, France's superrich collectively pledged over €400 million, or $452 million, to the iconic cathedral's repairs; that includes fellow fashion mogul Bernard Arnault, who also announced that he'd be pledging $226 million to the cause. However, in the ensuing months, many of those promises were left unfulfilled.
François Pinault is tied to some of the biggest names in fashion: Gucci, Alexander McQueen, and Yves Saint Laurent. As the owner of Kering luxury group, his family manages over a dozen high-end brands.
Alongside other major holdings, such as a winery in Bourdeaux and a cruise line in Marseille, Pinault is one of the world's biggest private art collectors. His collection includes over 3,000 works of art and is worth over $1.2 billion.
Keep reading for a deeper look at Pinault's life, from his company's origins to his most recent business investments.
François Pinault is one of the most powerful men in the fashion industry.
According to Bloomberg, he is the 23rd-richest person in the world with a net worth of $34.3 billion ...
Source: Bloomberg
The richest man in France is Bernard Arnault, who controls LVMH, the world's largest luxury group.
Source: Forbes, The Guardian, New York Times
Over the years, Pinault's successful career has included many calculated business moves and key partnerships. However, some of his most important decisions were made early on in France, where his company originated. Pinault was born in Les Champs-Géraux, a commune in Brittany, France.
Source: Google Maps, Britannica
In 1963, Pinault founded Établissements Pinault, a timber trading company, in Rennes, France. Pinault also briefly attended College Saint-Martin in Rennes, but left school at age 16.
Source: Kering, The Guardian, Bloomberg
In 1988, the company first appeared on the Paris Stock Exchange and two years later, in 1990, the company took on retail distribution.
Source: Kering
In 1994, the company became Pinault Printemps Redoute after acquiring La Redoute, a French mail-order retailer, and Le Printemps, a major French department store chain.
Source: Kering
After several years in retail, the company began shifting its focus to luxury in 1994 after purchasing a 42% stake in the Gucci Group.
Source: Kering
The acquisition of Gucci followed a nearly two-and-a-half-year battle with fellow billionaire Bernard Arnault. The New York Times previously labeled the legal war "one of the most bitter fights in corporate history."
Source: New York Times
In 2005, Pinault Printemps Redoute shortened its name to PPR. Pinault has three children; his son, François-Henri Pinault, was named the company's new face and CEO.
Source: Kering
Under his son's direction, the company continued to acquire brands, with a special interest in luxury fashion houses ...
Source: Kering
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