Francois Pinault & Family Net Worth is$13 B
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FranA?ois Pinault (born 21 August 1936) is a French businessman who runs the retail company PPR. He is a friend of former French President Jacques Chirac.
Pinault's holding company Artemis S.A., owns (or owned), among others, Converse shoes, Samsonite luggage, ChA?teau Latour, the Vail Ski Resort in Colorado, and Christie's auction house. Artemis also owns Executive Life (now Aurora Life) in California, which was sued by policy holders when the company failed.
Pinault owns one of the biggest collections of contemporary art worldwide. On the magazine ArtReview's 2006 list of most powerful people in modern art, he was ranked in first place. In 2006 he obtained the ownership of Palazzo Grassi in Venice to display the collection. He has collected works by Damien Hirst.
Pinault led PPR through a long battle over control of Gucci, the Italian fashion house, which began with an attempted takeover of Gucci by LVMH, the world's largest luxury goods company. In March 1999, Gucci asked PPR to acquire an ownership interest in Gucci to help fend off LVMH. The result was a struggle between the two richest men in France, both self-made billionaires a?? Pinault and Bernard Arnault, the Chairman of LVMH.
The dispute ended in September 2001, when LVMH agreed to sell its shares in Gucci to PPR for $94 a share. As part of the agreement, PPR promised to tender for the balance of the publicly traded shares at a later date. It completed that buy-in in July 2004 and took full control of Gucci.
In 1998, Pinault purchased a majority share of Christie's auction house. In February 2000, A. Alfred Taubman, majority shareholder of rival company Sotheby's stepped down amidst a scandal after the Federal Bureau of Investigation had investigated commission-fixing between the two companies. Pinault was not implicated, but rather it was his actions which precipitated the scandal. He fired Christie's CEO Christopher Davidge over an allegation of extravagant spending. Davidge then admitte

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Francois Pinault & Family Latest News

Head of France's Pinault family investments to go solo

Artemis, set up by billionaire businessman Francois Pinault, has a stake of just over 40 percent in Kering - a group that spans labels such as Gucci and Alexander McQueen, and also owns Christie’s and wines such as Chateau Latour. Its consolidated assets ...
Posted: November 29, 2017, 1:37 am

Artemis CEO to Step Down

Kering chief executive Francois-Henri Pinault will take over Barbizet’s executive role in January, a spokesperson for the company said. During her nearly three-decade tenure managing investments for the family, Barbizet helped to transform its business ...
Posted: November 29, 2017, 5:18 am

Kering Hosts Party to Celebrate Agnès Varda’s Honorary Oscar

“She inspires me every day. You only need to see her vitality, her energy.” François-Henri Pinault, chairman and chief executive officer of Kering, noted that Varda was one of the first participants of the French luxury conglomerate’s Women in ...
Posted: December 12, 2017, 10:30 am
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