Francois Pinault Net Worth is$15 Billion
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Profession: Businessperson | Financier | Entrepreneur
Date of Birth: Aug 21, 1936
Nicknames: Francois Pinault
Country: France
Francois Pinault net worth: Francois Pinault is a French luxury goods mogul who has a net worth of $15 billion. Francois Pinault is the founder and majority shareholder of fashion conglomerate PPR. Francois Pinault got even richer in 2012, thanks to the stock market success of his company. His group holds prestigious fashion houses like Gucci, Stella McCartney, Alexander McQueen and Yves Saint Laurent. In addition to PPR, Pinault also holds the company Artemis S.A., which among other things, owns Converse shoes, Samsonite luggage, Chateau Latour, the Vail Ski Resort in Colorado, as well as Christie's auction house. As for Pinault's personal art collection, it includes more than 2000 works by the likes of Picasso, Mondrian and Jeff Koons. In March 2013, Forbes estimated his net worth at $15 billion, making him the 53rd richest person in the world and the 3rd wealthiest man in France. The affluent businessman and friend of former French President Jacques Chirac, is married and has three sons. His son Francois-Henri was in the headlines last year, settling a child support battle with supermodel Linda Evangelista over their son Augie, born in 2006. Henri married actress Salma Hayek in 2009, plus, he runs his father's Groupe Artemis.
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 Latest News

Italy Honors François Pinault for Luxury and Art Achievements

TOP HONORS: The Italian government has honored François Pinault for his support for Italian luxury brands and his contributions to the art world, namely through his Palazzo Grassi and Punta della Dogana contemporary art museums in Venice. Italy’s ...
Posted: November 4, 2016, 1:07 pm

Why Sotheby’s and Christie’s Don’t Operate Like Other Duopolies

but Christie’s is a privately held company (owned by art collector and French luxury-goods magnate François Pinault) and thus does not. Perhaps an even more interesting question: If Sotheby’s did cut back on its terms significantly but Christie’s ...
Posted: November 24, 2016, 9:37 pm

Our 10 Fave Photos From the 2016 Fashion Awards — Starting With ‘Fashion Icon’ Jaden Smith's New Grill

5. Getting a Leg Up. We can imagine Salma Hayek‘s hubby, billionaire businessman François-Henri Pinault, who owns Gucci, saying, “Come on, honey, show some more leg.” (Of course, she is wearing Gucci.) 8. Karlie Kloss Knows Her Best Angle.
Posted: December 6, 2016, 10:11 am
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