François-Henri Pinault Net Worth: Francois Pinault is a French businessman worth a billion dollars. He is the creator of the luxury goods conglomerate Kering and the investment holding company Artémis. Pinault was born on August 21, 1936. Pinault began his career as an entrepreneur in the early 1960s by working in the lumber industry.
Following its initial public offering in 1988, his business changed its name to Pinault-Printemps-Redoute and began investing in chains of specialty stores (PPR). PPR has already started to focus more on luxury goods and high fashion by the end of 1999. In 2003, he handed over control of his businesses to his eldest son Francois-Henri so that he could pursue his interest in modern art full-time.
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François-Henri Pinault Early Life
On August 21, 1936, Francois Pinault was born in the commune of Les Champs-Géraux, located in the northern part of Brittany in the western region of France. His father worked in the forestry industry. Pinault spent his childhood in the remote countryside of France, and he got his start in the lumber industry by working for his family’s company.
He was attending the College Saint-Martin in Rennes when he decided to leave school when he was 16. During the Algerian conflict in 1956, he enlisted in the military to fight for his country. After that, he returned to working at the family company, which he had previously sold after the passing of his father.
His marriage to Louise Gautier took place in 1962. They welcomed Francois-Henri Pinault, Dominique Pinault, and Laurence Pinault into the world. The marriage split five years later, and in 1970, Pinault married Maryvonne Campbell, an antique merchant in Rennes who introduced him to the art world. Maryvonne Campbell was the one who first introduced Pinault to the art world. His earliest known acquisitions of works of art date back to this period.
François-Henri Pinault’s Personal Life
Dorothee Lepere was Pinault’s first wife, and the couple wed in 1996. This was Pinault’s first marriage. The pair had two children together before the marriage ended in divorce in 2004, and during their time together, they had the children. After that, Francois began a relationship with the supermodel Linda Evangelista, with whom he welcomed a second child in 2006. After the breakup of this relationship, Pinault started a relationship with the actress Salma Hayek. Ultimately, these two were blessed with a child in 2007 and tied the knot the following year in 2009.
François-Henri Pinault Net Worth
François-Henri Pinault Net Worth: The French billionaire François-Henri Pinault has a net worth of $7 billion. Since 2005, he has served as the head of Kering’s executive team as its chief executive officer. François-Henri Pinault is the founder’s son and current CEO of PPR. François-Henri is the current CEO of the high-end fashion conglomerate Kering, formerly PPR.
Balenciaga, Gucci, Yves Saint Laurent, and a slew of other labels are all owned by Kering. The younger Pinault is the head of Kering and the president of Groupe Artemis, a conglomerate interested in the fashion, wine, luxury, art, and tourism industries. In addition, Salma Hayek, whom Pinault famously wed in 2009, is a well-known celebrity in her own right.
François-Henri Pinault’s Career
Once the younger Pinault was ready to enter the workforce, he had a spot waiting for him at PPR. Within a short period, he was elevated to the purchasing manager position, the first of several promotions he would receive over the years. The year 1990 found him as chief executive officer at Pinault Distribution. Pinault was CEO of several enterprises in the middle to late 1990s, including CFAO and Fnac. In 2003, he took over as president of Groupe Artemis from his father.
When François-Henri was promoted to CEO and President of PPR, the company took another giant leap ahead. Pinault took over as CEO and rebranded the company as the global fashion powerhouse Kering. Gucci, Yves Saint Laurent, Boucheron, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Girard-Perregaux, JeanRichard, Qeelin, Pomellato, Dodo, and Ulysse Nardin were among the companies that the conglomerate later acquired.
Pinault also began devoting more time and energy to sustainability issues and empowering women at this time. PPR had a decline in sales of over 50% but a rise in earnings of over 40%. With a 27% increase in sales in 2018, total revenues reached 15.5 billion euros. Pinault oversaw the divestiture of non-luxury brands, including Puma and Volcom, to focus solely on the luxury market in 2018.
While Pinault was in charge of Kering, the company adopted some unorthodox tactics. The legendary designer’s sales tripled within five years after he hired an accessories designer as Gucci’s new creative director. In another shocking move, he brought in Demna Gvasalia, a designer from Georgia, to be the new creative director of Balenciaga.
Under François-leadership, Henry’s Kering has also been entirely engaged in the eyewear market. The Kering Eyewear line was introduced in 2014. In 2017, this firm collaborated with Richemont to manufacture eyewear for Cartier, Alaia, and Montblanc. As a result, an Italian distribution center measuring 15,000 square meters was built, with the capacity to produce 5 million pairs of sunglasses annually. Kering bought out the ownership of the Danish luxury eyewear maker Lindberg in 2021.
In 2012, Kering reported a revenue of over 10 billion Euros and a profit of 1 billion Euros. In 2020, Kering recorded revenues of $13.1 billion, representing a decrease of roughly 18% compared to the revenues reported in the preceding year.
It was rumored that Pinault and Hayek had left their Bel-Air mansion in 2020. This was likely because plans had already been made to the city to have the house demolished. The couple thought their current 8,000-square-foot home was too small and submitted plans to destroy it in favor of a new 17,500-square-foot structure. The couple must have known the projects would be approved and decided to move out before demolishing the building.
Initially purchased from Kelsey and Camille Grammer in 2007 for $13.5 million, Salma and François have since renovated the home. The property surrounding the house measures slightly under an acre. As could be expected of a billionaire, Pinault possesses a staggering number of mansions all around the world. These residences can be found throughout the French countryside and in major cities like London and Paris. Hayek’s investments in the United States bolstered the couple’s real estate holdings.
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