These Are The Biggest Philanthropic Ventures Of Bernard Arnault
Elon Musk had a lot of moneymaker businesses, but when he lost about $200 million of riches, it opened the door for someone to be hailed as the richest man in the world. That someone is the 73-year-old co-founder and CEO of LVMH, Bernard Arnault. LVMH operates a wide selection of iconic and luxurious brands in the world including Louis Vuitton, Tiffany and a lot more.
With the riches of the wealthiest man in the world, he has more money to give. Since the CEO of LVMH has a pretty generous heart, he has donated hundreds of millions through various causes. Take a look at the biggest philanthropic ventures of Bernard Arnault.
13 Donation Towards The Chinese Red Cross ($2 Million)
During the beginning phase of the global crisis, French luxury conglomerate LVMH donated a total of $2 million to the Chinese Red Cross to help with the affected individuals during COVID-19. Aside from the massive donation, the company also used three of their luxury perfume factories to produce more hand sanitizer in order to help fight COVID globally.Aside from manufacturing alcohol, they also completed the whole thing with the addition of COVID-19 containers and packaging. The weekly production generates about 80 tons. The company also donated alcohol supplies that was stored in their facilities.
12 Donation For Research ($5.5 Million)
Due to the massive impact of COVID-19 to the world, Bernard Arnault felt the need to more and donate more. The CEO decided that a donation towards research towards fighting the coronavirus is necessary.
The $5.5 million was donated to the Pasteur Institute of Lille in France and was used to help fight the virus. At the time, the institution had discovered a molecule that was said to be effective in fighting the virus.
11 Aid In Ukrainian Relief ($5.5 Million)
With the ongoing war between Russia and Ukraine in 2022, Bernard Arnault felt the need to help Ukraine fight their battle. The LVMH group announced that they have allocated a total of $5.5 million donated to International Committee of the Red Cross to help for those who are affected by the war.LVMH released a statement that they are closely monitoring the tragic situation and recent happenings in Ukraine. Their first concern is the well-being of their 150 employees in Ukraine and they have already provided their employees with the essential financial and operational aid.
10 Donation Towards Climate Change ($5.5 Million)
Bernard Arnault headed his company, LVMH, and partnered with UNESCO to help support biodiversity. LVMH and UNESCO binded in a partnership to help create projects that aim to minimize the impact of climate change in the world and improve the resilience of the ecosystem.Together, they will create projects to assess how the programs will conserve biodiversity, mitigate the effects of climate change and further improve the resilience of the ecosystem while also helping the local communities. There's a total of 41 projects to help the environment.
9 Donation To Hospitals In Paris (Over $10 Million)
Through the years, LVMH has been pretty giving to different hospitals across Paris. The company stepped up and helped France fight the coronavirus by providing equipment and masks to everyone in need. It was reported that LVMH donated a total of 261 ventilators to different hospitals and opened 12 Handbag Factories of Louis Vuitton during the pandemic just to sew protective masks.These donations sums up to tens of millions, not to mention that the production loss since they had to put their product manufacturing on hold.
8 Donation To Help Fight The Fire Across Amazon Rainforest ($11 Million)
Bernard Arnault pledged a total of $11 million to help fight the wildfires that destructed the Amazon rainforest. The richest man in the world announced that LVMH will be contributing the said amount help with the damage done by the wildfire. The French luxury conglomerate joined the initiative to protect the Amazon rainforest from further damage.
Satellite data shows that about a soccer pitch size of the Amazon rainforest is lost to the fire every minute that pass by. The fire has affected about three million species of plants and animals as well as about a million indigenous people. The fire will also have a massive effect on the world as Amazon rainforest is often referred to as the lungs of the world since it helps in the production of oxygen and the absorption of carbon dioxide.
7 Donations To Restore Notre Dame ($200 Million)
Bernard Arnault donated a total of $200 million towards the restoration of Notre Dame. The chairman of French luxury conglomerate LVMH pledged the amount following the fire that ravaged the widely known Paris landmark. The said donation sparked some outrage after numerous groups called out Bernard Arnault for donating too much.
A lot of people believed that the businessman should have allocated the $200 million donation across different causes. Bernard Arnault's donation was followed with a $100 million by his arch rival Francois-Henri Pinault. Their donations prompted doubt on their causes speculating that the they are only after the tax break benefit for their church donation.
6
5
4
3 Donation To His Children's Well-Being ($399 Million)
Being the richest man of the world, Bernard Arnault has a massive net worth of $191 billion. Since the world has been kind to him, he has been very generous in giving back to the community. His children has also been recipients to his gift-giving nature. Bernard Arnault reportedly distributed a total of $399 million worth of shares to his children, including Antoine and Delphine.Bernard Arnault donated the shares from the LVMH Moët Hennessy Louis Vuitton and Christian Dior SE. The donation was shared by his five children, there's no report on the siblings split the said donation.
2
1
Sources: Reuters, UNESCO, The Art Newspaper
from TheRichest - Feed https://ift.tt/YzeAfOh
Post a Comment