François Henri Pinault is one of the richest people in Europe and the current CEO of the famous luxury goods giant, Kering. He’s the son of François Pinault, the founder of the Kering brand. However, François Henri Pinault doesn’t solely work at the throne of the family business – he’s also a remarkably successful entrepreneur with a versatile portfolio, awarded many times over the years. François Pinault’s net worth in 2023 is worth roughly $40 billion.
Few people around the world haven’t heard of at least one of Kering’s brands like Gucci, Balenciaga, Boucheron, and Yves Saint Laurent. François Henri Pinault is managing them all – and more under the company’s umbrella. Now the husband of Salma Hayek, the man has led quite an impressive life that we’ll be uncovering throughout this article.
François Henri Pinault’s Net Worth Breakdown:
Most of François Henri Pinault’s wealth comes from the stake his family has in Artemis, the parent company of Kering. While the exact value is unknown, the stake is set at about 42%. He also shares his fortune with his wife, Salma Hayek. It’s important to note that while he owns less than 50% of the shares of Kering through Artemis, he still owns nearly 60% of the company’s voting shares, giving him total control over the company.
Many of Pinault’s income sources and wealth are public information, detailed in various company documents, making it possible to build a careful estimate of his net worth. Let’s dive into a full breakdown of Pinault’s net worth, detailing his assets, and other income streams.
|Contribution to Net Worth
|Family stake in Kering
|Salary in 2022
|$1.4+ million +$7.6 million in bonuses
|Bel Air home
|Clos de Tart purchase
|Total Net Worth
François Henri Pinault Net Worth: Early Life
François Henri Pinault was born on May 28, 1962, in Rennes, France to mother Louise Gautier and father François Pinault. When he was only one year old, his father became a timber trader and used a bank loan to start a timber company.
Fast forward a few years, and the family’s timber business was blooming. By the time François Henri was 16 years old, the company was named Pinault S.A. and listed on the Paris Stock Exchange.
François Henri Pinault studied at the prestigious HEC School of Management and got his degree in 1985. While in college, he interned at the Paris Hewlett-Packard (HP) branch as a software developer and co-founded a CRM company called Soft Computing. The company exists to this day and is managed by his former schoolmate Gilles Venturi. Pinault is still a board member at Soft Computing.
After his graduation, the young François Pinault completed compulsory military service at the French Consulate in Los Angeles and studied technology and fashion.
In the 1990s, Pinault S.A. started focusing on retail and dropped most of the timber trading services. It started buying major fashion brands and eventually became PPR.
This is the same business that will later turn into Kering.
François Henri Pinault Net Worth: Breaking Down His Career
In 1987, François Henri Pinault joined his father’s business. He spent much of the 90s and the beginnings of the 2000s working in the family business, albeit in different subsidiaries.
In 2005, Pinault’s father stepped down from his role as the PPR’s CEO and placed his son at its helm. “It was funny and dramatic and surreal. I knew it was coming, but I never expected it to happen so fast.” – Pinault spoke about this moment. “I was still only 40 years old, and my father was 66 and in great shape, full of plans for PPR. But he had seen too many omnipotent fathers and what they did. I saw how hard this was for him.”
Pinault is still the CEO and President of Groupe Artemis, the parent company of Kering, but this role in the luxury giant is only one part of many in his storied career. Let’s take a look at the details.
Pinault’s Work in Kering
Henri Pinault started working at Pinault SA and soon enough, he joined Pinault Printemps Redoute, or PPR in 1987.
In 1989, he was the head manager of France Bois Industries, followed by his role as the president of Compagnie Francaise de l’Afrique Occidentale, a multinational distribution company for industrial products. In 1990, he was the head manager of Pinault Distributions.
After this role at this company, Pinault became the CEO of Fnac, a French retail chain company in 1997. His focus at the time was on luxury brands. He was also managing CFAO as the company’s CEO.
Since 2005, Pinault has served as the president of Groupe Artemis. The company doesn’t just own luxury retail companies. It holds a diverse selection of businesses, including the French football club Stade Rennais, as well as the auction house Christie’s.
At one point, when PPR owned Bottega Veneta, Boucheron, Balenciaga, Gucci, and Yves Saint Laurent, it was struggling. Gucci, for instance, became part of PPR after a long battle between Pinault’s father and Bernard Arnault, the CEO of LVMH and one of the richest people in the world.
François Pinault’s sharp business instincts and great leadership skills turned PPR into a powerhouse faster than any other company in the fashion world. He worked tirelessly and bought some of the biggest names in the luxury market, which shaped his small business into a global giant.
Thanks to his vision and his hard work, the once-small PPR evolved into a top-tier luxury brand and now ranks among the most successful brands in the world.
The Change to Kering
In 2013, PPR changed his name to Kering. ‘Ker’ refers to ‘home’ in Breton language, sourced from the roots of the business in France’s Brittany region. ‘Ing’ is intended to conjure up movement, according to Pinault.
François Henri Pinault as Kering’s CEO: Most Notable Acquisitions
When Pinault took the reins as the CEO and president of the company, he brought his talent for leadership as well as his fierce determination. He steered the brand toward a strong position in the fashion world.
It was precisely because of this type of leadership that the brand made its boldest (and most successful) moves, snatching up names like Gucci, Dodo, Qeelin, Pomellato, Balenciaga, Jean Richard, and Ulysse Nardin.
In 2014, he launched Kering Eyewear, expanding the business into the highly profitable eyewear industry. Three years later, Kering partnered with Richemont and started producing eyewear for Montblanc, Alaia, and Cartier, followed by the development of a logistics center that spread across over 15,000 square meters in Italy.
More recently, in 2021, Pinault decided to acquire the Danish luxury brand for eyewear Lindberg and add it to the Kering umbrella.
In 2018 alone, the company experienced growth in profits of 27%, equaling 15+ billion euros.
His journey wasn’t without challenges, though. In 2007, Pinault acquired Puma, the German sportswear brand. In 2011, he added a surf and skate company to the portfolio called Volcom.
He initially envisioned these acquisitions as a means to create a new lifestyle and sports wear division for the brand. However, the profitability of the division simply couldn’t compare with Kering’s other brands, so he decided to sell both brands and focus exclusively on luxury goods.
The most recent acquisition of the Pinault family company was that of the Creative Artists Agency or CAA. This is the Hollywood talent agency with clients like Salma Hayek, Pinault’s wife, as well as Margot Robbie, Tom Hanks, and Jenifer Aniston.
The luxury deal was valued at $7 billion, giving Pinault a 35% stake in the agency.
Pinault’s Other Investments Through Artemis
Pinault is not only the CEO and President of Artemis. His family owns several vineyards, as well as a theater located in Paris and he owns a massive sports team too. Artemis currently owns Stade Rennais Football Club, a French Ligue 1 club.
In addition to this, he’s the founder of the Kering Foundation. The Kering Foundation was created to support women who are victims of violence.
What Else Does Pinault Invest In?
The Pinault family has invested in many different kinds of businesses and assets over the years. They also spend much of their wealth to help people. They are best known for their $100+ million donation for the rebuilding of the Notre Dame Cathedral following the devastating fire but have donated to many different charities.
In 2009, Salma Hayek and François Henri Pinault bought a Bel Air estate worth $13.6 million, spread across 8,000 square feet. At one point, the couple shared that they plan to demolish the property and build a 17,500-square-foot mansion. It’s unknown if this plan was approved or they are still waiting.
In 2020, the couple moved out of the estate, so they may be preparing for the demolition.
They also own homes in Los Angeles and London, as well as a ranch in Washington state that looks like a wildlife sanctuary, which Salma Hayek often posts about on social media.
the family currently lives in the 14-bedroom London property with a myriad of pets and animals with their daughter, Valentina.
“I have five horses, four alpacas, one cat, eight dogs, one hamster, five parrots, two fish, I’m sure I’m forgetting something!” – she said on the Ellen DeGeneres show.
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In addition to their home, Pinault owns vineyards including the Chateau Latour in Bordeaux and the Burgundy Monopole Clos de Tart.
Their most profitable vineyard, Chateau Latour, has recently joined forces with Maisons and Domaines Henriot via a merger deal in 2022.
Finally, the family owns the Pinault Collection, a massive collection of art and cultural artifacts that Pinault has built up over the years. You can see various pieces of the collection in partnered museums across Venice and Paris.
One of the museums is the Bourse de Commerce, open since 2021 after the family invested $121 million to convert the former Parisian building it is today.
Hayek and Pinault are owners of several luxury vehicles, too, including:
- Lexus NX F-Sport worth about $47,000
- Lexus RX worth about $53,000
- Chevrolet Suburban worth about $54,000
- Land Rover Range Rover Sport worth about $57,000
- BMW X5 worth about $62,900
- Audi A8L worth about $92,000
- 1968 Ford Mustang GT Convertible worth about $70,000
What Can We Learn From François Henri Pinault’s Success?
Henri Pinault’s journey to a net worth of approximately $40 billion, and his leadership at Kering contains a myriad of valuable business and life insights. First off, it’s the perfect example to show how important adaptability is, especially if you are managing a giant business like Artemis.
Secondly, he teaches us that not everything in life is success, but you need to take risks and keep trying. Pinault’s experience with Puma and Volcom didn’t go as planned, but it taught him what to focus on, and showed the world that embracing setbacks can actually lead to success. As soon as he knew it wasn’t the best direction for the business he moved decisively to fix his mistake and it has worked out incredibly well.
He’s also a very straightforward, brave person who, at many times, stood fierce in his goals and plans, such as in the example of buying Gucci in his ‘war’ with his rival Arnault. Finally, his commitment to good causes such as women’s rights, and philanthropic endeavors demonstrates the social responsibility in business.