France’s richest man commits $200 million to re-building Notre Dame
France’s richest man, billionaire Bernard Arnault, has committed $200 million to re-building the Norte Dame Cathedral.
France’s most iconic cathedral, the Notre Dame de Paris, was devastated by fire on Monday as more than 400 firefighters on worked to contain the blaze. However, it was mostly in vain, as the fire ripped through the building.
The nation has re-grouped to re-build the iconic cathedral, with the country’s richest resident, along with the company he controls, LVMH, committing the huge figure required to help repair the damage.
LVMH, which stands for Moët Hennessy Louis Vuitton, is one of France’s biggest companies. They stated on Twitter, “In the wake of this national tragedy, the Arnault family and the LVMH Group pledge their support for #NotreDame. They will donate a total of 200 million euros to the fund for reconstruction of this architectural work, which is an integral part of the history of France.”
LVMH is a French multinational luxury goods conglomerate headquartered in Paris. The company was formed in 1987 under the merger of fashion house Louis Vuitton with Moët Hennessy, a company formed after the 1971 merger between the champagne producer Moët & Chandon and Hennessy.
The oldest of the LVMH brands is wine producer Château d’Yquem, which dates its origins back to 1593.
The company launched an official statement, coommenting that, “The Arnault family and the LVMH Group, in solidarity with this national tragedy, are committed to assist with the reconstruction of this extraordinary cathedral, symbol of France, its heritage and its unity.
“They will donate a total sum of 200 million euros to the fund dedicated to the reconstruction of this architectural work, which is a core part of the French History.
“In the meantime, the LVMH Group puts at the disposal of the State and the relevant authorities all its teams – including creative, architectural and financial specialists – to help with the long work of reconstruction and fundraising, which is already in progress.
François-Henri Pinault, chairman and CEO of the international luxury group Kering, which includes Gucci and Saint Laurent, said Monday night that he and his family will donate 100 million euros to the cathedral’s reconstruction.
Apple is also said to be committed to funding the re-build.
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