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France’s Wealthiest Show Massive Support for the Notre dame cathedral

Answering a fundraising call by President Emmanuel Macron, two of France’s luxury goods tycoons have pledged to donate 300 million Euros to help rebuild the Notre-Dame Cathedral, after the popular French landmark was devastated by a fire on April 15.

Francois-Henri Pinault, the Chief Executive Officer and Chairman of Kering SA (the parent company of Yves Saint Laurent and Gucci) and his father, Francois Pinault, have pledged 100 million Euros, which will be released from Groupe Artémis, their investment company.

Their primary rivals, the Arnault family, issued a pledge just minutes later, promising 200 million Euros, as well as architectural resources from the LVMH fashion house.

After the 850-year old Notre Dame Cathedral was hit by a fire earlier this week, French President Emmanuel Macron promised to begin efforts to build the structure. He called for donations to help in his efforts, and promised to recruit some of the best architectural minds to get on the project.

Francois Pinault is the 23rd richest person in the world, with a personal fortune of $37.3 billion, according to the Bloomberg Billionaires Index.

Bernard Arnault is the main shareholder in global conglomerate LVMH Moët Hennessy Louis Vuitton SE. He’s the world’s 3rd richest man, with a net worth of $90.4 billion.

Both men are joining a long list of notable individuals who have pledged support to help rebuild the famous French landmark.

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