• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs

2

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

3

Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii

1

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs

2

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

3

Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii
Notre Dame

Rival French Billionaires Pledge Over $600 Million to Rebuild Notre Dame Cathedral

By
Phil Serafino
Phil Serafino
and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Phil Serafino
Phil Serafino
and
Bloomberg
Bloomberg
Down Arrow Button Icon
April 16, 2019, 5:37 AM ET
Add Fortune on Google for similar content.

France’s luxury-goods tycoons are among the country’s wealthiest individuals and companies to pledge at least 600 million euros ($678 million) to help in the reconstruction of Notre-Dame cathedral a day after the Paris landmark was ravaged by fire.

Kicking off a wave of donations in response to a call from President Emmanuel Macron for a fund-raising campaign, Francois-Henri Pinault, the chairman and chief executive officer of Gucci owner Kering SA, and his father, Francois Pinault, said Tuesday they would donate 100 million euros from their Artemis investment company.

Their archrival, the Arnault family, responded minutes later with a pledge of 200 million euros and the architectural and design resources of their LVMH fashion conglomerate. Cosmetics company L’Oreal SA and its principal shareholder, the Bettencourt Meyers family, will give 100 million euros, while the family’s charitable foundation will chip in another 100 million euros, the company said.

“This tragedy is striking all the French people, and beyond that, all those attached to spiritual values,” Francois-Henri Pinault, 56, said in a statement. “Faced with this tragedy, everyone wishes to give life back to this jewel of our heritage as soon as possible.”

Corporate and individual gifts poured in, along with offers of technical assistance, from France and abroad. Macron, who vowed to rebuild the 850-year-old Gothic monument, called for contributions and said he would draw on the world’s best talents for the task.

It’s unclear how much it will cost to repair the cathedral. Windsor Castle in England was hit by a fire in 1992, and restoration work cost 37 million pounds ($48 million) by the time it was completed five years later, according to the Royal Collection Trust.

Restoration of Notre Dame was already under way before the fire, with a budget of about 150 million euros, Michel Picaud, of the fund-raising group the Friends of Notre-Dame de Paris, said in an interview on BFM TV. That may need to be tripled after the fire, he said.

Luxury fortunes dominate the upper reaches of France’s wealth landscape and are already behind some restoration projects in the city. The elder Pinault, 82, is the world’s 23rd richest person, with a fortune estimated at $37.3 billion, according to the Bloomberg Billionaires Index.

Read more: Paris Is Becoming One Big Monument to Owners of LVMH and Kering

Bernard Arnault, 70, is the main shareholder of LVMH Moet Hennessy Louis Vuitton SE and ranks third globally and first in France with a $90.4 billion fortune. L’Oreal heiress Francoise Bettencourt Meyers is the country’s second-wealthiest and the world’s richest woman with a $53.5 billion fortune.

Paris Mayor Anne Hidalgo is considering convening in the coming weeks a conference of international donors to raise the money needed for the restoration, she said Tuesday on Twitter. Germany stands ready to help “in the closest friendship,” Foreign Minister Heiko Maas said on Twitter. “We are united in mourning,” he added.

Oil producer Total SA, France’s biggest company by sales, will contribute 100 million euros to the private non-profit Fondation du Patrimoine for the project, CEO Patrick Pouyanne said. Martin Bouygues and Olivier Bouygues, the brothers who run construction and telecom company Bouygues SA, committed 10 million euros in personal funds and the company said it also would donate. Technology consulting firm Capgemini SE pledged 1 million euros. In the U.S., private-equity titan Henry Kravis and his wife, Marie-Josee Kravis, will give $10 million, they said.

Construction company Vinci SA, the Duval family that owns property developer Groupe Duval, and banks BNP Paribas SA, Societe Generale SA and Credit Agricole SA also said they would give.

“Vinci suggests all building companies in France should join forces to rebuild Notre Dame in an industry-wide skills sponsorship drive,” the company said in a statement, noting that the 13th-century wooden beams holding up the roof can never be replaced, while the remaining structure “must be safeguarded.”

Authorities on Tuesday were still assessing the damage from the fire and weren’t saying how much it would cost to restore the cathedral, which lost large swaths of its roof.

“Today we must look at the extent of the damage,” Culture Minister Franck Riester said on LCI television, adding that only then can the cost of restoration be determined.

“Clearly money is important, but there will be many donations and money won’t be the thing that’s missing,’’ Antoine Arnault, Bernard Arnault’s son, said in an interview on BFM TV. “What will be needed is something more intangible — extremely competent people with good ideas.’’

LVMH has “architectural and artistic savoir faire,” as well as expertise in art preservation because of its Louis Vuitton foundation, he said.

About the Authors
By Phil Serafino
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in International

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Most Popular

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs
Law
Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs
By Wyatte Grantham-Philips and The Associated PressJuly 2, 2026
18 hours ago
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
2 days ago
Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii
Success
Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii
By Sasha RogelbergJuly 2, 2026
20 hours ago
Current price of oil as of July 2, 2026
Personal Finance
Current price of oil as of July 2, 2026
By Joseph HostetlerJuly 2, 2026
23 hours ago
Americans are escaping the U.S. for New Zealand where house prices have hit a new low—but only wealthy Americans with $3 million spare can invest
Success
Americans are escaping the U.S. for New Zealand where house prices have hit a new low—but only wealthy Americans with $3 million spare can invest
By Emma BurleighJuly 2, 2026
22 hours ago
Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds
Economy
Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds
By Sasha RogelbergJuly 2, 2026
21 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.