François Pinault , born the August 21st 1936 with Fields-Géraux in the Coast-with Armor, is a Business man French, former president of the group Pinault-Spring-Redoute (PR) and owner of the Stade of Rennes Football Club. The third French fortune in 2007, it is also large impassioned and Collection nor of Modern art and contemporary.
Origins
Born from a commercial father from Country wood and , it leaves the school at 16 years with a durable contempt for the diplomas and the Establishment . After having carried out its Military service in Algeria in 1962, it meets Louise Gautier, the girl of the wood supplier merchant of the sawmill of his father and is made engage by this one. After its marriage in 1960 (which will last 5 years), it takes again the company and re-elects it Établissements Pinault, with the support of his/her father-in-law and the assistance of the Crédit Lyonnais (famous LCL since). It quickly develops its activity and in 1970, it repurchases tens of companies of the sector.
Financier and business man
It becomes little by little Financier and made fortune thanks to the speculation on the market of the Sucre in 1974. According to Gay Pierre-Angel and Caroline Monnot, it is its first large blow. He plays on a “pipe” which Roland Gadala provides him, administrator of Peugeot and Saint-Gobain. This last will then present it to Jean Garnier, which, in its turn, will speculate in the Sucre, but with less success, it seems, which François Pinault. In 1973, it sells Pinault Distribution for 80 franc million with the British group Venesta. The policy interests it. It then chooses to approach the independent young people Républicains, whose owner with Rennes, is Jean-Marie Le Chevallier, future mayor of the National front to Toulon. It engages in favor of the election of Valery Giscard d'Estaing.
It continues its acquisitions, primarily companies close to the Voluntary liquidation while profiting from an advantageous law which enables him to release quickly the most been worth from.
It meets Jacques Chirac in November 1981, via Michel Giraud, president of the District council of Ile-de-France, of which it will become one of the friends closest by helping it by repurchases to companies in Corrèze. In 1983, Ambroise Roux, former owner of the general Company of electricity (today Alcatel), sponsors it to enter to the French Association of the private companies (AFEP). It buys, in 1987, 75% of the capital of the Chapelle Darblay, number one French of the Newspaper. It resells in 1990 and empoche with the passage an appreciation of 525 franc million.
It also crosses on its way Bernard Arnault, another large financier, and Conforama repurchases to him. At the end of the Years 1980, it makes enter Pinault SA on the stockmarket thanks to a group of institutional investors (AGF, Barclays and LCL).
These stockmarket transactions enable him to repurchase large the Magasins of Spring in 1991 and the salesman by correspondence Redoute. In 1992, it creates Artémis, the patrimonial Holding intended to accommodate certain participations.
In 1994, it is the fusion of Redoute with Pinault-Spring. The new group takes the name of PR. He becomes owner of the Fnac in 1994, of the Magazine the Point in 1997, of 16% of Bouygues, the house of auctions Christie' S in 1998. He benefits from the purchase of the Point not to pay the Solidarity tax on fortune thanks to a countable artifice. He also used Company-screens located in a Tax shelter of the Dutch West Indies to hide a quarter of his fortune during a score of years, thus avoiding being subjugated with the income tax until 1997.
In 1995, it supports near Jacques Chirac the choice of the Breton Loïk Le Floch-Prigent for the presidency of the SNCF. It is at this time that it launches out in the Luxe to try to compete with its adversary Bernard Arnault by repurchasing 60% of the house of luxury Gucci. In 2007, his/her son with the head of the group PR launches a tender offer on Puma (a German group had by the Herz family) for approximately 5 billion euros, in order to center it on the fashion accessible to all.
He is also owner of the Stade of Rennes Football Club, club of professional Football of Rennes evolving/moving in Ligue 1.
The PR market cap, which it controls to a total value of 43% via the holding Artémis, is of 17 billion Euro S on April 8th, 2007. In 2006, it thus has the 75e world fortune and the 25e European fortune (except Russia) with a personal fortune estimated at 10,4 billion euros (14 billion dollars US).
Political relations
So some said it nearer to Jacques Chirac and of Dominique de Villepin, maintaining even some friendships with the PS, others affirmed that he had pled the cause of Nicolas Sarkozy near the former president after the engagement of Sarkozy near Edouard Balladur for the presidential of 1995.
Art
Since 2001, it gradually transmits the reins of its empire to his/her son François-Henri Pinault (born on May 28th, 1962 and graduate of HEC Paris in 1985), to devote itself fully to its passion, the Contemporary art.François Pinault takes taste with the modern art and contemporary at the end of the years 1980, without being informed the least formation or on the subject at the beginning. He will constitute in the years 1990 the most important private collection of contemporary art in France, and one of very first in the world. In 1998, it carries out a major acquisition with the repurchase of the British house of auctions Christie' S, which installs it like one of the world main actors of the market of Article the emulation/competition with Bernard Arnault, the owner of LVMH, probably takes part in the extent of acquisitions which it carries out near the large artists and contemporary plastics technicians.
In 2005, it buys the Palazzo Grassi, ex-property of the family Agnelli then of FIAT, located at Venice on the edges of the Grand Channel, and opens there with the public its first exposure of Contemporary art. It decides in May 2006 to present part of its personal collection, after having given up in 2004 a construction project, having launched in 1999, of a museum on the island Seguin with Boulogne-Billancourt because of “too long administrative times” to its taste. In May 2007, it obtains after a strong fight against the institution Guggenheim, an agreement in principle for the purchase and work of the Douane of Venice, which will become an extension of its collections presented to Palazzo Grassi. The architect Tadao Ando should carry out the architectural project, and Jean-Jacques Aillagon to organize the whole of the muséal project on Venice.
Distinction
In April 2007, it is promoted commander of the Légion of honor. He was elected Breton of the year 2006 by Armor Magazine .
Private life
He is married and has four children, of which François-Henri Pinault which takes again the reins of the group created by his/her father.
Source
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