Billionaire Bernard Arnault once drove a Peugeot 205 GTI worth around $12,000 to work and was refused entry into the building by a security guard.
Not every billionaire drives a supercar. Bernard Arnault, the chairman of LVMH and currently the fifth richest person in the world, once drove a Peugeot 205 GTI valued at around $12,000 to work. As a result, a security guard even refused him entry into the building, not believing that a wealthy individual would drive such a “cheap” car.
In the 1990s, as Arnault’s wealth grew, he opted for a modestly priced car for daily use. He purchased the Peugeot 205 GTI, a small car, in stark contrast to most billionaires who own flashy luxury cars or limousines. The luxury goods tycoon preferred practicality and safety over ostentation. According to Motorionline, Arnault had the car modified for security reasons. The compact vehicle was armored with B2-grade protection against small to medium caliber bullets, had bulletproof windows, and its weight increased significantly.
The only standout feature of this Peugeot was its luxurious leather interior, which served as the “expensive” touch. Despite its armor, the car retained a low profile, which was exactly what Arnault wanted to avoid attracting attention.
However, this strategy led to a surprising and humorous moment. When Arnault arrived at work, the security staff even asked him to leave, unaware of his identity and finding it hard to believe that someone so wealthy would drive a regular car.
Today, Arnault’s Peugeot 205 GTI has become a collector’s item. It was auctioned off in 2018 for about $40,000 and has since re-entered the market with a price tag nearing $66,000 – far exceeding expectations for a similar vehicle.
Meanwhile, the car’s former owner has become one of the five richest billionaires in the world due to the success of the LVMH empire, which owns prestigious brands such as Louis Vuitton, Tiffany, and Sephora.
In the first half of 2024, Bernard Arnault briefly surpassed Tesla CEO Elon Musk with a fortune exceeding $230 billion, making him the richest person in the world at that time. However, after various fluctuations in the luxury goods market, LVMH’s stock prices have been affected, leading to a continuous decline in Arnault’s wealth. He is currently ranked fifth on Forbes’ real-time billionaire list with $170 billion.
Arnault now runs the LVMH luxury goods empire, which includes 75 high-end brands like Louis Vuitton, Tiffany & Co., and Sephora. Despite fluctuations in his net worth—most recently losing $54 billion due to falling LVMH stock prices—his story of driving a mid-range car illustrates that not every billionaire flaunts a lavish lifestyle.
