French luxury tycoon Bernard Arnault, the richest man outside America, is buying one of Paris' most iconic restaurants
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- LVMH has bought a majority stake in the tiny 100-year-old Paris bistro Chez L'Ami Louis.
- LVMH is owned by Bernard Arnault, who regularly jostles with Jeff Bezos and Elon Musk for the title of world's richest person.
- Chez L'Ami Louis is famed for its roast chicken, finely-cut fries, and celebrity patrons.
LVMH boss Bernard Arnault has bought one of Paris's most iconic restaurants.
LVMH, the French luxury-goods conglomerate that owns Louis Vuitton, Christian Dior, and Tag Heuer, has acquired a majority stake in the tiny 100-year-old bistro Chez L'Ami Louis, renowned for its high prices, Bloomberg reported.
The conglomerate didn't close the financial terms of the detail, per the report.
"Chez L'Ami Louis has acquired an unprecedented atmosphere and popularity among Parisians, becoming a go-to destination for those seeking an authentic culinary experience in the capital," LVMH said in a statement.
Arnault — the world's third-richest person whose wealth Bloomberg puts at $200 billion — has been building up LVMH's portfolio of luxury hospitality companies. This includes the Cheval Blanc and Belmond hotel chains, as well as travel retailer DFS and yacht builder Royal Van Lent.
Chez L'Ami Louis is famed for its roast chicken, snails, and finely cut fries, and is said to have welcomed diners including Bill Clinton, Francis Ford Coppola, Keanu Reeves, and Marlene Dietrich. Arnault has also eaten at the restaurant, CNN reported.
But reviews are mixed. While some guests love the restaurant, others have left scathing feedback, leading to an overall 3.5-star rating on Tripadvisor.
"It's undeniable that L'Ami Louis really is special and apart," Scottish critic AA Mill wrote in a 2011 review of the restaurant for Vanity Fair. "It has earned an epic accolade. It is, all things considered, entre nous, the worst restaurant in the world."
Arnault regularly jostles with tech titans Jeff Bezos and Elon Musk for the title of world's wealthiest person: Bezos currently tops the list with an estimated fortune of $211 billion, per Bloomberg. Arnault's estimated wealth is more than double that of Europe's second-richest person, Inditex founder Amancio Ortega, from Spain.