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France's superrich join together to pledge over $675 million to help rebuild Notre-Dame, as donations flood in to save the devastated cathedral

Notre Dame Cathedral
Firefighters dousing flames from the burning Notre-Dame Cathedral in Paris on Monday. REUTERS/Benoit Tessier
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France's superrich have joined together and pledged about 600 million euros, or $677 million, to help rebuild Paris' Notre-Dame Cathedral after it was ravaged by a fire.

The cathedral went up in flames Monday evening, and its iconic spire collapsed. Its twin towers are safe, however, and several statues were removed from the top of the building last week, putting them out of harm's way.

The fire was fully extinguished by 10 a.m. local time on Tuesday, but the extent of the damage to the more than 850-year-old building and what it might cost to restore it are unclear. The cause of the fire is also unknown.

By Tuesday afternoon, four separate donations of at least 100 million euros ($113 million) had been pledged to fund the rebuilding efforts.

The world's third-richest man, Bernard Arnault, pledged to donate 200 million euros ($226 million) to help rebuild the cathedral just hours after another billionaire, François-Henri Pinault, said he would give 100 million euros.

Soon after Arnault's pledge, the French oil giant Total pledged 100 million euros and the Bettencourt Meyers family pledged 200 million euros to the cause.

Read more: Heartbreaking photos show the 800-year-old Notre-Dame Cathedral in Paris burning

Notre Dame
A firefighter at Notre-Dame on Monday night. The fire was fully extinguished on Tuesday morning.  AP Photo/Francois Mori

Arnault, who is the head of the family behind the French luxury conglomerate LVMH, has a net worth of about $90 billion — making him France's richest person and the third-richest person in the world behind Amazon CEO Jeff Bezos and former Microsoft CEO Bill Gates.

"In the wake of this national tragedy, the Arnault family and the LVMH Group pledge their support for Notre-Dame," LVMH said Tuesday morning in a statement. "They will donate a total of 200 million euros to the fund for reconstruction of this architectural work, which is an integral part of the history of France."

The Bettencourt Meyers family, which owns the cosmetics company L'Oréal, is the second-richest family in France behind Arnault. The family will make their 200 million euro donation alongside L'Oréal and the Bettencourt Schueller foundation, according to Reuters.

Bernard Arnault
The French billionaire Bernard Arnault and his wife, Hélène Mercier, at the Élysée Palace in June 2014. His family and their conglomerate, LVMH, have pledged 200 million euros to help the Notre-Dame reconstruction.  Phillippe Wojazer/Reuters

François-Henri Pinault is the CEO and chairman of the luxury group Kering — which owns luxury brands including Gucci and Alexander McQueen — and chairman of the holding company Groupe Artemis.

Pinault's son, William, said in a statement on Twitter: "My father (François Pinault) and I have decided to release from Artemis funds a sum of 100 million euros to participate in the effort that will be necessary for the complete reconstruction of Notre-Dame."

 

 

Total CEO Patrick Pouyanné announced his firm's contribution on Tuesday.

Total "has made a special donation of 100 million euros for the reconstruction of the Notre-Dame of Paris," he tweeted. "Fluctuat nec mergitur," he added — a Latin motto that roughly translates to "rocked by the waves, but does not sink."

Crédit Agricole, one of France's biggest banks, also pledged in a Tuesday statement to donate 5 million euros ($5.6 million).

Notre Dame Cathedral caught fire in Paris, France on April 15, 2019. 04 15T181602Z_977244399_RC19CF540000_RTRMADP_3_FRANCE NOTREDAME
Notre-Dame Cathedral on Monday night.  REUTERS

Many other donors outside France have pledged money to rebuild Notre-Dame.

The New York-based French Heritage Society on Monday launched a restoration fund for Notre-Dame, Reuters reported on Monday.

"I fight back tears as I write this," Elizabeth Stribling, the chair of the French Heritage Society, said in a press release. "Notre-Dame is more than a religious symbol, it speaks of human achievements and great art."

"Although it's located in France, it is part of great world art that informs our culture and heritage. We must all spring to action," she said.

Read more: Why Notre-Dame Cathedral, a medieval stone church, burned so quickly

notre dame
Notre-Dame before Monday's fire.  Maziarz/ Shutterstock

There were more than 100 campaigns to raise funds for Notre-Dame on GoFundMe as of Tuesday morning.

A spokesman for the crowdsourcing platform told Reuters that it would be "working with the authorities to find the best way of making sure funds get to the place where they will do the most good."

The French government will also launch a global campaign to gather donations for the reconstruction, President Emmanuel Macron said. "We will rebuild it. All together," he said on Monday.

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Will Martin
Will Martin
Will Martin is a senior business editor with 10 years of experience in various roles at Business Insider. He works with a team of reporters and editors to cover everything business, with a special focus on consulting, financial markets, and the aviation industry.Prior to working on the business news team, Will led Insider's sports coverage in the company's London bureau, publishing award-nominated work on alleged gang involvement in elite boxing, deeply-reported features on a civil war in Olympic sport modern pentathlon, and profiles of some of the biggest rising-stars in soccer.Before joining the sports team, Will spent a year as an associate editor on Insider's global news team. Before that, Will worked as a markets and economics reporter for Business Insider for more than three years.During his time with the news team, Will assigned and edited reporting and features on everything from the Boeing 737 Max crisis, to the persecution of Uyghur Muslims in China, to global geopolitics, and even a Barack Obama-themed service station in Ireland.He also personally reported on allegations of illegal mass human organ harvesting in China.Prior to working for Insider, Will earned a BA in International Relations from the University of Exeter and an MA in Financial Journalism from City, University of London.
Alex was a senior news editor at Insider's London bureau. She was previously a news reporter. She mainly covered breaking news, US and international politics, and foreign policy, and has appeared on TV, radio, and panel events to discuss her work.
Sarah Gray
Sarah Gray
Sarah Gray is deputy editor of the West Coast news team leading a team of journalists in California and collaborating with reporters in Singapore and New York.Her work has previously appeared in Fortune, TIME, Salon, Bustle, Variety, The Hollywood Reporter, and more.Send tips to sgray@jkmperu.com.