Antoine Bernheim

"Antoine Bernheim only believes in the truth of action and the present moment. Everything else is mere speculation."

"He defines himself initially as: "I am first and foremost the man, the scarcely visible link, who unites and underpins the efforts of the Lazard houses. I believe that for some, Lazard-Paris is Jean Guyot; for others, Antoine Bernheim or Bruno Roger. That Lazard-New York is Félix Rohatyn or Zarb. That Lazard-London is, depending on who you ask, John Nott or Wemer Wylie... But in fact, it is true that through them, it is still me; in other words, the house is always "ours", and its story continues...""

"Here are two entrepreneurs who are also heirs; who have tremendously developed what they inherited, even though Férinel's real estate was in much better condition than Bolloré's papers; who each identified a sleeping beauty (Dior, within the Boussac empire, for Arnault, and Rivaud bank for Bolloré); who followed the advice of the same godfather in the Parisian establishment-Antoine Bernheim-to finance their rise to power; who ensured the construction of their empire through a very unusual blend of entrepreneurial aggression and ability to leverage new financial market instruments; who experienced both failures and windfalls (Gucci for Arnault and Bouygues for Bolloré); who moved into the new century without forgetting how to wield hostility (Hermès and Havas learned this to their detriment); who practiced financial engineering with incredible dexterity-Arnault increased his share of LVMH's capital from 38% to 46% in one day, crushing the Christian Dior holding, while Bolloré reached 27% in Vivendi, thanks in large part to the billions inherited from the opportune merger of the communication group with Havas; and who, finally, share the same dynastic ambition, a fierce determination to firmly establish this resolutely familial choice over time. In fact, it is the defense of family capitalism that is the cause of their joint presence in Lagardère's capital, and the potential source of a collision..."

"the sole results of the Bolloré SME, even when restored, did not allow for the 250 million francs check demanded by Suez for Scac to be signed. The banker Antoine Bernheim, Vincent's true godfather in the Parisian establishment, was therefore going to work on both convincing the seller and providing sources of financing: by inventing the 'Breton pulleys' system, a cascade of holdings that allowed for the housing of funds from partners willing to remain minority shareholders; and by nurturing the IPO of Bolloré Technologies as early as 1985.""

"It's Antoine Bernheim, a legendary figure in Lazard Bank, with his unwavering three-piece suit even in the heatwave, and mentor to Vincent Bolloré in his early years, who inoculated the green-white-red virus into the entrepreneur. And by the way, the first dose was served on a silver platter by the Italians themselves: "I know a very intelligent boy, I am a friend of the family, and he needs help," Bernheim confided to the Agnelli, the owners of Fiat, for whom he was, at Lazard, the gateway to France."

"Just a few months later, unexpectedly: Vivendi refuses to honor the contract. The late Antoine Bernheim would probably have said, "the bride had the pox"... The very courteous Arnaud de Puyfontaine, CEO of Vivendi, may have expressed it a little less cavalierly (" We thought we were buying a Ferrari, and we end up with a Fiat Punto"), but the statement sent chills down the spines in Milan. And yet, it wasn't far from the truth: Mediaset Premium, supposedly losing 70 million in 2015, suddenly found itself on a trajectory of 200 million negative result each year. Almost as much as Canal in France! A nightmare that Vivendi did not want to replicate. Faced with this turnaround, the Italians sue for breach of contract, seeking 570 million euros in damages, then even 3 billion... Bolloré obviously retaliates, and in November, Vivendi declares itself "freed from its willingness to prioritize an amicable solution." It's war. And Bolloré is going to use its classic arsenal: the attack on the capital."

"The funds for the capital increase still need to be found. On one side, Alain Clarou, on the other, Antoine Bernheim, take up their pilgrim's staff. Arnault had assured Bernheim that he could put 90 million on the table, but he actually only has 40 million, from the sale of Férinel's construction activities. Crédit Lyonnais, in which Michel Lefebvre has kept excellent contacts, is ready to advance 50 million. In any case, 90 million is by far insufficient. Lazard Bank will fully engage to bring together a solid consortium."

"If he is suspicious and perfectly organized, Bernard Arnault is also quick. Faced with the Dalton brothers, he decides to play Lucky Luke, the cowboy who shoots faster than his shadow. He will buy the shares held by the Willot brothers. He doesn't have the necessary money? He asks Antoine Bernheim for help, but he backs out: he did not get the approval of Michel David-Weill to commit further. He himself is not very enthusiastic: why spend so much money to recover these useless shares? They are only of interest to Bernard Arnault, in a heritage context. Regardless of Lazard's reluctance! Arnault will turn to Crédit Lyonnais, always ready for adventure."

"To anyone who will listen, Antoine Bernheim always diligently extols the merits of Bernard Arnault, but he cannot hide his bitterness. Since Arnault reached the heights of success and since Bernheim himself was semi-retired due to the clan struggles that tear Lazard apart, Arnault no longer asks him for advice or even gives him a friendly nod. Although he is the vice-president of LVMH, he no longer participates in the gala dinners organized by Arnault. He is no longer invited to Saint-Tropez in the summer. "Gratitude is a disease of dogs that is not transmissible to humans," the old lion sometimes tells his interlocutors, adding: "The only way to maintain good relations with Bernard Arnault is to stay away. You should not be indebted to him.""

"Antoine Bernheim, still a board member and vice president of LVMH. To the former managing partner of Lazard who provided him with the financial means for his ambitions, built his credibility in the business microcosm and in the political world, and helped him throughout his rise, he devotes only a few lines. However, the dedication of the book he sends to him is full of praise: on the entire front page, he writes that without him, he would be nothing and that his gratitude is total. Bernheim will thank him, adding, however, that he would have preferred to read this piece of glory in the body of the book rather than in the dedication1919..."

"Both, in their different capacities, were familiar with the Boussac Saint Frères case that Pierre Godé had already indicated to him as a possible target. François de Combret did not hesitate to encourage Bernard Arnault to approach Antoine Bernheim in Paris, who had in his drawers, among others, this business acquisition file to study. Politically, a new more liberal government had just been appointed. Investment banks have many business acquisition files rich in opportunities for those who know how to seize them."

"Michel Lefebvre, CEO of Ferinel, also emphasizes the need for progress in marketing and commercial policy, practices he has successfully implemented to ensure Ferinel's success in the leisure real estate sector. The listeners listen with curiosity to this young 35-year-old Polytechnician, who has just cut his teeth in the United States, full of vigor and fire, and who does not resemble the archetypal establishment bosses. The financial scope of Ferinel is indeed less significant than that of its competitors, but thanks to the sponsorship of Dreyfus Bank and Lazard Bank, Bernard Arnault, advised by Antoine Bernheim, is able to raise a round table of 400 million francs, with Ferinel's participation being only 100 million."

"He has retained the tone of his young man's voice. Who suggested that dissatisfaction is the essence of talent? He remembers Thomas Mann making his hero Gustav Aschenbach say this in Death in Venice."

"Until his removal from the executive presidency of insurer Generali in April 2010, he held a record of longevity at the head of one of Europe's most prosperous financial groups, founded in Trieste in 1831 and which counted writer Franz Kafka among its fleeting employees. An inveterate bridge player, the man is as complex as his career is atypical."

"The greatest players come to Biarritz. They usually gather at the Hotel du Palais, the former princely residence overlooking the Atlantic."

"At 27, Antoine Bernheim is hired by Pierre Wertheimer, Coco Chanel's partner and founder of the luxury group, to reorganize the Bourjois house in Paris. "A friend of my parents, by the way. . . " The future star of Lazard bank will spend four years working for Chanel's boss, Pierre Wertheimer."

""Money is not my primary interest. It rather serves as an instrument of power."

"When businessman François Pinault bought Palazzo Grassi in 2005, he approached Antoine Bernheim to ask him to intercede with Cardinal Angelo Scola, patriarch of Venice, because he had set his sights on the tip of the Customs House. Two years after taking over the Grassi Palace from the Agnelli family, the Breton industrialist obtained this legendary place in Venice, also coveted by the Guggenheim Foundation."

""For Antoine Bernheim, there is no doubt that if Pope Pius XII – whose beatification was attempted by Benedict XVI at the end of 2009 along with that of John Paul II – had given instructions to help people, there would have been far fewer victims. 'The Catholic Church could have saved many more lives than it did."

"Vincent Redier,"

"Once he had crossed the border, Simon Fuks himself was detained with his wife in the refugee camp of Cropettes. The influence of the 'Red Dean' Antoine Bernheim is even more reserved on his own wartime experience. 'The period was very difficult."

"Antoine Bernheim's admiration for the Italians who did everything to rescue French Jews from their oppressors dates back to this time. This personal memory will influence his view of the transalpine relationship for a long time. Although he doesn't always understand Italian business culture, Antoine Bernheim feels that he owes a debt to Italy."

"To achieve this, he benefited from the support of Antoine Bernheim, the all-powerful managing partner of Lazard Bank, during the period from 1967-2005, who carefully watched over his steps as he had done before with Bernard Arnault, Vincent Bolloré, and François Pinault."

"One can well imagine their first conversation on the phone, one morning in early May: “Would you be interested in a stake in LVMH, Henry Racamier must have said, somewhat condescendingly.” “It would be a great honor, Bernard Arnault certainly replied in the tone of the greatest deference.” When the young boss of Dior hangs up, his smile is carnivorous. "I won," he probably thinks, before inviting his top executives to lunch. Bernard Arnault does not warn Antoine Bernheim. It is still premature. Lazard is already engaged with Chevalier. So he turns to Crédit Lyonnais for the occasion. A first meeting is scheduled with Henry Racamier's banker at the Dior headquarters."

"What are these external pieces of information that prompted the attorney general to change his mind? It is difficult to know the source of the instructions and their motivation. What influences were at play? Did Arnault's entourage take advantage of its introductions to the Prime Minister, Michel Rocard, and his chief of staff, Jean-Paul Huchon? It is likely. Did Antoine Bernheim use his connections at the Elysée Palace? It was rumored at the time that Jacques Attali, François Mitterrand's adviser, could join Lazard. A third hypothesis is also plausible: the position of the public prosecutor may be due to the rivalry between the Chancellery and the COB. In any case, from that day on, the public prosecutor will often speak in favor of Arnault's theses."

"Who suggested that dissatisfaction is the essence of talent? He remembers that Thomas Mann has his hero Gustav Aschenbach say it in Death in Venice."

""One must remain silent about the powerful: there is almost always flattery in speaking well of them; there is danger in speaking ill of them while they are alive, and cowardice when they are dead." La Bruyère"

"In 1927, he successfully orchestrated the rescue of Citroën."

"In the 1960s, he participated in the creation of the famous "collateral structures" that allowed Lazard to expand by taking control of the holding company Rue Impériale de Lyon, Immobilière Marseillaise, Sovac of which the bank only had 5%, or the investment holding company Gaz et Eaux, still chaired today by Michel David-Weill."

""We have been calling him 'The Godfather' for years, Tonio the godfather," jokes his cousin Bertrand Zivy, who was raised with him in his childhood."

"Two years after taking over the Grassi Palace from the Agnelli family, the Breton industrialist will obtain this mythical place in Venice, also coveted by the Guggenheim Foundation. "A haunted place. A carousel of ghosts," describes Bernard-Henri Lévy, who considers the industrialist from Côtes-d'Armor as his second father. "François Pinault, during the opening two years ago of the Palazzo Grassi, displayed his own skull radiographed by Piotr Uklanski. Here, at the Customs of the Sea, he shows the ghosts that made a storm there. The Carpaccio of the Ten Thousand Crucifixions on Mount Ararat, resurrected by the Chapman brothers in their evocation of Auschwitz and Nazism.""

"An inveterate bridge player, the man is as complex as his unusual journey."

"For several years now, Antoine Bernheim has chosen to indulge in his favorite sport: speaking openly what others barely dare to think silently. The concept of innermost thoughts only adds more spice to it.""

""They all live off the success achieved by their grandfather. Well, all... In fact, there are two categories of capitalists: those who started from nothing and those who grew their inheritance," summarizes Antoine Bernheim."

"There is a storm brewing in the financial markets. These are the first signs of the great recession that will shake the global capitalism. "This financial crisis was created from scratch by young, incompetent and greedy bankers. I knew that at the slightest recession, borrowers would no longer be able to repay the banks. I started to worry when banks were financing investment funds with leverage, without applying any ratio, lending ten, twenty, fifty times the amount of borrowers' equity," Antoine Bernheim predicted. "These private equity funds have sometimes played a useful role, as the companies they bought were able to be turned around and sold for a profit. But when this wasn't the case, the only way to make the investments profitable was to destroy the companies and sell off the assets as much as possible. That's why I think these funds were more destructive elements of financial stability," says the veteran investment banker."

""He has a specialty that I love: his 'mega-analyses of global geo-political and economic issues.' He speaks with that grumpy look we know so well. He gradually unveils a prospective, analytical vision, piece by piece. He has both analytical and synthetic thinking. And he doesn't beat around the bush.""

""gratitude is a disease of dogs not transmissible to humans""

"Like André Meyer, Antoine Bernheim has a particular predilection for insurance: "the only profession that guarantees property and people during their lifetime and even after their death"."

"Faced with the rise of Nazism, he left France in 1939 and became one of the main architects of Lazard's expansion in the United States after being appointed to lead the bank's American operations in 1944."

""The art of Michel David-Weill was to keep Felix Rohatyn and Antoine Bernheim, who were the engines behind the firm, while restraining them from taking over his office,""

"At Lazard, he created Sovac (Society for the Sale of Credit Automobiles), a financing company specialized in consumer car loans, thus making Lazard Frères a significant force in consumer credit."

""In addition, banks irresponsibly lent money in the United States to borrowers who clearly did not have the means to repay, charging exorbitant interest rates. And without taking into account the value of the collateral, which was generally lower than the loan amount." "When they realized that they were starting to have bad business, they securitized these loans and transferred the risks to the market. I have always believed that transferring risk is not a healthy operation. Creating a market for risk transfers, it was certain that it would end badly...""

"At the age of 27, Antoine Bernheim is hired by Pierre Wertheimer, Coco Chanel's partner and founder of the luxury group, to reorganize the Bourjois house in Paris. "A friend of my parents, by the way...""

""With Antoine, his opinions can change very quickly. He is passionate and highly sentimental. He is very generous with his affection, but he also needs a lot of affection. He has contributed to investing our profits in companies: Rue Impériale, La France, l'Immobilière Marseillaise... which has proven to be wise.""

"Upon his arrival, he organizes the takeover of Rue Impériale de Lyon and l'Immobilière Marseillaise, two companies with significant real estate portfolios in the city centers of Lyon and Marseille, which will allow Lazard to have a solid heritage."

"In the future, there will be fewer and fewer comparable individuals capable of inventing capitalists, Breton pulleys, cascades of holdings... "His system will disappear with him. There will be no new Bernheim," predicts Alain Minc."

"His relationship with money? "He's not money-driven. He has no idea how to spend," says Anne-Marie de Chalembert. "But he often says, 'Don't forget that money represents power and respect...' He is much more interested in influence than money. What he wants is to play a role, and not a secondary one...""

""In addition, it is an extraordinary information accelerator. You have such a concentration of high-ranking officials! If you want to take advantage of it to test an idea, now is the time or never," says a follower of the Siècle."

"His particular talent in business? "He has a sense of opportunities, good timing, he knows how to act at the right moment, without a trace of hesitation. During the AGF battle, for example. He is extremely quick in his reactions. And he trusts his instincts.""

"Morfontaine-le club of the Century-le Travellers are the high places of mondain Bernheim. Anne-Marie de Chalembert has her theory on this thirst for rituals."

"Antoine Bernheim shakes his head with a gloomy expression. He hardly appreciated that two of his candidates, young John Philip Elkann, heir to the Agnelli family, and Franco-Polish financier Romain Zaleski, were rejected from the board of directors of the Lion of Trieste, the third largest European insurance company founded in 1831. Two of his dearest relationships, on which he relied heavily to alleviate the boredom of long-winded advice. Because Antoine Bernheim, son of Léonce Bernheim and Renée-Marcelle Schwob d'Héricourt, detests two things: monotony and mediocrity."

"As proof: during the presentation of his Grand Cross insignia of the Legion of Honor in front of the Crème de la Crème of the CAC 40, did Nicolas Sarkozy not say to him, "If I am here today, it is thanks to you"? For years, did Antoine Bernheim not repeat to him, "You were born to do politics; you are the best and you will be president"?"

"1-The New Observer of June 24, 1999, "Fric-frac at Lazard", by Olivier Toscer. 2-The Last Tycoons: The Secret History of Lazard Frères & Co, by William D. Cohan, Doubleday, 2007. 3-Financial Times of September 18, 2010. 4-The Jews, the World and Money, by Jacques Attali, LGF, Paris, 2003. 5-Sociology of Money, by Damien de Blic and Jeanne Lazarus, cited in. 6-Interview with the author. 7-Vincent Bolloré, angel or demon?, by Nicolas Cori and Muriel Gremillet, Hugo Doc Editions, January 2008. 8-Interview with the author. 9-The Birth of Bridge, Origins of the Game and Evolution of the Rules, 1850-1933, by Jean-Louis Counil, Dag Games Editions, 2004."

""This can be perceived as totally elitist. But it remains a true meeting place. I learned a lot there. Because for me, true intelligence is trying to understand people who have a different logic," adds the first secretary of the Socialist Party."

"Elysée. The entire Parisian business elite, at the forefront of which are Vincent Bolloré, but also Louis Schweitzer, Jacques Séguéla, Jean-Louis Beffa, or Jean-François Cirelli..., will flock to the reception organized at the Pavillon Gabriel in honor of his recent "elevation", where Antoine Bernheim, with his livid face resembling the murdered Marat, will evoke his past as a resistance fighter."

"Organized on October 18, 1944, the first dinner welcomed fourteen guests. Today, it has about 750 members and guests. However, the organizers limit the number of guests to a maximum of 300 people per dinner. There is a rotation. It is possible to be a member and not be invited systematically."

""Without Antoine, Bernard Arnault probably would not have been able to make a name for himself," confirms a former collaborator of the Lazard bank. At that time, Antoine was the savior of the investment bank. After the nationalizations of 1981, Lazard had a near-monopoly on business in Paris."

"When he joined Lazard, his role immediately became to bring money into the bank. "He did well-known and lesser-known deals. Little by little, by getting involved in important matters, he developed a taste for power," his son summarizes."

"Like Pierre Moussa, the president of Generali, Antoine Bernheim is a pillar of Le Siècle. He has always been exceptionally loyal, just like at the dinners of the Revue des Deux Mondes. Politicians speak very freely. Despite the presence of several newspaper directors (Jean-Marie Colombani, Serge July, Laurent Joffrin...) and esteemed writers, the golden rule is that the conversations that take place are never shared outside. "An ideal table of Le Siècle includes a politician, a financier, a business leader, an intellectual in the broad sense, and a perspective on foreign affairs. We also try to mix political sensitivities," adds the person who dedicates four days a month to the meticulous preparation of this "battle plan"."

""Once you are around the table, there is no 'primus inter pares'. No revealed word," adds this acquaintance of DSK. One can express oneself freely about the reform of the school or the new judicial map. "It is not a network. Le Siècle is more about the idea of weaving different networks, it is more about network meshing," adds Denis Kessler, while emphasizing that "there is no equivalent in other countries.""

""When I was there in the 70s, Lazard really had the expertise in mergers and acquisitions that other banks didn't have," he recalls with a hint of quickly suppressed nostalgia. "The evolution of this profession slightly amuses me today.""

"At the time, the other major American investment banks did very few mergers and acquisitions, and generally did not engage in hostile takeovers. The "Midas of finance" André Meyer was a man of deals. He liked making money. "He made a lot of money on the least publicized deals, usually real estate transactions. He bought ranches. He was much more enterprising and aggressive than the traditional investment banker.""

""Antoine Bernheim has a remarkable foresight and an exceptional ability to synthesize," Vincent Bolloré adds. "He is not only a visionary, but also an actor. He is amazingly practical. He doesn't just have ideas, he applies them. Furthermore, he has a huge heart, which means that everything is done with great sensitivity and humanity. This sets him apart from other great financial geniuses who we often hear about.""

""Vincent Bolloré started with a business that existed but was not worth much. We chose a number of targets, one in tobacco, and then a chartering company: Scac," recalls Antoine Bernheim."

"Antoine Bernheim is a fan and pillar of the Siècle, one of the most exclusive clubs in France. He is not the only one. All the ENA graduates, whether they have left the civil service or not, candidates for « pantouflage » or « rétro-pantouflage », love it. And for good reason: it is the last prestigious social gathering that matters. Founded in 1944 by Georges Bérard-Quélin, a lobbyist closely associated with Mitterrand, this Parisian circle brings together approximately 750 high-ranking officials, business leaders, journalists, and intellectuals from all walks of life once a month. It continues to attract a significant portion of the nation's elite. Since January 1, 2008, the Century has undergone a transformation under the presidency of Denis Kessler, a former influential figure in Medef. Through an active policy of co-optation, it aims to become the ultimate melting pot for the elites, who are often bound by the grand bodies and traditional networks with civil society. The ritual is engraved in marble. On the third Wednesday of the month, the members of the Century gather around 8 pm at the headquarters of the Automobile-Club de France, Place de la Concorde. The cocktail takes place on the second floor. Each participant receives a list of guests. Then, at precisely 8: 50 PM, comes the chef's surprise: everyone finds their seven table neighbors in the big library. A table president is supposed to ensure that there is only one conversation. In the best case scenario, you will encounter a lawyer, a banker, a medical professor, some journalists, Poivre d'Arvor, Arlette Chabot... When one no longer holds the position for which they were chosen, they are supposed to retire."

"His first accomplishment was taking control of Scac (Commercial Shipping and Fuel Company), the leading French maritime and air transit company, quietly purchasing 51% of the shares from the Suez Group with Antoine Bernheim's assistance."

"1-Financier: The Biography of André Meyer, A story of Money, Power, and the Reshaping of American Business, by Cary Reich, John Wiley & Sons Inc., 1983-1997. 2-The Master of Masters by Giancarlo Galli, Garzanti, 1995. 3-These gentlemen from Lazard, by Martine Orange, Albin Michel, 2006, p. 91. 4-Ibid., p. 138. 5-These gentlemen from Lazard, op. cit., p. 48. 6-Interview with Figaro on March 20, 2008; collected statements by Sophie Fay. 7-The New Economist from March 22, 1991, investigation by Hedwige Chevrillon. 8-Ibid. 9-The Festive Spirit, by Michel David-Weill, with journalist Patricia Boyer de Latour, Robert Laffont, 2007. 10-Interview with the author. 11-The festive spirit, op. cit. 12-Financier: The Biography of André Meyer, op. cit. 13-Luxury War, the LVMH Case, by Claude Vincent and Philippe Monnin, François Bourin Editions, 1990. 14-Interview in CB News magazine on June 9, 2008. 15-Quoted in the portrait of Antoine Bernheim by Sylvie Hattemer-Lefèvre, "Il Padrone," Challenges magazine dated September 27, 2007. 16-Interview with the author on June 30, 2008. 17-See Investigation into a Capitalist beyond all Suspicion, by Nathalie Raulin and Renaud Lecadre, Denoël, 2000, p. 111. 18-In the autumn of 2010, Antoine Bernheim will get his revenge by joining the supervisory board of the "new Monde" alongside BHL and Laure Adler, the former director of France Culture... "The entire 6th arrondissement," sighs a journalist from the daily newspaper. 19-"Bolloré faces his first setback", L'Expansion, July 10, 1993. 20-These gentlemen from Lazard, op. cit., p. 48. 21-Jacques, Brother of Jesus, by Pierre-Antoine Bernheim, Albin Michel, 2003, p. 120. 22-See The Holy Alliance. The True Story of the Vatican's Secret Services, by Eric Frattini, Flammarion, 2006. Page 344: "On the list of illustrious Freemasons of the Vatican compiled by the Vatican counterintelligence service, called Sodalitium Pianum (Association of Pie), are cardinals such as Augustin Bea, Sebastiano Baggio, Agostino Casaroli, Achille Liénart, archbishop of Lille (...) or Jean Villot, secretary of state to Pope Paul VI." The file on the "Masonic tentacles" in the Roman curia remained buried. 23-CEO of the insurance group Scor, holder of a degree in economics and graduate of HEC, Denis Kessler succeeded Renaud Denoix de Saint-Marc, member of the Constitutional Council, in January 2008. 24-See interview in L'Express on February 20, 2008. 25-The Ghettos of the Jet Set: How the Bourgeoisie Defends its Spaces, Seuil, 2007."

""It was natural, since everything I have comes from him. I am very happy to be his driver in Italy. Moreover, I call his driver 'colleague' when we meet at airports," Vincent Bolloré jokes as he does not hesitate to praise his mentor. "I have immense gratitude towards him because Antoine has always shown exceptional loyalty towards me. Antoine's strength is that he is a constant genius. Most people help you when you're doing well and withdraw when you're not. That's not the case with him.""

"In the Bernheim family, we have always tried to encourage interfaith dialogue. "My father discovered a passion for cardinals," confesses Pierre-Antoine Bernheim, with a touch of amusement. The first one who truly impressed him was Cardinal Villot, the Secretary of State at the Vatican. "He came in a white limousine to my sister Martine's wedding in Rome." For she was marrying a Prince Orsini, "a descendant of one of the two great families of the papal nobility, along with the Colonna." "My sister was introduced to Pope Paul VI," recounts Pierre-Antoine. There had been talk of him officiating the wedding, but he was very ill. She curtsied to him. He said to her, "Rise, madam: an Orsini does not prostrate herself before the pope!""

"Main objective of the "martingale": allow entrepreneurs to maintain control of their companies through a cascade of holdings, while limiting their contribution to the company's equity."

"Owner of vast rubber plantations in Malaysia and Indochina, this small bank led by Count de Ribes, an old friend of his father, proves to be a goldmine. Incidentally, the Rivaud bank has also been suspected at times of serving as a gateway between the RPR and African political regimes, through screen companies named Vidaur or Dauvir (anagrams of Rivaud). By getting his hands on this last vestige of colonial capitalism,"

"Antoine Bernheim will be behind all the moves of the Breton industrialist until 1997, when another influential figure, Alain Minc, largely took over."

""My friend Antoine Bernheim always says that we seize opportunities and then say it was a strategy.""

""Antoine Bernheim sometimes likes to play the victim: 'I am nothing anymore, nobody talks to me...' When he says that he is not interested in money, everyone finds it amusing," corrects one of his close acquaintances. "Comedian, tragedian..." his cousin Bertrand Zivy ironically remarks."

"As for his favorite saying: "gratitude is a disease of the dog, not contagious to humans," he sees it as a form of provocation to "lighten the atmosphere.""

""Antoine Bernheim told Bernard Arnault, 'I am willing to take the risk up to the same amount as you.' He committed to investing 90 million francs on behalf of Lazard, matching Bernard Arnault's investment level. This commitment by Antoine Bernheim gave confidence to other investors. We managed to complete the fundraising round, which was far from certain at the time due to Boussac's second consecutive bankruptcy.""

""I met Bernard Arnault in 1984. It was he who came to see me based on my supposed reputation. At that time, he was not much. It was me who made him. When I met him, he had practically only debts. But he had a strategic vision and goals," recognizes Antoine Bernheim,"

""Yes, he obviously helped, especially on two important occasions: the takeover of Boussac in 1984, and then when LVMH was acquired in 1988. Antoine Bernheim immediately believed in Bernard Arnault. He was impressed by his audacity. It was necessary to assess the risk to determine whether it was fatal or not.""

"Through his system of cascading companies, he has allowed his protégés to build empires with minimal personal investment. In return, he demands absolute loyalty from his clients."

"Often cited as an example, the multiplier effect model of the pulley system will be implemented by Vincent Bolloré, with the help of Antoine Bernheim, in 1988. Through a cascade of six holdings, the Breton industrialist owns 60% of Finfranline, which owns 51% of Omnium Bolloré, which in turn controls 51% of Financière V, which owns 51% of Sofibol (like Bolloré), itself the owner of 51% of Financière de l'Odet, a shareholder of 51% of Albatros Investissements, which in turn holds 40% of Bolloré Technologies17. Astutely, this arrangement allowed Vincent Bolloré to gain control, with an initial investment of 50 million francs (equivalent to 1.3% of the capital of Bolloré Technologies), of a group with a market capitalization of 3 billion francs."

"For him, human psychology is at the core of business. "Money is not my primary interest. It rather serves as a means of power.""

""Certainly, he had targets. He wanted to buy Boussac, which belonged to the Willot brothers, then the Dior perfumes because Dior Couture was part of Boussac. He had targets and considerable determination. But at the time, he didn't have the financial means or the connections. I helped him until he reached the top," sums up the former associate of Lazard."

"Was it ever, moreover, for Antoine Bernheim? When he is not at his office on Boulevard Haussmann, he devotes most of his leisure time to his "second life": his bridge tournaments in Biarritz or Crans-Montana, Switzerland... A way to stay "in the loop" by indulging in the favorite game of American billionaires Warren Buffett or Bill Gates."