François Pinault, who founded PPR, the luxury goods company that owns fashion labels including Gucci and Stella McCartney, has paid £20 million for a house in Chelsea, south-west London.
Pinault, whose son, François-Henri, is married to the Hollywood actress Salma Hayek, is now planning a programme of alterations to the Queen Anne revival property.
Mr Pinault, who owns the Château Latour wine estate, is one of France’s two richest men.
In 1993 François Pinault paid £86 million and is now part of of his holding company Groupe Artemis.
He possesses one of the biggest collections of contemporary art in the world and has collected works by Damien Hirst.
In 1998, the tycoon, who owns two art galleries in Venice, bought a majority share of Christie’s auction house.
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