Bernard Arnault, the billionaire and head of the luxury goods conglomerate LVMH, continues to expand his portfolio of exclusive properties with the acquisition of the historic Citroën Palace in Paris. This remarkable estate, once the residence of André Citroën, the founder of the French automotive company, has recently changed hands from its previous owner, a Saudi princess. The palace is located at Rue Octave-Feuillet in the prestigious 16th arrondissement of Paris, renowned for its luxurious properties and storied history.

The Citroën Palace boasts over 1,500 square meters of living space and features an expansive garden that adds to its grandeur. Constructed over a century ago by André Citroën, the property reflects the vision and ingenuity of an influential figure in the automotive industry. This acquisition signifies not just a personal investment for Arnault but also highlights the continuing allure of historic properties in Paris for ultra-wealthy individuals looking to enhance their real estate portfolios.

Media outlets, including the investigative site Glitz.paris, have reported enthusiastically on this transaction, which underscores the trend of high-net-worth individuals acquiring notable properties. This sale exemplifies the intersection of luxury real estate and historical significance, as such properties often serve as both investments and symbols of status in an increasingly competitive market for opulent residences.