French billionaire to give $109 million to repair Notre Dame Cathedral

François Pinault, currently the second-richest person in France, finalized his $109 million gift to help rebuild the Notre-Dame Cathedral on October 1, according to the Associated Press.

Soon after the Cathedral caught fire in April, Pinault's son announced that the family would donate €100 million, or $113 million, to repair the 800-year-old building. In the aftermath of the devastating fire, France's superrich collectively pledged over €400 million, or $452 million, to the iconic cathedral's repairs; that includes fellow fashion mogul Bernard Arnault, who also announced that he'd be pledging $226 million to the cause. However, in the ensuing months, many of those promises were left unfulfilled.

François Pinault is tied to some of the biggest names in fashion: Gucci, Alexander McQueen, and Yves Saint Laurent. As the owner of Kering luxury group, his family manages over a dozen high-end brands.

Alongside other major holdings, such as a winery in Bourdeaux and a cruise line in Marseille, Pinault is one of the world's biggest private art collectors. His collection includes over 3,000 works of art and is worth over $1.2 billion.

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