La Samaritaine, a large department store on the banks the River Seine near the Louvre museum, is known as La Samaritaine. The building was purchased by LVMH in 2001, which is the largest luxury conglomerate in the world. It was then renovated seven times over the years.Bernard Arnault, a billionaire, is the CEO and chairman at LVMH. According to Bloomberg, he's the third-richest person in the world. Courtesy LVMHAfter being deemed unsafe in 2005, it was closed for 16 years.Bernard Arnault, one of the richest men in the world, spent 750 million ($895 millions) to renovate the space and transform it into a luxury shopping destination.