Luxury-goods tycoons pledge R4.7 billion to restore Notre-Dame

Luxury-goods tycoons pledge R4.7 billion to restore Notre-Dame

Two luxury-goods tycoons donated a total of $339 million, which is more than R4.7 billion, to restore the Notre-Dame Cathedral after it burned down in Paris on Monday.

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On Tuesday, two arch-rivals pledged billions to help rebuild the Notre-Dame Cathedral in Paris. Billionaire Francois Pinault, who heads the haute couture fashion group, Kering, donated more than $113 million, an estimated R1.55 billion, to the rebuilding of the 'French symbol of history'.

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Moments after Pinault's generous donation, the Arnault family pledged double the amount, donating R3.1 billion.

The South African reported the president of the Ile-de-France region, Valerie Pecresse, donated a further €10 million, which is roughly R158.8 million.

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Earlier today, reported that the Notre-Dame Cathedral burned down after its roof caught on fire.

It has been reported that it took more than 12 hours after the fire started for firefighters to put out the blaze.

The country's president, Emmanuel Macron, vowed to entirely rebuild the Cathedral and he started a funding campaign. Well, we guess the donations from the Pinault and Arnault families would cover a lot of the cost.

Although the money is streaming in, Sylvain Charlois of the Charlois group in Murlin said during a radio interview that it would take many years - decades even - to fully rebuild the historic landmark.

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