French luxury tycoon Bernard Arnault, the richest man outside America, is buying one of Paris' most iconic restaurants.

The boss of LVMH, Bernard Arnault, has bought one of Paris' most iconic restaurants.

LVMH, the French luxury-goods conglomerate that owns Louis Vuitton, Christian Dior, and TAG Heuer, acquired a majority stake in the tiny 100-year-old bistro Chez L'Ami Louis, renowned for its high prices, Bloomberg reported.

The conglomerate didn't disclose the financial terms of the detail, the report said.

"Chez L'Ami Louis has acquired an unprecedented atmosphere and popularity among Parisians, becoming a go-to destination for those seeking an authentic culinary experience in the capital," LVMH said in a statement.

Arnault — the world's third-richest person, whose wealth Bloomberg puts at $200 billion — has been building up LVMH's portfolio of luxury hospitality companies. This includes the Cheval Blanc and Belmond hotel chains, as well as the travel retailer DFS and the yacht builder Royal Van Lent.

Chez L'Ami Louis is famed for its roast chicken, snails, and finely cut fries. It's said to have welcomed diners including Bill Clinton, Francis Ford Coppola, Keanu Reeves, and Marlene Dietrich. CNN reported that Arnault had also eaten at the restaurant.

But reviews are mixed. While some guests love the restaurant, others have left scathing feedback, leading to an overall 3.5-star rating on Tripadvisor.

"It's undeniable that L'Ami Louis really is special and apart," the Scottish critic Gill wrote in a 2011 review of the restaurant for Vanity Fair. "It has earned an epic accolade. It is, all things considered, entre nous, the worst restaurant in the world."

Arnault regularly jostles with the tech titans Jeff Bezos and Elon Musk for the title of the world's wealthiest person. Bezos currently tops the list with an estimated fortune of $211 billion, according to Bloomberg. Arnault's estimated wealth is more than double that of Europe's second-richest person, Amancio Ortega, the Spanish founder of Inditex.