French billionaire gives $109 million to rebuild Notre Dame

French billionaire Francois Pinault and son Francois-Henri Pinault have officially signed documents setting aside 100 million euros ($109 million) toward rebuilding Notre Dame Cathedral.

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Tuesday’s donation follows months of delays that left French officials largely reliant on small charity donations to fund the first phase of repairs, following the devastating fire on April 15.

Paris Archbishop Michel Aupetit says “everyone gives what he can according to his needs, but the big donors give us breathing room.”

Francois Pinault, whose international luxury group Kering owns Gucci and Saint Laurent, pledged the money directly after the fire. His rival, French billionaire Bernard Arnault of luxury goods group LVMH, soon followed suit, pledging 200 million euros ($218 million).

Arnault finalized his donation agreement with the Notre Dame Foundation last week.

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