France is determined to rebuild their beloved Notre Dame Cathedral after a devastating fire yesterday and three of the country's richest people have stepped up to offer funding for what promises to be an immense and expensive undertaking.

LVMH Group which owns luxury brands such as its namesake Louis Vuitton, Moet, Hennessy and others like Christian Dior, Givenchy, Dom Perignon, Veuve Clicquot, and Sephora and its CEO Bernard Arnault have committed 200 million Euros to the project. Arnault was just named by Bloomberg as the third-richest person in the world with a net worth of $90.4 billion -- more than that of Warren Buffett or Mark Zuckerberg.

Competing group Kering, led by CEO Francois-Henri Pinault, who is married to Salma Hayek, was the first to pledge assistance with a commitment of 100 million Euros toward the rebuilding of the famed church. Kering owns luxury heritage brands Gucci, Saint Laurent, Alexander McQueen, Balenciaga, and others. Pinault said yesterday in a statement: "This tragedy is striking all the French people, and beyond that, all those attached to spiritual values. Faced with this tragedy, everyone wishes to give life back to this jewel of our heritage as soon as possible."

French oil and gas company Total has also pledged 100 million Euros. The Bettencourt Meyers family, owners of 33% of L'Oreal, have matched Arnault's pledge of 200 million Euros. L'Oreal controls brands like Maybelline, Lancome, Garnier, and Kiehl's. The head of the family, Francoise, is the richest woman in the world with a net worth of $53.5 billion, according to Bloomberg. She inherited her stake in the company from her mother Liliane Bettencourt who died in 2017. She is the granddaughter of the company's founder.

French President Emmanuel Macron has promised to rebuild the site, saying an international fundraising campaign will be launched to fund the restoration. The 850-year-old church is now vulnerable to water damage, as 2/3rds of the roof has collapsed. Even beginning the project could take time because immediate action needs to be taken to prevent further damage, after firefighters battled blazes for nine hours.