On the collapse of the revolutionary government he was arrested (1850), but managed to escape to France, where he engaged in commerce and banking, became naturalized, and acquired a large fortune.

He took a prominent part in opposing the Socialist movement, and in April 1870, having subscribed a large sum to the funds of a committee formed to combat the Napoleonic plebiscite, had to leave the country.

Cernuschi bequeathed his collection to the city of Paris, as well as his private residence at No 7. avenue Velasquez on the edge of Parc Monceau in the 8th arrondissement to be used as a museum.

Open to the public today, the Cernuschi Museum collection includes Chinese art, funeral statuary, painted 8th-century silks, neolithic terracottas (3rd millennium BC), Japanese art (mostly bronze objects and sculptures, ceramics, paravents), ancient Persian bronze objects, an Amithaba Buddha from the 8th Century, plus examples of calligraphy.

Of the latter he was an ardent champion, and the word itself is commonly supposed to have originated with him—at least in its English form it is first found in his Silver Vindicated (1876).