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This is the first marriage for Olsen and the second for banker Sarkozy.
The half-brother of France's former leader, Nicolas Sarkozy, was married to writer Charlotte Bernard for 14 years before they separated in 2010.
Since then, they've been a frequent presence at basketball games in New York City, where they live together in a .25 million townhouse.
This will be the former star's first marriage, and Sarkozy's second.
He was previously wed to Charlotte Bernard, with whom he has two kids, Julien, 14, and Margot, 11.
PHOTOS: The Olsen twins through the years "Mary-Kate has made him a better father.
Olsen and Sarkozy are notoriously private and rarely talk about each other in public.
In 2015, they upgraded to a .5 million home by the Turtle Bay Garden.
star Mary-Kate Olsen's love life has gone international by way of former French president Nicolas Sarkozy's 42-year-old half-brother, Olivier Sarkozy.
"Mary-Kate's family thinks Olivier is the best thing to happen to her," an insider tells Us.
"They love him." PHOTOS: Mary-Kate and Ashley -- whose style do you like better?