Ended American dominance on the list of the super-rich
Bernard Arnault :Moët Hennessy Louis Vuitton
The throne of the richest man on earth now belongs to the French citizen Bernard Arnault. Bernard Arnault became the richest man in the world at $ 190.1 billion, ending American dominance on the list of the richest. It is also a lifelong dream to be fulfilled when LVMH, the ruler of the fashion empire, takes over the position held by the American technology giants for two decades. Open the doors of his fashion empire to the world beyond France. Bernard Arnault’s move is aimed at overtaking Microsoft, which is far ahead of him in terms of turnover.
LVMH- Moët Hennessy Louis Vuitton
4560 showrooms in 65 countries. Moët Hennessy Louis Vuitton, a complex of over 100 brands known by the acronym LVMH, is a favorite brand of global celebrities, including Lady Gaga and Emma Stone. LVMH’s five divisions offer hundreds of items, including clothing, jewelry, cosmetics, shoes, bags, purses, and accessories. Who is Bernard Arnold who leads this long brand that has given the world the latest fashion concepts? From a total value of only $ 76 billion in March 2020, there are some estimates behind it that the Covid threat could have been surpassed and increased to $ 196.1 billion in just one year. The word ‘can’t’ does not appear in his dictionary. Get what you want at any cost and overcome any obstacles.
Bernard Arnault beat the world’s richest man, Jeff Bezos, three times in the five days from Monday to Friday last week. Fluctuations in the share prices of both companies led to strong competition. On the first day of the week, Bernard Arnault’s share price rose 1% to $ 300 billion, more than Jeff. But this first place was short-lived. Amazon’s share price soared as the market opened in New York. Jeff Bezos came in first again, beating Bernard Arnault. The same experience was repeated on Tuesday. Bernard Arnaultstarted the day richer than Jeff Bezos. When the market opened in New York, Amazon was back. Wednesday was a day of wonder for Bernard Arnault.1. Bernard Arnault became the world’s richest man, beating Jeff Bezos to $ 8 billion in a single night. Since 2019, there has been a strong rivalry between Jeff Bezos and Bernard Arnault. LVMH shares have gained 26% over the past 6 months. Bernard Arnault has benefited from the growing demand for fashion jewelry in the United States and China.
LVMH specializes in brands that are always new, no matter how old. It will be modern and timeless. Another attraction is the extraordinary selections. He has a personal focus on design. Only classic and contemporary items on sale. No wholesale sales. Discount sale is also out of the stairs.
At a young age, he loved music. But at a young age, he realized that he did not have the talent to develop music to make money. He graduated from the French School of Engineering in 1971. The construction company started by my grandfather was run by my father. He stayed with his father for a long time. He realized from the beginning that this was not his area. Must be known outside of France. An international venture with a French heritage should be started. This was the desire. So one day I was traveling in a taxi. The driver is a New Yorker. During the trip, Bernard Arnault asked the driver if he knew then-French President Jorge Homepage. The answer was no. But he also said he knew Christian Dyer. Christian Dior is a leading fashion brand.
Bernard Arnault learned that Christian Dyer had been put up for sale by the government after the parent company went bankrupt in 1984. Arnold thought this was an opportunity. Christian Dyer acquired the family for $ 15 million and a friend, Lazard, for $ 80 million. Then an eye on Dyer’s perfume division. If so, it’s in the hands of Moët Hennessy Louis Vuitton. The Moet boss was ousted by a friendship with Vuitton‘s boss, and in 1990 Louis Vuitton acquired Moët Hennessy. Moet is a leading French champagne maker.
Since acquiring LVMH, it has spent billions to acquire the world’s leading fashion brands. Fashion lovers’ favorite brands such as Bulgaria, Tiffany, Gucci, and Herms are in Bernard Arnault’s hands.