Louis Vuitton Owner Bernard Tops Jeff Bezos As The World’s Richest Person

[Anta Assamey]

Bernard Arnault and family, owners of French Luxury group Louis Vuitton Moet Hennessy (LVMH), have briefly surpassed and dethroned Amazon founder Jeff Bezos to become the world’s richest. Earlier this month, he had overtaken Tesla’s celebrity chief executive Elon Musk to become the world’s second richest person.

Arnault’s net worth has been estimated at $186.2 billion, according to Forbes. In the last one and half years, Bernard Arnault’s net worth rose by $110 billion taking his overall net worth to $161.2 billion. Louis Vuitton Moet Hennessy is a symbol of luxury and it has reported a 32% yearly surge in the revenue to 14 billion euros in the first quarter of 2021.

LVMH Moët Hennessy — Louis Vuitton is a uniquely diversified group which specialises in luxury products, be it wine, champagne, leather goods, apparel, perfumes, cosmetics, watches, jewellery, etc. Louis Vuitton, Tag Heuer, Bulgari, Givenchy, Marc Jacobs, Christian Dior, Moët & Chandon are some of the notable brands under LVMH Moët Hennessy — Louis Vuitton group.

Earlier this year, LVMH acquired America’s largest jewellery maker Tiffany & Co. for $15.8 million which is the largest deal in the luxury fashion business to date. Bernard Arnault’s LVMH oversees an empire of 70 brands including Givenchy, Guerlain, Marc Jacobs, Sephora, Tiffany & Co., Emilio Pucci, Fendi, Loro Piana, Nicholas Kirkwood, Thomas Pink, R.M Williams, EDUN, Moynat and Donna Karen, along with a host of jewellery brands, including TAG Heuer, De Beers and Bulgari. Arnault owns a 96.5 per cent stake in Christian Dior, which controls 41 per cent of LVMH.

Bernard Arnault dared to be unconventional:

After graduating with an engineering degree in 1971, he joined his father’s company, Ferinel. In 1976, he convinced his father to liquidate the construction division of the company, and change focus to real estate. Developed a speciality in holiday accommodation. Bernard then became CEO in 1977 and succeeded his father as president of the company. In 1984 he used the success of Ferinel to acquire the fledgeling textile company which owned the Christian Dior brand. He sold most of the companies’ assets and kept only the prestigious Christian Dior brand. He was able to leverage the sale of other parts of the company, and the success of the resurgent Christian Dior to buy a controlling interest in LVMH.

In the late 1980s two major brands, Louis Vuitton and Moet Hennessy merged. Moet Hennessy is a reputed champagne producer. Bernard provided $1.5 billion making him LVMH’s largest shareholder. By 1989, Bernard owned 43.5% of the company and was unanimously elected chairman of the executive management board. LVMH was stratospherically successful. Consequently, the share value of LVMH has soared along with Bernard’s net worth helping him knock Bill Gates off the number 2 spot on the global rich list. Bernard’s wealth is now more than 3% of the French economy and is likely to continue growing. Bernard Arnault also invested in Netflix in 1999 and has a large art portfolio.

[kittaya]

ni yavaaaaa raii

[kittaya]

villu rich ppl money tho rich ayyadu... he is not great... 

amazon is great... all kinds of ppl shops there

[Sarvapindi]

asal avi evad kontad vaa entha rich aina

[DummyVariable]

Made rich by women mostly 

[Raven_Rayes]

19 minutes ago, kittaya said:

villu rich ppl money tho rich ayyadu... he is not great... 

amazon is great... all kinds of ppl shops there

French people are by birth great ra. Americans are boring.

[reality]

30 minutes ago, Anta Assamey said:

In the last one and half years, Bernard Arnault’s net worth rose by $110 billion taking his overall net worth to $161.2 billion.

That’s insane....

That too Corona time lo fashion/luxury products sales... 

[no01]

11 minutes ago, Sarvapindi said:

asal avi evad kontad vaa entha rich aina

LVMH kindha chaala brands unnai...and each brand sell many products like Perfumes/Fragrances, makeup related etc which we all buy and can afford...

and now a days desi upper middle class ppl also buying LV handbags and few products which are like $1000 - $3000 range....ilanti vallu chaala mandhi unnaru...once in a life time annattu feeling but they eventually keep buying every few yrs :D 

and Europe lo designer stores motham Chinki valle untaru anta...full money vallaki and they are spending like anything

[DummyVariable]

7 minutes ago, reality said:

That’s insane....

That too Corona time lo fashion/luxury products sales... 

Massive sales in China

[Ryzen_renoir]

16 minutes ago, reality said:

That’s insane....

That too Corona time lo fashion/luxury products sales... 

Because the uber rich got huge bailouts and stimulus packages . Luxury car sales , yacht sales , private jet sales are through through the roof right now . 

Seriously most famous yacht makers have 2,3 years of backlog orders . 

World leaders need to raise tax on rich asap

[phatposts]

19 minutes ago, no01 said:

LVMH kindha chaala brands unnai...and each brand sell many products like Perfumes/Fragrances, makeup related etc which we all buy and can afford...

and now a days desi upper middle class ppl also buying LV handbags and few products which are like $1000 - $3000 range....ilanti vallu chaala mandhi unnaru...once in a life time annattu feeling but they eventually keep buying every few yrs

and Europe lo designer stores motham Chinki valle untaru anta...full money vallaki and they are spending like anything

adaithe so true. vaalla tour busses lo shopping trip stops chala ekkuva. edo raithu bazaar lo konattu konnaru nenu Paris and Milan lo choosa. vaammo. aa malls mundara nunchuni selfie lu etc. cheap gaa untadi. Memu Paris oka chota breakfast ki velte waiter bayata vaddu lopala koorchondi annadu. Enduku ante edurugunda mall ki tourist bus vastundi ee time and they dont behave well, meeku chala inconvenient anduke telling annadu. Vaadi maata vini lopala koorchunnam. Bayata koorchununte kaakula type lo meeda padi maa food ettikelle poyavelleemo annanta bhayam vesindi. nasty behavior asala

[DummyVariable]

11 minutes ago, phatposts said:

adaithe so true. vaalla tour busses lo shopping trip stops chala ekkuva. edo raithu bazaar lo konattu konnaru nenu Paris and Milan lo choosa. vaammo. aa malls mundara nunchuni selfie lu etc. cheap gaa untadi. Memu Paris oka chota breakfast ki velte waiter bayata vaddu lopala koorchondi annadu. Enduku ante edurugunda mall ki tourist bus vastundi ee time and they dont behave well, meeku chala inconvenient anduke telling annadu. Vaadi maata vini lopala koorchunnam. Bayata koorchununte kaakula type lo meeda padi maa food ettikelle poyavelleemo annanta bhayam vesindi. nasty behavior asala

 

Vallatho pettukunte

[jefferson1]

Ikkada kuda chala craze undi, shops mundu line waiting cheyali 

stimulus checks money antha vadike velli untundi 

[DummyVariable]

4 minutes ago, jefferson1 said:

Ikkada kuda chala craze undi, shops mundu line waiting cheyali 

stimulus checks money antha vadike velli untundi 

Only when they are on sale, but yeah many people buy them here. GF undhante birthday ki $3k- $5k shavarame. 

[Jobsforeveryone]

1 hour ago, Anta Assamey said:

Bernard Arnault and family, owners of French Luxury group Louis Vuitton Moet Hennessy (LVMH), have briefly surpassed and dethroned Amazon founder Jeff Bezos to become the world’s richest. Earlier this month, he had overtaken Tesla’s celebrity chief executive Elon Musk to become the world’s second richest person.

Arnault’s net worth has been estimated at $186.2 billion, according to Forbes. In the last one and half years, Bernard Arnault’s net worth rose by $110 billion taking his overall net worth to $161.2 billion. Louis Vuitton Moet Hennessy is a symbol of luxury and it has reported a 32% yearly surge in the revenue to 14 billion euros in the first quarter of 2021.

LVMH Moët Hennessy — Louis Vuitton is a uniquely diversified group which specialises in luxury products, be it wine, champagne, leather goods, apparel, perfumes, cosmetics, watches, jewellery, etc. Louis Vuitton, Tag Heuer, Bulgari, Givenchy, Marc Jacobs, Christian Dior, Moët & Chandon are some of the notable brands under LVMH Moët Hennessy — Louis Vuitton group.

Earlier this year, LVMH acquired America’s largest jewellery maker Tiffany & Co. for $15.8 million which is the largest deal in the luxury fashion business to date. Bernard Arnault’s LVMH oversees an empire of 70 brands including Givenchy, Guerlain, Marc Jacobs, Sephora, Tiffany & Co., Emilio Pucci, Fendi, Loro Piana, Nicholas Kirkwood, Thomas Pink, R.M Williams, EDUN, Moynat and Donna Karen, along with a host of jewellery brands, including TAG Heuer, De Beers and Bulgari. Arnault owns a 96.5 per cent stake in Christian Dior, which controls 41 per cent of LVMH.

Bernard Arnault dared to be unconventional:

After graduating with an engineering degree in 1971, he joined his father’s company, Ferinel. In 1976, he convinced his father to liquidate the construction division of the company, and change focus to real estate. Developed a speciality in holiday accommodation. Bernard then became CEO in 1977 and succeeded his father as president of the company. In 1984 he used the success of Ferinel to acquire the fledgeling textile company which owned the Christian Dior brand. He sold most of the companies’ assets and kept only the prestigious Christian Dior brand. He was able to leverage the sale of other parts of the company, and the success of the resurgent Christian Dior to buy a controlling interest in LVMH.

In the late 1980s two major brands, Louis Vuitton and Moet Hennessy merged. Moet Hennessy is a reputed champagne producer. Bernard provided $1.5 billion making him LVMH’s largest shareholder. By 1989, Bernard owned 43.5% of the company and was unanimously elected chairman of the executive management board. LVMH was stratospherically successful. Consequently, the share value of LVMH has soared along with Bernard’s net worth helping him knock Bill Gates off the number 2 spot on the global rich list. Bernard’s wealth is now more than 3% of the French economy and is likely to continue growing. Bernard Arnault also invested in Netflix in 1999 and has a large art portfolio.

Louis Vuitton bought Tiffany & Co. for $15.8 billion....