5 Things You Might Not Know About Bernard Arnault, The World's Richest Person (For Now)

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5 Things You Might Not Know About Bernard Arnault, The World's Richest Person (For Now)

benzinga2021-06-07

The owner of a luxury goods company has surpassed two well-known entrepreneurs to become the richest person in the world.Bernard Arnault, the CEO and Chairman of LVMH Moët Hennessy Louis Vuitton SA, ...

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Sherily
·2021-06-07
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- ahswee:
  comment my comment thanks!
  2021-06-07
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Damon_6050
·2021-06-07
Like a comment please
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2
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- Sherily:
  Comment back
  2021-06-07
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Ehzx
·2021-06-07
?
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1
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Miracle99
·2021-06-07
Nice
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- Miracle99:
  Done, thanks
  2021-06-07
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- Zfron:
  Pls comment back
  2021-06-07
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- 1Man2Stonks:
  please reply tq
  2021-06-07
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Khai88
·2021-06-07
Comment & like
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- WTurtle:
  [Happy]
  2021-06-07
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- WTurtle:
  Ty
  2021-06-07
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- Khai88:
  Okay tq
  2021-06-07
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TJW1991
·2021-06-07
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- Khai88:
  Okay
  2021-06-07
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- TJW1991:
  ty
  2021-06-07
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- 1Man2Stonks:
  please reply tq
  2021-06-07
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YURICE
·2021-06-07
Amazon’s share price will increase and Jeff Bezos will be the world’s richest guy again.
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- YURICE:
  [Cool]
  2021-06-09
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- Yojessica:
  Yes
  2021-06-08
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- YURICE:
  [Miser]
  2021-06-08
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Arnault also helped boost the careers of Alexander McQueen and Marc Jacobs, who worked for various LVMH brands.Textile Start:Arnault spent $15 million along with other investors who raised $65 million to purchase a bankrupt textile company that owned the fashion house, Christian Dior.The start from textiles is similar to the start for Warren Buffett and Berkshire Hathaway.Arnault took over Financière Agache, a holding company that owned Christian Dior, a department store, a retailer and a diaper maker. Arnault divested all of the components except for Christian Dior and the Le Bon Marche department store.Control of LVMH:Arnault was invited by LVMH Chairman Henri Racamier to invest in LVMH. A joint venture with Guinness saw Arnault increase ownership in LVMH and force out Racamier. Guinness, which is now owned by Diageo plc , invested$408 million in the joint venture. LVMH owned 10% of Guinness shares at the time of the joint venture creation.Arnault and his family now own 47.5% of LVMH shares. Through years of acquisitions, LVMH Moët Hennessy Louis Vuitton now owns brands like Louis Vuitton, Christian Dior, Celine, Moët & Chandon, Hennessy and Tiffany.Arnault has served as CEO and Chairman of the company for decades.Art Collector:Arnault is anart collectorwho prefers modern art. Pieces in Arnault’s collection include works by Pablo Picasso, Yves Klein, Henry Moore, Damien Hirst, Jean-Michel Basquiat and Andy Warhol.Distinct French Honor:One of Arnault's accolades is as a member of the Legion of Honour, the highest honor of merit a person can receive in France both civil and military.The Legion of Honour was founded by Napoleon Bonaparte and includes the roles of knights, officers, commanders, grand officers and grand cross. 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