Bernard Arnault, 73, and his family now top of Forbes' billionaire list with $184 billion, knocking ElonMusk off the top spot. 🤑 He gradually LVMH into a global luxury empire by buying up iconic brands... More here:
LVMH — the world’s leading luxury group — boasts more than 75 brands, acquired over time.
He had just left the elite Ecole Polytechnique and convinced his father to transform the construction business into real-estate development instead. However, he embarked on a drastic reorganisation of the firm, only retaining some of its businesses, including the fashion house Christian Dior.“My father was surprised when I went to see him saying: ‘We’re going to redirect the family group and try to invest in something more promising, Christian Dior’,” the businessman recalled recently on Radio Classique.LVMH was born out of the merger in 1987 of trunk-maker Louis Vuitton and the wines and spirits group Moet Hennessy.
“The upshot now is that no one else can know where I’m going because I lease planes,” he said on Radio Classique. Arnault abandoned his bid to secure Belgian nationality in 2013 issuing a mea culpa after it whipped up a storm of controversy which rumbled on for months amid public debate over the tax arrangements of the wealthy.
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