Bernard Arnault Richest Person in the World
For the last few days manipulation was going on, out of which elon musk was being named as the richest person in the world, due to the loss, it was believed that he would lose his king soon, and it happened. Because the total assets of the launch in the year 2022 have gone down by more than $ 200, due to this, Tesla shares have come to their lowest level in 2 years. Electric car maker company Tesla is facing many problems in the market due to the coronavirus epidemic. The company is battling with the Kovid-19 restriction in China. Let us tell you that Tesla’s China, which is the biggest market after America, has lost about 60% of its employees after Elon Musk bought Twitter and became the CEO. In this way, there has been a big change in connection with the continuously decreasing network. Bernard Arnault has become the richest man in the world at the time of the final. Big businessmen of France about whom you may know very little. That’s why in which blog today we are going to tell about them only.
According to Forbes of Bloomberg, French businessman Bernard Arnault. Today, on the basis of his assets of more than 180 billion, he became the richest person in the world. Talking about the net worth of Elon Musk at this time, it is increasing rapidly. But Avi means today’s day has been $147.9 billion. And India’s Gautam Adani is on the fourth and fifth place, jeff bezos and bill gate. And if we tell you about Bernard Arnault, a French business man who is the President of LVMH Group. This group currently has more than 70 companies, which sell luxury products worldwide. In which companies like louis vuitton and fendi, which sell luxury bracelets and bags, to perfume selling company feny beauty and wine selling company dom perignon are included. These are the companies which are known for selling the most expensive luxury products in the world.
Bernard Arnault Earlier in the year 2019, many topics of discussions were also made among the people. When he bought the famous American jewelry brand Tiffany. At that time his total net worth was US$ 106.9 billion. Which has now increased to 180 billion US dollars. If we tell you, then this whole list comes from the world through G sources, that is the list of Real Time Billionaires of American magazine Forbes, in which Bernard Arnault is on top. But it is said about him in his magazine that he is the godfather of the modern luxury industry around the world because today if people living luxury and lifestyle keep the name of a brand on their face then it is louis vuitton.
Today, from India to China, America and African cities, French company louis vuitton as well as people wearing their other brands are present everywhere. Because it is said that the idea of starting such a luxury industry was none other than Bernard Arnault’s. It is said that the father wanted to earn money from the construction business but Bernard Arnault recognized it at an early age. That by professionalizing the companies of the families manufacturing the products of wearing and fashion, their sales power can be concentrated in the group. And if you see, Bernard Arnault may have been a French businessman, but he knew. That America is a big market for them. That’s why he made his relations in America, that’s why he has much better relation with Trump in America. Apart from this, there is a lot of talk about his closeness with French President Nicolas Sarkozy, and he has a lot of personal relationships with other leaders of the world as well. The benefit of which he has used in his business. But as we told you, he understood the importance of America. That’s why it is said that he learned the tricks of the business world from America and applied them in the European business world. Because the thing to understand is the level of capitalism in America. It is hardly like that in any other country and European countries anyway had a lot of people who were destroyed by colonization. He did not even understand the business of the new era that much better.
This is the reason, that Bernard Arnault first bought a bankrupt textile company boussac from the French Government in the year 1985, again 9000 employees of the company were fired. After this became famous by the name The Terminator. The old franch brand dior was also included in this company. It was the same franch brand. Due to which many people of America were used to. That’s why he had sold all the rest of this company except this departmental store.
Now if you are missing someone because of this type of trading, then it is only Elon Musk. But Bernard Arnault was different from Elon Musk because of this. Because our entire focus was kept only and only on the fashion segment. Because of which, in no time, the company became profitable again for two years i.e. till 1987. After that, he bought those companies which have played the biggest role in taking him to that point today. In the year 1979, he did a high style takeover of LVMH group like this. In fact, with the money he had sold the assets of the textile companies in the beginning, he bought the controlling stake of LVMH. That is, such a part that led to his entry in the company. Actually LVMH had two main companies. louis vuitton and moethennessy both of them merged in 1987. In 1989, Bernard became a Majority Shareholder in LVMH. Since then he is the chairman and CEO of this company. In one, LVMH sells champagne and wine fashion, leather coats, watches, jewelry, perfumes and cosmetics. It has more than 5500 stores across the world. And if you look closely at these stores, you will get a different experience because Bernard Arnault gave his company’s store the appearance of a modern shopping store, which included European history and heritage. Apart from this, it proved to be another better way to stay in the fashion world. When he associated with young fashion designers with the brand. Due to which this brand suddenly became popular among the youth. In this way, this group has gone beyond wearing luxury bus belts and shirts and transformed into cultural currency. That’s why they never give more value than a person’s brand. For which some call him a genius, while some call him creative, the one who explodes people. The special thing about Bernard Arnault is that he buys any loss making farm. Till then they invest. Until he becomes capable of generating money in his name.
Despite all this, you cannot know him much other than a businessman. Because personal life is hidden from too many people. But according to what is known, feet 6 tall, 73 year old Bernard Arnault likes playing piano the most, playing tennis. That’s why he said in one of his interviews. That he wants his company to be the number 1 company in the world because he cannot become the world’s number 1 tennis player and concert pianist. They do both the work very seriously. But there is no number one in that. Apart from this, Bernard Arnault, who is fond of buying artistic things, is also known as a sensitive person for his privacy. That’s why he had sold his private jet to save the information related to his movement around the world from becoming public.
Well if we look at the market value of his company LVMH Group at this time, then it is $ 365.78 billion which is the highest in Europe. Last year, this group abolished the maximum age limit for the post of CEO, after which Bernard Arnault was pointing out that he can lead this group till the age of 80 years. That want to keep the leadership of your company in your hands for a long time.
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After all, why did Elon Musk make Bernard Arnault number one in the richest person?
And if I tell you who has a hand in making Bernard Arnault number one, then it is Elon Musk’s bad luck. Because earlier on December 7, Elon Musk came down from the rank of the world’s richest person for some time. This happened due to the fall in the share price of his electric car company. Because along with this the value of elon musk’s stake in tesla also came down. Apart from this, it made a difference. Elon musk spent $44 billion to buy Twitter. Earlier on November 9, the company value of elon musk started falling below $200 billion. When investors started selling tesla shares, investors were worried that Elon Musk was showing more importance to Twitter. The value of Elon musk mainly rests on the share price of tesla. Apart from tesla, elon musk also has rocket company spaceX and startup company neuralink.
But it is possible that by the time this blog is published. Till then Elon Musk will not become number one again? But this blog is not about the race to become number one, but about Bernard Arnault.