2024-07-29 19:45:09
New Delhi: The Olympic Games have started in Paris, the capital of France. Meanwhile, a picture has come from there which is being discussed on social media. In this, a person is standing between India and Asia’s richest man Mukesh Ambani and his wife Nita Ambani. This is Bernard Arnault, the head of the world’s largest luxury brand LVMH. LVMH is also the sponsor of the Paris Olympics. This is the reason why the imprint of this company can be clearly seen everywhere in these games. Arnault was the richest man in the world till a few months ago but currently he is at number three in the list of rich people. His net worth is $ 188 billion and this year it has fallen by $ 19.2 billion. The interesting thing is that he is the only non-American in the list of the world’s top rich people. Ambani is at number 11 and Gautam Adani is at number 12 in this list. A look at Arnault’s profile… Arnault is the CEO of the world’s largest luxury goods company LVMH Moët Hennessy. Arnault and his family own a 47.5% stake in the company. The luxury house currently owns more than 70 brands, including Louis Vuitton, Christian Dior, Fendi, Moët & Chandon, Hennessy, Sephora and Veuve Clicquot. Bernard owns a 96.5% stake in Christian Dior. His art collection includes modern and contemporary paintings, including paintings by Picasso and Warhol.
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Why was it named ‘The Terminator’
Born on March 5, 1949, Arnault entered the luxury goods market in 1984. He acquired a textile group that also owned Christian Dior. Four years later, he sold the rest of the company’s businesses and bought a controlling stake in LVMH. A few years ago, he bought American jewellery company Tiffany & Co for $15.8 billion. This was his group’s biggest deal so far.
In 1985, Arnault bought France’s bankrupt government textile company Boussac. After this, he fired nine thousand employees within two years. Due to this, Arnault came to be known as ‘The Terminator’. He sold most of the group’s assets except the Dior brand and focused only on the fashion segment. Arnault has reached the top spot in the rich list many times but could not stay there for long. Currently, he is at number three in this list. America’s Elon Musk is at number one and Jeff Bezos is at number two.