LVMH Chief Briefly Dethrones Elon Musk As World’s Richest Man
Tesla, SpaceEx and Twitter boss Elon Musk briefly lost the top spot as the world’s richest man to Bernard Arnault, Chairman, Co-founder and Chief Executive of Louis Vuitton’s parent company LVMH, as per Forbes
Bernard Arnault: World’s Richest?
Elon Musk has a net worth of $185.7 bn. Musk's net worth dropped below $200 bn earlier on Nov 8 as investors dumped Tesla's shares alarmed about Musk’s preoccupation with Twitter
*Source- Forbes
Fall In Elon Musk’s Net Worth
Arnault, world's second richest man, has personal wealth worth $185.3 bn, as per Forbes. Arnault's quest to create a group of luxury brands in the 80s culminated in establishment of LVMH
Bernard Arnault’s Net Worth
Born among the French elite in 1949, Arnault began his career as an engineer working for his father’s construction company. He gained control of the family business at the age of 25
Arnault’s Early Life
Arnault always had a passion for luxury products, driving him to purchase a famous but bankrupt-textile company, Boussac. He went on to acquire and merge several companies
Arnault’s Passion For Luxury
Bernard Arnault is known in the fashion world for his ruthless tactics of ousting founders or partners from dormant family brands, earning him the nickname ‘The Wolf in Cashmere’
Arnault, The Wolf In Cashmere
Under Arnault’s charge, the LVMH Group has incorporated 75 luxury brands including Tiffany & Co., Bulgari, Fendi, Dom Perignon, Sephora, making it the world’s largest luxury goods company
LVMH Group
While Arnault’s business tactics have always earned him huge reward, he has also lost a few deals, most famously, Gucci and Hermes
Arnault's Lost Deals
Bernard Arnault’s five children, Delphine, Antoine, Alexandre, Frédéric and Jean, along with his niece Stephanie Watine Arnault, have official roles in brands controlled by him