There’s fashion, and then there’s Bernard Arnault. Of course, Arnault has long been one of the world’s richest people. But the record sales reported last year placed him above Zara’how Much Is The Money Belt Worth Amancio Ortego on Bloomberg Billionaire’s Index to become European’s wealthiest billionaire. Here’s what to know about the French billionaire Arnault. Bernard Arnault, billionaire and chief executive officer of LVMH Moet Hennessy Louis Vuitton SE, looks on during the inauguration of the LVMH start-up accelerator at Station F technology campus in Paris, France, on Monday, April 9, 2018.
As the world’s richest European, Arnault’s net worth has grown by tens of billions of dollars over the last year due to a high-profile buy-out of Christian Dior and record numbers at LVMH, according to Forbes. 8 billion, making him the third-richest person in the world ahead of Buffett. 3 billion, place him as the fourth-richest person. 10 in its annual Billionaires List, falling behind Zara’s Ortega, who was then the richest European, and Facebook CEO Mark Zuckerberg, among others. Arnault’s high net worth is in part tied to his stake in Christian Dior. 1 billion deal in April 2017 and the Arnault family moved to purchase the remaining shares they didn’t already own.
LVMH is a dominate force in fashion, owning brands like Louis Vuitton, Fendi, Céline, Christian Dior, Givenchy, Marc Jacobs and more. The company owns a number of cosmetics and perfumes, notably Fenty Beauty by Rihanna, which had an enormous launch last year online and in more than 1,620 stores around the world. LVMH has a host of other businesses under its belt, including the retail chain Sephora, as well as watch and jewlery brands like Tag Heuer and Bvlgari. Perhaps one of the most dominant forces at the company is Louis Vuitton, which saw better-than-expected sales last quarter with much of its growth coming from China, according to Bloomberg. Indeed, the brand had a number of high-profile moments these last few months, with a fashion show at the Louvre and the appointment of Virgil Abloh, a notable fashion designer and creative director for Kanye West, as the brand’s artistic director for men’s wear.
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