One of the biggest news in the world of business was that Amazon’s Jeff Bezos was overtaken by Bernard Arnault of LVMH as the world’s richest man. As of today, Bernard Arnault sits at a comfortable 8 billion USD lead over Jeff Bezos as Amazon share prices have taken a further hit.
72-year-old Bernard Jean Étienne Arnault is a French businessman and art collector who owns the largest luxury brand in the world – Louis Vuitton Moet Hennessy, founded in 1987. This holding company in turn owns some of the most iconic brands of modern times in various verticals like
Wines & Spirits – Belvedere Vodka, Cloudy Bay Wines, Moet & Chandon Champagne, Dom Perignon, Champagne, Krug Champagne, Veuve Clicquot Champagne and Hennessy Cognac.
Fashion – Christian Dior, Fendi, Givenchy, Louis Vuitton, Marc Jacobs, and Stella McCartney
Watches & Jewellery – Bulgari, Fred, Hublot, TAG Heuer, and Tiffany & Co.
LVMH is one of the largest companies in the world in terms of market cap, with reported sales of over USD 20 billion last year. this phenomenal growth was fuelled by smart acquisitions and focussing solely on the luxury brand segment. Bernard Arnault is also a patron of the arts in France and has the reputation of being a successful art collector.
By becoming the richest man in the world, he has overtaken Jeff Bezos, Elon Musk, Bill Gates, Mark Zuckerberg, and Larry Page. He along with Francoise Bettencourt Meyers, who is also French and owns L’Oréal, are the only non-Americans in the top 10 richest people on the list. He is also the only non-American to have a net worth of over USD 100 billion.
This growth to the top has not been free of controversy and that included allegations of him applying for Belgian citizenship to avoid French taxes. The latest turmoil being faced by the corporate giant, however, is one from his customers.
Our sources tell us that a group of over 45 American men who call themselves Jilted Boyfriends Association of America (JBAA) have filed a petition to have LVMH and Bernard Arnault openly acknowledge their contribution to the growth of their revenue. The spokesperson of JBAA, who wished to remain anonymous, told us that without them, Bernard would have never got the title of the richest man in the world and they need to be given the credit that is due.
Read the full article at: http://thedailyvanilla.com/2021/08/12/jilted-boyfriends-take-credit-for-bernard-arnaults-rise-to-the-title-of-richest-man/