How The World’s Richest Person Bernard Arnault Made His Money
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- čas přidán 28. 08. 2024
- This French tastemaker came from a wealthy family and turned millions into hundreds of billions over nearly four decades. For the second year running, luxury goods magnate Bernard Arnault is the richest person in the world, ranking number one on Forbes’ World’s Billionaires list. He’s $22 billion richer than in 2023, thanks to yet another record year for his luxury goods conglomerate, LVMH, which owns an empire of 75 coveted brands including Louis Vuitton, Christian Dior and Sephora. The group announced $16.5 billion in net profit on $94 billion revenues for 2023, sending its stock 5% higher over the past year.
The 75-year-old tycoon has an estimated $233 billion fortune on the annual Forbes list, giving him a $38 billion lead over his closest challenger, Elon Musk, who retained second place this year. That gap is wider than last year, when he outpaced Musk by $31 billion. While Musk’s high-profile tribulations in 2023 dented his wealth-most notably, when a Delaware judge voided his 2018 award of Tesla stock options in January-Arnault had a much better twelve months. In April 2023, LVMH became the first European company to reach a market capitalization of $500 billion.
This year marks Arnault’s 28th consecutive appearance on Forbes’ World’s Billionaires ranking. He first made the cut in 1997, with an estimated $3.1 billion fortune. That number, adjusted for inflation, would be about $6 billion today-meaning Arnault has added more than $200 billion to his net worth thanks to the growth of LVMH over the past two decades. He quickly climbed the ranks, vaulting into the top 20 richest by 2005 (worth $17 billion) and then becoming the world’s fourth richest in 2011 (worth $41 billion). His fortune took a gigantic leap in 2018, rising to $72 billion from the prior year’s $41.5 billion-though he still ranked No. 4. In 2023, he overtook Elon Musk to become the world’s richest person on Forbes’ yearly list for the first time.
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Someone you never heard of that can date their family’s heritage back a few thousand years.
I'm getting Succession vibes here.
And eldest son Antoine already has two sons so the family legacy will continue for at least 50 years more.
The funniest thing is that all I am reading is the wealth gap in these comments, or his fortune is ridiculous. What is ridiculous is that someone is the worlds richest man, and their source of wealth is luxury goods. If people who cant afford luxury goods stopped buying luxury goods, Bernard wouldnt break top 1000 on this list. 😂
I keep noticing this. Like the socialists are just targeting these videos.
This is the most ironic part! Luxury goods aren't marketed to the rich, wealthy, or upper class. They are targeted to the middle and lower class. Even though, the majority of consumers can afford LVMH's products, it's obvious that there are many who can't and use it as status symbols. Bernard Arnault is still no. 1 to me regardless of if he's not making something as impressive or impactful as the technology sector. And I think he would still a billionaire if the ones who couldn't afford didn't buy, but probably 300 or 400 rather than 1.
@@kevinwang1211Bingo! 🔨it!
I like the business mind behind the brand. It’s fascinating. Though, as a frugal person I don’t quite feel the need to buy those consumer goods even if you have a great deal of money. Reckless consumers basically make LMVH wealthy. What’s the value to humanity and civilization in the long run?
There are richer people then him but they just don’t want to disclose their wealth.
As a newbie that wants to invest, you must have these three things in mind
1. Have a long term mindset.
2. Be willing to take risk.
3. Be careful on money usage, if you're not spending to earn back, then stop spending.
4. Never claim to know - Ask questions and it's best you work with a financial advisor.
💯
#5 Don't work with an advisor you found in the comments section
#6 Don be afraid to start a little conservative... as long as you're getting a better return than what you had, you're moving forward. Some can't afford to lose their azz on an investment
Poor people buying LVMH products to try and look rich, while this guy is actually Rich, Rich. The irony. 😂
That goes hard
Thanks too Fashion!
It's not how you start it's how you finish
he started very well off
I wish I was richer than Bernard Arnault in the future.
Was😂😂😂?
Bro living in past 😅
And future at the same time
Motivation ❤️
women
One day i will become the richest man on earth!
Looks like I’ve got competition
@@project_radarc 👿 Let's f*******g go...
Lets do it
What about Putin?
Technically nothing really belongs to him, all to the collective oligarchs. Putin is powerful, but in terms of money, he is a small fry to America’s biggest enterpreurs
Thanks for sharing such a good information
Dude sells 200$ bags for 2000$... and a lot of them. it is like the standard for badge of honor amongst gold diggers.
Bernard Arnold top to top people
Change life one person ... Cab driver. Goods
It is berny, what's more?
ohh, my goshh! this man have everything from earth.
Nothing is luxury to him anymore
Despite all the financial struggles i and my family faced, everything is finally falling into place! $47,000 weekly profit and riches I'll always praise the Lord..
What do u do?
Same here, with my current portfolio made from my investments with my personal financial advisor I totally agree with you
@@Ean72420this is just a bot don't bother
You did not answer the title of the video. More of a bio.
You could probably buy a continent with that type of money
Hy forbes
❤❤🎉🎉 how do guys become so rich -do the job money will support u
The greatest innovation of Europe in the 21st century is drapes 🫣 😂
He overtook Elon Musk and became the richest person in the world, wow
Did they pick up chrome hearts? Or was that fake news I heard
00:13 벨라 아노
He stole the company
Don't be a f00I.. If you want a company..just buy as many shares as you can.. AND you will get it.. Therefore, he has the right to possess it.
It kind of says something about the world when the richest person in the world, during a time of income disparity and global recession, is the richest person in the world.
what?
The interesting thing is that the Arnault Family dresses and lives very, very simple. Even though they control this massive empire.
Finished watching 4:42
And Elon is one man who is richer than them, some things just don’t make sense
May I have a billion dollars at least?
Smell very great 🎉
Mexicans buying Luis, and Dior because of corridos 💰🇲🇽🤷♂️
I will own it
While a lot starve
Musk second on the list?
GOAL OF LIFE IS TO BECOME RICHEST PERSON & REJECTING EVERY INDIAN🇮🇳 ON SOCIAL MEDIA📺 LIKE BERNARD ARNAULT
Я же мусор как американец а как Салманов нет
👋🏾
Wealth of the wicked is layed up for me they shall gather it up but I shall put it on he that by usery and Unjust gain increaset his substance he shall gather it up for me because I pity the poor they work for me
Wealth of the wicked is layed up for me they shall gather it up but I shall put it on he that by usery and Unjust gain increaset his substance he shall gather it up for me because I pity the poor they work
The wealth gap keeps getting bigger, yayyy
Government debt and central banking policy.
I mean yeh coz if big businesses want to grow more they will just make rich ppl richer
Wealth of the wicked is layed up for me they shall gather it up but I shall put it on he that by usery and Unjust gain increaset his substance he shall gather it up for me because I pity the poor he work
Pokenjam mu se usta .. nek posalje na brata 200k🎉
He is old. Money doesn’t matter to him.
YEHOVAHS watching 22
He still a loser!
Gg
But Elon Musk has done things to benefit mankind
❤🎉
You are super duper brains in Business.There for you No.1.Richest Man in this World.Thanks.🕉️🌹🌹🌹🌹🌹🌹🌹♥️♥️♥️♥️♥️♥️♥️♥️♥️🗽🗽🗽
He stole the company
Wealth of the wicked is layed up for me they shall gather it up but I shall put it on he that by usery and Unjust gain increaset his substance he shall gather it up for me because I pity the poor they work