What makes him the richest man in the world

It is said that the new year is new, and the world’s richest person will change hands in 2020! According to the official website of the US “Forbes” magazine on the 18th, with a net wealth of US $ 116.5 billion, Bernard Arnold, president of French Moët Hennessy-Louis Vuitton (LVMH) Group and 70-year-old surpassed Amazon founder Bezos. Ascended to the top of the latest list of the world’s richest people.

Russian satellite news agency France Station reported on the 18th that Louis Vuitton’s share price rose 0.7% on the 17th, helping its parent company LVMH Group President Arnault ’s net assets increase by $ 1.9 billion. On the same day, Amazon’s stock price fell 0.7%, and Bezos lost $ 760 million in net assets to $ 115.6 billion. The $ 900 million loss may be nothing but a beast for Bezos, but this is enough to make him fall from the first place in the Forbes Global Billionaires list to the second place, while Microsoft co-founder Bill Gates still Ranked third. Fourth and fifth on the list are “share gods” Buffett and Facebook founder Zuckerberg.

Born in France in 1949, Arnault is the founder of the LVMH Group, known as the “Godfather of Luxury in the World”. The LVMH group he controls owns 75 luxury related brands, including Hennessy, Louis Vuitton, Dior, Givenchy, Fendi, etc., whose business covers wine, fashion leather goods, perfume cosmetics, watch jewelry, and boutique retail (including duty-free shops) DFS, Sephora), etc. Recently, Arnault has acquired a number of luxury brands with a crazy “buy, buy, buy”.

The net wealth measured by the Forbes Rich List covers a wide range of assets, such as listed and unlisted company holdings, real estate, art collections, etc. But the most closely related to the rise and fall of the net worth is the value of the stocks held. “Forbes” praised “Arno as the ‘most efficient rich person of the year'” on December 20, 2019, because statistics show that in June 2019, Arno’s wealth exceeded 100 billion US dollars for the first time, becoming 100 billion US dollars A member of the Regal Club is also one of only three billionaires in the world. When he appeared on the cover of Forbes four months ago, Arnault also said: “Compared to Microsoft, (we) are still very small.” However, throughout the year of 2019, Arnold’s wealth increased by more than 40 billion US dollars It has increased the speed of wealth appreciation. The biggest contribution comes from the dazzling performance of LVMH’s stock price-in 2019, LVMH’s stock price rose by more than 60%, and its market value has increased by more than 80 billion euros.

French TV Channel 2 reported that Arnold also made extensive friends in the political circle. French first lady Brigitte was a high school French teacher for Arnold’s son. Since Macron’s election in 2017, she has also become a Louis Vuitton brand “Loyal customers”. Public appearances at home and abroad, Brigitte has the blessing of the Louis Vuitton brand. In addition, Arnault also had “old friendship” with US President Trump for nearly 40 years. In October 2019, Arnold & Partners (Louis Vuitton has always insisted on “Made in France”) opened the first overseas Louis Vuitton factory in Texas, USA. US President Trump attended the ribbon-cutting ceremony that day. Trump quipped, “I know the brand very well and it cost me a lot of money (First Lady Melania likes Louis Vuitton and Dior very much).” French Atlantic News Network said on the 19th that perhaps thanks to this special friendship between Arnold and Trump, Europe was fortunate to avoid a “evil war in Europe and the United States.”

But who would have thought, such a rich Arnold was very rude. In 2012, Hollande, then president, demanded a “great wealth tax” on the rich. In December of that year, the “Liberation News” revealed that Arnold’s nationality application to Belgium was rejected 5 months ago, and he was reportedly doing so to avoid tax. At the beginning of 2013, the “Liberation News” also leaked news that he would transfer his personal control to a Belgian company. Arnault subsequently sued the “Liberation News”.

French Frontline News reported on the 19th that the net wealth of the top three Forbes rich list is not much different, so the ranking is not stable. If LVMH Group’s stock price drops, Arnold’s top list will not be maintained. “Forbes” magazine believes that if Gates did not donate so much money to charity, if Bezos did not divorce, Arnault may have a longer way to catch up to both.