Who is Bernard Arnault ?? And How he become Second Richest person?

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Heyy Guys !! As per latest news we all know that Bill Gates is no longer the second richest person. Bernard Arnault take over Bill Gates and First in last seven years Bill Gates slip to the third place. but today we will talking about Bernard Arnault. So let's go.

Bernard Arnault

First Question about Who is he??

Bernard Arnault is french businessman, Investor and Art collector. Arnault is the Chairmen and Chief Executive of LVMH. LVMH (Louis Vuitton Moët Hennessy)   is the world's largest luxury-goods company. and Bernard Arnault is the richest person of Europe. In 2018 Bernard Arnault becomes the richest person in fashion Industry after defeating ZARA.

LVMH luxury-goods

Second Question How he become so Rich??

Bernard Arnault Join his father's company in 1971 after completing his graduation which is Civil base company In 1976 he convinced his father to convert that company into the real-estate. In 1977 he become CEO of that company and in 1979 he succeeded his father as president of that company called Férinel.

After that in July 1988, Arnault provided $1.5 billion to form a holding company with Guinness that held 24% of LVMH's shares. In response to rumors that the Louis Vuitton group was buying LVMH's stock to form a "blocking minority", Arnault spent $600 million to buy 13.5% more of LVMH, making him LVMH's largest shareholder. In January 1989, he spent another $500 million to gain control of a total of 43.5% of LVMH's shares and 35% of its voting rights, thus reaching the "blocking minority" that he needed to stop the dismantlement of the LVMH group. On 13 January 1989, he was unanimously elected chairman of the executive management board. 

In 1998 to 2001 Bernard Arnault invest in lots of web company, which include Boo.com, libertysurf and Zebank. In 1999 he Invest lots of money in Netflix.



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