Many people had never heard of French billionaire Bernard Arnault until he overtook Elon Musk as the world's richest person.
He has patiently built up his luxury goods empire LMVH and tries to avoid the limelight.When Elon Musk was bumped off his crown as the world's richest person after the fall of Tesla's shares last year, the new king of wealth was someone many had never heard of.
"We can continue to progress — but let's be patient," he told France's Radio Classique last year. "No rush." He had just left the elite Ecole Polytechnique and convinced his father to transform the construction business into real estate development instead. "My father was surprised when I went to see him saying: 'We're going to redirect the family group and try to invest in something more promising, Christian Dior'," the businessman recalled recently on Radio Classique.Should rich people’s inheritance money be shared with society?
"He's a tough negotiator but unmatched, a visionary who knows how to surround himself with good people and who in the end always gets his way one way or another," Arnaud Cadart, portfolio manager at financial services firm Flornoy, told AFP.He lost Italian fashion and leather goods house Gucci to his French rival Francois Pinault, head of the PPR group, in 1999.
In 2011, he was received at the White House by former President Barack Obama; Russian President Vladimir Putin welcomed him to Moscow five years later; former French president Francois Hollande cut the ribbon on his Louis Vuitton Foundation, while former US President Donald Trump did the same for a Vuitton workshop in Texas.
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