In Paris, they say that all roads lead to Arno, the Financial Times reports in a recent article. And they are probably right as Mr. Bernard Arno, this demonic businessman who occupies the international media extensively for his achievements, "climbed" even higher and became the man who joined the club of the richest in the world, by his side Bill Gates and Jeff Bezos. Common feature of all three? Each of them has a fortune of at least $ 100 billion!
Arno even managed to make the specific "jump" a few days ago as the share of the company that manufactures famous luxury items rose 2,93% to 368,80 euros. His fortune rose nearly $ 32 billion this year, the biggest increase in the Bloomberg Billionaires Index. It now stands at $ 100,4 billion, or more than 3% of French GDP.
According to the news agency, the French multi-billionaires recorded in 2019 the largest increase in wealth among Europeans, with Arno, François Pino of Kering and cosmetics heiress François Betancourt Meyers, collecting more than 40 billion dollars. In addition, brothers Gerard and Allen Wertheimer, who are behind the Chanel brand, saw their fortune increase by $ 9,8 billion when the house announced the results for 2018.
Even amid growing trade tensions, Chinese consumers' appetite for Louis Vuitton bags and Hennessy brandy boosted results for LVMH, also the owner of Tag Heuer watches and Dom Perignon champagne. The company's shares rose 43% this year, the third best performance in France's CAC 40 index.
It is worth remembering that the 70-year-old businessman and his family are among the wealthy tycoons who pledged to give millions of dollars for the reconstruction of the Notre Dame de Paris that was destroyed by fire. It also controls almost half of LVHM through a family-owned holding company and also owns 97% of Christian Dior, the famous fashion house founded in 1946.
According to Forbes, 35 years after Arno first entered the luxury goods sector with the purchase of the house Christian Dior continues to renew LVMH by finding ways to attract the new generation of consumers while maintaining the traditional values and high quality that have defined its brands. This includes innovative collaborations such as the one with the famous singer Rihanna, for the Fenty Beauty and Fenty Fashion House projects, but also recent deals such as the acquisition of Belmond, which manages luxury hotels, trains and even safaris. "People do not understand that success comes from the coexistence of two contradictory spirits: the artist's vision and the logic of global marketing," he told Forbes in 1997. "It is a very complex process."
"The sales, the acquisitions are really exciting. I am especially fascinated by the moment you are getting ready to make a deal, which you do not know if it will work out for you or not. And then there are those cases where an agreement acquires its own life and entity and evolves much more than you yourself imagine. When I bought it Louis Vuitton even close associates told me but it is already such a big house. "How much more can you develop it?" And yet, I love to marry tradition, the classic, that is, the modern. I do this with the contribution of the new generation, with a fresh perspective ".
However, age does not seem to have affected his mood to win, say the Financial Times and emphasize that the 70-year-old man has a need to acquire beautiful brands and turn their creativity into profits. "I always liked to be first. I did not do it on the piano, I did not do it on tennis. I believe that success will come to the point where my teams, my group will be number one in the world "he emphasizes and adds without irony" We are still young. We are just starting out and it is a lot of fun. We are first, but we can go further ".
He lives with his wife in an expensive area Paris and his house "houses" paintings by leading painters, such as Picasso and Warhol. The French businessman has found a place in his companies for all members of his family. Four of his five children as well as relatives of the extended family work in positions of power in his stores around the world, according to the New York Times. He likes to protect his personal life from prying eyes and as some say he likes to travel to the Aegean, which he crosses with the wonderful yacht of AMADEUS.