Why Is The Richest Person In France Bernard Arnott?

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The Xiaobian of shoe and hat net is to introduce the chairman of the LVMH who reelected the richest man in France, but his dark family history, you know?

Bernard Arnott (Bernard Arnault) is once again the richest man in France - the LVMH president and chief executive has won the French richest list with 34 billion 660 million euros (238 billion 346 million yuan).

Followed by the successor of L'OREAL group Liliane Bettencourt (30 billion 900 million euros, about 212 billion 490 million yuan) and Hermes heir Bertrand Puech (24 billion 100 million euros, or 165 billion 728 million yuan).

Several of the French business richest list released this year by the French economic monthly magazine

The luxury family has slipped: the head of Chanel Alain Wertheimer and G rard Wertheimer have dropped from fifth to seventh (16 billion 500 million euros, or 113 billion 466 million yuan), and the president and chief executive officer of Fran (Kering) has dropped from seventh to eighth (12 billion 700 million euro, or 87 billion 334 million yuan).

Since 2010, when Arnott succeeded in catching up with G rard Mulliez, the boss of Auchan, France, the title of "the richest man" seemed to be something in his pocket and never changed.

In 2014, the stock price of LVMH rose by 34%. On this basis, Arnott could be calculated as a major shareholder of the group with an average of 1 million euros (6 million 876 thousand and 700 yuan) per hour.

From selling house to doing luxury business

At the age of 66, he was born in Lubei, an industrial city in northern France, and his father runs a family construction company.

After graduating from the French Polytechnic School of Paris Polytechnic, Arnott entered the construction industry.

In 1981, when Francois Mitterrand came to power as the first French social party president, business conservatives were nervous. Arnott fled home with his family and went to Florida to build a holiday home.

Only a few years later, when the socialist party loosened their economy, Arnott felt that the time to return home was ripe.

Through all kinds of contacts, he bought the next company named "ackie vogue real estate investment" in 1984, and the most valuable one is Christian Dior, known as the "fashion General Motors" in France.

It was also from that moment that Arnott had a dream: to build a luxury group on the basis of advanced women's clothing.

Although his techniques were not fair and even despicable, in the intrigues of business, he succeeded in excavating designer from other companies to set up a new brand, Christian Lacroix; bought C line and threw out the founder of the brand.

Everyone who is driven away will mention his cruelty.

If these are just small tricks, Arnott's 1988 "LVMH grab power incident" let everyone see his wrist.

At that time, Ray Kamil, vice chairman of LVMH, came into the room and invited Arnott to join the group to add weight to the war of power between himself and the chairman.

Unexpectedly, Arnott met with his rivals and plotted a deal that allowed Arnott to become a major shareholder of the group.

"Luxury!" wrote: "ray Camille led Louis Weedon's career to take off, but Bernard Arnott who led Louis Weedon and the entire LVMH group to a higher level".

His motive is simple: only luxury can make you earn money extravagantly.

Every time he comes to a new brand, Arnott can find the opportunity to make money. His new mode of luxury development is "emphasizing the timeless nature of the brand, making the design lively and crazy advertising".

So we are influenced by media reports, advertisements and sponsorship events, and passively understand Louis Weedon's centenary history, suitcase story, and the word "canvas".

In the 90s of last century, Arnott spent billions of dollars to classify the Fendi, Kenzo, wrist watch brand Zenith, jewellery brand Chaumet and duty-free shop DFS in LVMH's territory.

Although he invested a lot, but because he was good at catching the opportunity of the economy falling into the trough, and making full use of the family conflicts intensified by Target Corp, most of Arnott's acquisitions were completed at relatively low cost.

And he is taking over and pforming luxury.

It appears tough, fierce and even brutal.

In 1989, Dior's designer Mark Boan (Marc Bohan) learned that he had been fired when the reporter called to verify the information, and his design business in Dior for 29 years ended abruptly.

In an interview, he said, "suddenly, I was chill out, like I used to be just an incompetent servant."

But for this reason, Arnott himself explained: "in the eyes of Europeans, I am an American style.

I want to face the real reality, not the real reality.

Besides luxury, he has a lot of business.

In addition to LVMH's luxury aircraft carrier, Arnott's financial investment is huge and suffocating.

In 2008, after Carrefour's founding family Harley group retired from the board of supervisors, Arnott became the largest shareholder of Carrefour Group.

L Capital Asia, a private equity fund that he invested, insisted on her usual style of buying, buying, buying, and sometimes extravagant and fashionable horses. For example, last year, L Capital Asia invested $80 million (about 497 million yuan) to invest in South Korea's YG entertainment company. At the beginning of this year, it announced the acquisition of a minority stake in the Dubai food retailer Bateel. Not long ago, the private equity company also spent $100 million (about 621 million yuan) to acquire more than 90% of the Chinese restaurant chain's Jade Restaurant (Crystal Jade).

However, these financial investments are nothing more than Arnott's other hobby.

The LVMH leader ranks among the world's most active contemporary art favorites, a frequent visitor to art auctions.

In 1999, the group bought the world's third largest auction companies, the British Phillips (Phillips) auction house at a high price of 70 million, after which the largest French auction house L'Etude (L'Etude Tajan) was put in the pocket.

Francois Pino Foundation

Louis Weedon Arts Foundation

Ransova Pino (Fran OIS Pinault), a major shareholder of Kai Yun group, pformed the eighteenth Century Venice Palace Palazzo Grassi into the Museum of contemporary art. Arnott also built a similar glass cloud building in Paris, and named it Louis Louis foundation, which used to display its own art collections and hold regular exhibitions of art.

However, many people in the industry believe that Arnott tried to change the cold and hard image of the public on his personal and group ambition through the Louis Weedon foundation.

It is interesting to note that those who are selected for this year's rich list may not have to settle in France, but they must hold French nationality.

The wealth included in statistics is not only property owned by individuals, but also works of art, cars, ships and aircraft.

With the implementation of the French "huge tax", many rich people are looking abroad. Although Arnaud is not officially naturalized in Belgium, many of its companies have put their accounts in Belgium since 1999.

The tax rate for the rich is better than that of France, especially for capital gains tax.

Why do you know why LVMH's Bernard Arnott is so rich?