A time of luxury: how the owner of Louis Vuitton and Dior has become richer than Bill Gates & nbsp

Bernard Arno became the second richest man in the world, according to Forbes estimates. As of Friday, the wealth magnate of the luxury goods market, which owns brands like Louis Vuitton and Moet & Chandon, reached $ 104.1 billion, compared with $ 76 billion in March, when Forbes published the annual billionaire rating. At that time, he was the fourth richest man on the planet. His fortune first reached $ 100 billion in June. It grew thanks to the soaring stock prices of the conglomerate LVMH (since the beginning of the year they have risen in price by 50%).
Now the state of Arno is almost a billion more than that of Bill Gates. This is the first time since 2008, when the founder of Microsoft does not occupy the first or second line in the list of the richest people in the world. Microsoft shares also showed record numbers, but not like LVMH. In addition, most of the state of Gates is not associated with fluctuations in the shares of the IT giant.

Jeff Bezos is still at the top of the global list of billionaires (he has $ 124 billion minus the money that will soon go to his ex-wife Mackenzie Bezos as part of the divorce process).
It seems unlikely that Arno will ever catch up with Bezos. However, most of the assets of both businessmen are shares of their companies, and the next rise of LVMH and sinking of Amazon could quickly close the gap. In the end, Arno's fortune has already increased by $ 27 billion over the past four months.
Arnaud’s success is due to the fact that affluent buyers around the world continue to acquire luxury items. LVMH reported record sales and profits ($ 52.5 billion and $ 11.2 billion for 2018). In the first quarter, revenue increased by another 16%, to $ 14 billion. The size of the profit, which is published twice a year, will be known in late July.
But Arno does not stop there. He continues to innovate and change LVMH 35 years after he entered the luxury market by buying Christian Dior. This week, he announced the start of a collaboration with fashion designer Stella McCartney. This decision was made about 16 months after McCartney left Kering, a competitor of LVMH (managed by François-Henri Pinault, son of French billionaire Francois Pino), and became the full owner of her company. In a press release from LVMH, McCartney said that since then she had received many offers of cooperation, but only Arnaud and his son Antoine could convince her.

The goal of the partnership is not only to develop the fashion house of Stella McCartney, but also to strengthen the environmental initiatives of LVMH. McCartney, whose brand is known for its dedication to the principles of eco-friendly and ethical high fashion, will become LVMH's special advisor on environmental issues.

“I am extremely pleased to have the opportunity to work with Stella. This is the beginning of a wonderful partnership, and we are convinced of the great long-term potential of her fashion house, ”said Arno. – The key role was played by the fact that she was the first to talk about ecology and ethics. This underlines LVMH’s commitment to the environment. ”
This deal followed the high-profile news about two joint LVMH projects with famous singer Ryannoy (Fenty Beauty and Fenty Fashion House). In addition, a group of companies recently acquired the hotel operator Belmond.
Translation by Natalia Balabantseva

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1. Jeff Bezos

Status: $ 131 billion
Change for the year: + $ 19 billion
Source Status: Amazon.com
Age: 55 years old
Country: USA

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Amazon founder Jeff Bezos remains the only billionaire in the world with a twelve-digit state. In the fall of 2017, it exceeded $ 100 billion for the first time, and in 2018 several times exceeded $ 150 billion thanks to an increase in Amazon’s shares, created by Bezos in a garage in Seattle in 1994 to sell books online.
Bezos continues to develop its aerospace company Blue Origin, promising that its reusable rockets will carry passengers. In September 2018, Bezos announced the creation of a $ 2 billion Bezos Day One fund to help homeless people in the United States and to create Montessori style preschool institutions.
In 2013, Bezos acquired The Washington Post for $ 250 million, which actively criticizes US President Donald Trump. The head of the White House, for its part, accuses Amazon of tax evasion and the destruction of traditional retailers.

In January 2019, Bezos divorced his wife Mackenzie, with whom he had been married for 25 years. After that, the founder of Amazon accused American tabloid National Enquirer, which sympathizes with Trump, of blackmailing him for threatening him with intimate photos of him and TV presenter Loren Sanchez, with whom the businessman has a romantic relationship.
2. Bill Gates
Status: $ 96.5 billion
Change for the year: + $ 6.5 billion
Source Status: Microsoft
Age: 63 years

Country: USA
The founder of Microsoft for the year increased his fortune by $ 6.5 billion, but nevertheless, he again lost the first line in the Forbes rating to Jeff Bezos.
In 1975, Gates, together with Paul Allen, created Microsoft Corporation, which has become the world's largest software maker. To date, Gates has sold most of the shares of the company and continues to own only 1%. The money received from the sale of Microsoft shares allows him to be the largest philanthropist in the world.
In 2016, Gates, together with a team of 20 investors, including Amazon founder Jeff Bezos, created a $ 1 billion Breakthrough Energy investment fund. Earlier, with his wife Melinda, he founded the Bill and Melinda Gates Foundation, whose main goal is to improve the health care system and overcoming hunger in poor countries. In 2018, the foundation created the Bill and Melinda Gates Institute for Medical Research (MRI) in Boston with a budget of $ 100 million. Its goal is to develop new drugs and vaccines against malaria, tuberculosis and diarrhea, which together take 2.6 million lives worldwide .
3. Warren Buffett

Status: $ 82.5 billion
Change for the year: – $ 1.5 billion

Status Source: Berkshire Hathaway
Age: 88 years old
Country: USA
Oracle of Omaha retained the third place in the list of the richest people in the world in 2018, despite the fact that his fortune declined by $ 1.5 billion. In the last three months of 2018, Berkshire’s investment portfolio fell by $ 27 billion due to a sharp drop in American of the securities market in October, the quotations of which, moreover, then all of December fell even lower.
Berkshire Hathaway Holding owns shares in more than 60 companies, including Apple, Coca Cola, Geico, American Express, Fruit of the Loom and others. In the second half of 2018, Buffett took advantage of the fall in shares of American banks and became the largest shareholder in four of the five largest American banks, including JPMorgan Chase & Co, Bank of America, PNC Financial Services and U. S. Bancorp. At the same time, he reduced his investment in Apple.
In March 2018, Buffett named his probable successors at the head of Berkshire. He admitted that Greg Abel, CEO of Berkshire Hathaway, and Ajit Jane, head of insurance, may be worthy of this place. “Now Berkshire is managed much better than when I was watching everything alone. Ajit and Greg have a rare talent, and Berkshire’s blood is flowing in them. Changes were required for a long time, ”he wrote in a letter to shareholders.
Buffett has already invested $ 35 billion in the Bill and Melinda Gates fund. And promises to give to charity 99% of their condition.
4. Bernard Arno

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Status: $ 76 billion
Change for the year: + $ 4 billion
Source Status: LVHM
Age: 70 years old
Country: France
The LVMH holding includes 70 world-famous luxury brands, including Moët Hennessy and Louis Vuitton, Sephora and Tag Heuer. Bernard Arno, Chairman of the Board and CEO of LVMH, owns more than 5% of LVMH shares.
In the mid-1980s, Arnaud, together with his partner, bought a textile company in distress Boussac, whose main asset was the fashion house Christian Dior. In the mid-1990s, Arno saw a rising star in a young fashion designer, John Galliano, and with his help transformed Christian Dior. In 2017, Arno brought his share in Christian Dior to 100% by buying out a 25.9% stake in the fashion house for € 12 billion. This deal and the accompanying growth in LVMH quotes allowed Arno to get rich by $ 30.5 billion. In 2018, Arno’s condition increased by $ 4 billion

Arnaud is the patron saint of the arts; he invested $ 135 million in the Louis Vuitton Foundation Museum, which opened in the fall of 2014 in Paris.
5. Carlos Slim Elu
Status: $ 64 billion
Change for the year: – $ 3.1 billion
Source of state: telecom
Age: 79 years
Country: Mexico
Carlos Slim El has been the richest man in Mexico for many years now because he controls America Movil, the largest telecoms operator in Latin America, with his family. In 1990, he and his foreign partners acquired the package in Telmex, the only telephone company in Mexico, which later became part of America Movil. He also owns shares in construction and real estate companies, in the mining sector and in consumer goods. He also owns 17% of The New York Times.

The growth of America Movil shares in 2017 by 39% led to an increase in Sliema’s state by $ 12.6 billion. But in 2018, America Movil lost 15% of its value due to plans by the Mexican government to make the country's communications market more competitive. Slim's fortune has decreased by $ 3.1 billion, yet he has risen from seventh to fifth place in the global ranking of billionaires.
Slim-in-law Fernando Romero was the creator of the Museum "Soumaia" in Mexico City, which houses a collection of works of art owned by the billionaire. Among them are the paintings of the French impressionists Camille Pissarro, Claude Monet, Edgar Degas and Pierre-Auguste Renoir, as well as one of the largest collections of Rodin sculptures in the world.
6. Amancio Ortega
Status: $ 62.7 billion
Change for the year: – $ 7.3 billion
Status Source: Zara

Age: 82 years
Country: Spain
In 1975, Amancio Ortega and his wife Rosalia founded the company Inditex, which was engaged in the tailoring of underwear and bath robes. Today, Inditex owns eight clothing brands, including Zara, Massimo Dutti and Pull & Bear, and 7,500 stores around the world. Ortega owns 60% of the company, which annually receives dividends of $ 400 million. Ortega traditionally invests these funds in real estate in New York, Madrid, Barcelona, ​​London, Chicago, Miami.
In 2017, the value of Zara shares fell, and Ortega's condition fell by $ 1.3 billion. In 2018, the company's growth slowed down, and in September Inditex shares collapsed to the worst indicator in the last three years. As a result, Ortega was impoverished by another $ 7.3 billion.
7. Larry Ellison

Status: $ 62.5 billion

Change for the year: + $ 4 billion
Source Status: Oracle

Age: 74 years
Country: USA
Larry Ellison created the Oracle software development company in 1977. In 2014, he resigned as CEO of the company, retaining the position of chairman of the board of directors and director of technology development. In 2015, he announced that the company will focus on the development of cloud technologies, and in 2016 for this purpose Netsuite acquired the company for $ 9.3 billion.
In March 2018, Allison launched a start-up for the development of hydroponic agriculture Sensei on the Hawaiian island of Lanai. This island fell in love with Allison in his youth. And in 2012, he bought it (the purchase cost the billionaire $ 300-500 million). On it, Allison is trying to create an ideal model of the future.
8. Mark Zuckerberg

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Status: $ 62.3 billion
Change for the year: – $ 8.7 billion
Source Status: Facebook
Age: 34 years
Country: USA
2018 was a difficult year for Mark Zuckerberg – the social network was under fire from the inability to resist the influx of fake news and hatred. In April 2018, Zuckerberg testified at a US congressional hearing on a data breach of 50 million users through an application developed by consulting company Cambridge Analytica.
In July, Facebook did not meet investor expectations for revenue growth. And in November, The New York Times published an investigation into how Zuckerberg and social network top managers paid for negative publications in the media about George Soros, who criticized the social network. As a result, Zuckerberg’s fortune declined by $ 8.7 billion over the year, and it dropped from fifth to eighth place in the Forbes ranking.

Zuckerberg founded Facebook in 2004 at the age of 19. In 2012, the company became public. Zuckerberg owns about 17% of its shares. In December 2015, Zuckerberg and his wife Priscilla Chan promised during their lifetime to sell 99% of their social network shares and donate money to charity.
9. Michael Bloomberg

Status: $ 55.5 billion
Change for the year: + $ 5.5 billion
Source Status: Bloomberg LP
Age: 77 years old
Country: USA
Michael Bloomberg created the Bloomberg LP media company, which provides financial information to corporate subscribers, in 1981. Prior to that, he worked for 15 years at Salomon Brothers investment bank, from where he was fired with an exit allowance of $ 10 million. Bloomberg spent $ 4 million of this money on launching Innovative Market Systems, which analyzes financial markets. Soon he renamed the company Bloomberg LP, the investment bank Merrill Lynch became its first client and investor.
Today, the business brings up to $ 9 billion annually. Bloomberg owns 88% of the shares.

From 2002 to 2014, Bloomberg was the mayor of New York, after which he again headed his company. Currently intends to run for president of the United States.
Bloomberg is actively involved in charity. He allocated $ 5 billion for personal weapons control measures and other purposes. In November 2018, the billionaire announced that he would donate his alma mater – John Hopkins University in Baltimore – $ 1.8 billion to support middle and low income students.
10. Larry Page

Status: $ 50.8 billion
Change for the year: + $ 2 billion
Source Status: Google

Age: 45 years old
Country: USA
Page founded Google in 1998 with Stanford University student Sergey Brin. They were developing a system in Susan Wojicky’s garage, which is now heading Youtube. Their first server was assembled from Lego pieces. Over time, Google has become the leading search engine on the planet. The company, which was renamed Alphabet in 2015 as part of a corporate restructuring, now brings in more than $ 100 billion a year, with more than 60,000 employees in 50 countries.
Until 2001, Page was the CEO of the company, after which he decided to dismiss some of the project managers from Google, so that between him and the programmers there was no “extra layer”. As a result, Google investors have achieved his removal from the post of CEO. In 2011, Page again took over as CEO of Google. But in 2015, he decided to head Alphabet company (parent for Google, created to separate the search engine business from other activities). “We need to do breakthrough things, not trivialities,” Paige is convinced.

Chief editor of the blogErika J. Wells .

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