15 Things You Didn't Know About Bernard Arnault

this is billionaire Mondays every Monday we present you with another billionaire today we're looking at 15 things you didn't know about Bernard Arnault welcome to a lox calm the place where future billionaires come to get inspired hello ale Xers and welcome back to our Channel another Monday another successful billionaire story to share with you today we're talking about the richest man in the fashion and beauty industry Bernard Arnault if you don't know who he is by now we can tell you he's a magnate art collector investor and chairman of the luxury group LVMH that sells exclusively luxury brands like louis vuitton Bulgari Dior or moet Bernard jean at TNR know is a French business magnate born and raised in France to be an engineer he studied at the Ecole Polytechnique in Panna so from which he graduated with an engineering degree in 1971 after graduation he joined his father's company and convinced him to liquidate the construction division and changed the focus to real estate in 1984 Bernard Arnault acquired the financière 'gosh a luxury goods company and he later became its CEO from that moment on everything career-wise when spiralling to the roof and the rest is history nowadays he's stinking rich famous and inspiring if you're new here welcome be sure to subscribe and follow us on instagram at a luxe but let's dive in and uncover how it all got started and the secrets that followed him with these 15 things you didn't know about Bernard Arnault number one he's an avid art collector when you have the amount of money that mr. Arnaud has you start looking into more expensive things to buy like vintage cars estates jewelry or art objects the more you buy them the more you fall in love with them and it all becomes a passion Bernard Arno's passion is to collect art in the form of paintings his now extensive collection includes work by Picasso yves klein henri mooré and andy warhol just to name a few he used to own an auction house in France and bought his first Taj on in 2006 following his passion he started the Louis Vuitton Foundation a project dedicated to the creation of contemporary art I guess you can say he has a great sense of fashion and art as well number two Kat Von D and fenty Beauty are both owned by LVMH the LVMH group has the most exquisite and expensive luxury on the market in their portfolio divided into five categories Wine & Spirits fashion and leather goods perfumes and cosmetics watches and jewellery selective retailing and others all big names you find at Sephora which is under LVMH as well are bought by the group celebrities like Rihanna or tattoo artist Kat Von D have launched beauty product lines recently with massive international success if you wonder why try looking on the LVMH website yep you'll find them there with massive marketing budgets and thousands of Sephora stores all over the world it's no wonder these products sell out they might even have the same formulas as other beauty brands owned by the group but we don't know that for sure number three the group also owns three newspapers and one magazine in the other activities category of LVMH three newspapers are listed les echo investor and la Parisien and one magazine Collison's desert of course they are used to promote the other brands from the group and also to write about fashion and business the newspapers have some serious tradition behind them as well going back to 1908 and have modern approaches to them like online websites and articles that can be accessed by tablet or smartphone as well it's amazing how one person can own so many branches of this industry Bernard Arnault is an inspirational man to say the least number for his life examples were Warren Buffett and Steve Jobs the success of LVMH is built on creativity quality entrepreneurship and most importantly along vision these are the stepping-stones of the empire bernard arnault has built throughout his entire life he is one of the richest people in the world but unlike everyone else he started from a different background and looked up to the big names he admits that he admires Warren Buffett the business mogul and Steve Jobs a genius mind that revolutionized telecommunications they both started their businesses from nothing and took them to the ultimate level number 5 he's the richest man in the fashion industry with a net worth of 84 point 1 billion dollars as of this year Bernard Arnault is the richest man in the fashion industry his net worth is now a staggering 84 point 1 billion dollars and is constantly growing since the luxury market is booming every year Bloomberg billionaires index ranks him as the fourth richest person in the world surprisingly in third place we find Warren Buffett his inspiration in the business world at the age of 69 he managed to create this huge corporation with wanted brands and crazy expensive items the LVMH group is growing every day with more brands launching new lines and collaborations he's really one of the richest humans in the world and can easily be among the top three if business goes well number six he denied the building of new factories in Eastern European countries there's always something dirty hiding in the dark when it comes to big industries you just have to dig deep enough to find it luxury items have outrageous price tags only some people can afford from handbags shoes and fur coats you can end up spending thousands of dollars on the latest fashion trends it's no wonder why they call themselves investment purchases unfortunately a lot of these luxury items don't cost that much to make in fact fashion giant Louis Vuitton that everyone knows as crazy expensive has a factory in Romania where they make some of their shoes for a fraction of the price taking advantage of the cheap work force a French team of journalists discovered this back in 2014 and revealed management does a lot of work to ensure these factories don't show up on Google Maps this is problematic since Louis we saw claims embody ancestral savoir faire and work with an italian workforce when asked about this issue bernard arnault LVMH chief executive rejected the claim number seven he applied for a Belgian citizenship to skip taxes when you start making more and more money you also start noticing how much of it goes onto taxes and other expenses and not in your pocket it might seem selfish or unreal but it's your money you worked so hard for and the government takes half of it just like that well there might be a way to dodge that percentage and a lot of people do it it's called moving your taxes to a tax haven country in Europe there are a few places to do this like Luxembourg Malta or Belgium if you live there for a few months or apply for citizenship you can put your money in their banks and pay taxes there that sometimes drop to 3% they're not Arno applied for Belgian citizenship and people believe it was for tax reasons even though he rejected those rumours and gave up the process stating that he likes friends and his honor to pay taxes there which really just sounds like a PR statement number 8 he's friends with both the former french President Nicolas Sarkozy and with the current one as well Bernard Arnault has lived studied and worked in France almost all of his life of course he travels and does business all over the world but he always goes back to his homeland living there it's no wonder he only spends his time with socialites and rich people among them is one of the most important by far former President Nicolas Sarkozy with whom Bernard Arnault has had a long lasting friendship her--not even attended his wedding to cecilia Siegen a Albanese the precedent has changed by now but guess what the French magnate is friends with Emmanuel macron as well might it be because he's the richest man in the country in Europe and fourth in the world you would want to have that kind of friend if you were the president who wouldn't you number nine he invested 143 million dollars in a modern art museum besides being into fashion and luxury goods Bernard Arnault enjoys art and is also a collector which is why it came naturally to him to invest in a foundation supporting young artists on October 27 2014 the Louis Vuitton foundation building was inaugurated as a one hundred forty two million dollar Museum and cultural center and the LVMH group founded the LVMH young fashion designer International Students competition Bernard Arnault came up with the idea of a foundation to support young artists back in 2001 after meeting Frank Gehry while visiting the Guggenheim Museum in Bilbao number 10 he owns a thirty five million dollar island in the Bahamas every rich person on this earth buys million-dollar mansions expensive one-of-a-kind cars diamonds but some of them go the extra mile and buy islands just like that some celebrities like Beyonce were even gifted Islands crazy we know but Bernard Arnault with his billions in the bank decided to buy an island in the Bahamas the island is private and can only be accessed by him or by others through an invitation besides the island he also owns a private yacht where bono and Britain's Prime Minister Tony Blair were invited and some mind-blowing estates around France not too shabby oh and in case you're looking to buy an island of your very own you better watch our 15 luxury islands you can buy right now video by clicking in the top right corner of the screen number eleven LVMH hired Kanye West as chief of their menswear this one might come as a bit of a shocker but it's true one of LVMH group's most famous brands Louie Witzel hired rapper Kanye West as a consultant for their menswear Louie Vuitton is LVMH his top-selling brand with annual sales of more than nine billion euro the largest in the luxury industry for the menswear collection the brand has worked so far with Kim Jones who moved to Dior's menswear to work his magic there below the official LV designer at the moment has worked with Kanye West multiple times before his brand easy so we're curious to see how he's going to adapt in a luxury monogrammed life of Louisville resolve men's fashion week is in June beware for some Kanye touch on the new LV designs number twelve the first brand he bought was Christian Dior we all start from somewhere in the end life is a journey not a destination right and for some of us that journey is paved with millions of dollars and fame in Bernardo noes case the road was paved with the luxury brands he acquired one of the first luxury brands he bought was Christian Dior in 1984 he was helped by Antoine Bernheim a senior partner at Lazard Flair he then acquired financier 'gosh a luxury goods company where he took the CEO position the company included Christian Dior the department store at Le Bon marché the retail shop confer AMA and the diapers manufacturer produce bernad sold nearly all of the company's assets keeping only the prestigious Christian Dior brand and Lebon Marsh department store number 13 Bernard Arnault was awarded the title of commander of the French Legion of Honour the UK offers the title of sir to citizens that successfully represent their region and have great achievement but unfortunately this only applies to UK citizens even though Bernard Arnault owns different nationality brands and does business all over the world including the UK he cannot get the title of sir from Britain but hold your tears for a second his work and efforts have been awarded the French government title of commander of the French Legion of Honour in 2007 he was also named Knight commander of the most excellent Order of the British Empire in 2013 those are some fancy titles he's got going on now we wonder which one is his favorite CEO Knight or Commander tough call number 14 he tried to buy Hermes but failed in order to gain supremacy over the luxury fashion market Bernard Arnault still needs the Hermes franchise to be in his portfolio he tried to do this 18 years ago when LVMH acquired 4.9 percent of shares of Hermes through subsidiaries in 2010 LVMH announced it had acquired 14.2% of Hermes which people started to raise questions about the motives and future plans then in 2011 LVMH announced it had raised its stake in Hermes to 22.6% and after that Hermes filed a criminal complaint against LVMH in a Paris Court accusing them of insider trading collusion and manipulating stock prices it all ended with LVMH giving up its shares and Hermes and leaving all the drama behind since the owners kept clinging to their brand so closely number 15 Bernard is a trained classical pianist growing up in France you have all the chances of becoming some sort of artist the culture the mindset the environment they're just perfect for anyone who has artistic passions even though Bernard graduated from my Technical University he still has a strong artistic side we already know he's into fashion he collects art but what else is he good at well you'd be surprised to find out that he's actually a trained pianist and is married to the french-canadian concert artist Allan Mercier we just can't help but imagine him sitting at his piano in his private mansion on San Tropez or a private dinner with presidents he's a real artist no wonder he's done such a great job with LVMH and that's it ale Xers this is the life of billionaire Bernard Arnault the fourth richest person in the world and owner of the LVMH group let us know in the comments section which luxury item is on your wish list from the brand's owned by our know we're curious to see what your style is like in the meantime as a thanks for sticking around all the way to the end we're going to leave you as always with one more bonus fact number 16 85% of Japanese women owned Louis vuitton branded products have you ever been to Japan it's amazing some people say it's expensive and then it's a great shopping destination apparently it's such a great shopping destination that even its own citizens love to shop there as we mentioned before Louis Vuitton is the biggest and best selling brand from the LVMH group they're also thriving in sales in Japan where 85% of the women there have a Louis Vuitton bag that is crazy rumor has that since the exclusive monogram is so often seen in Japan become a common bag to have and that's the reason they changed the design of the bag and the monogram next time you're in Japan pay attention to the handbags you see unless it's cherry blossom season then pay attention to that instead thank you for spending some time with us a Luxor make sure to subscribe so you never miss a video if you want more we hand-picked these videos you might enjoy or head over to a Lux calm for the best in fine living content on the planet be a part of the largest community of luxury enthusiasts in the world and tell your story

Channel: Alux.com

Views: 175,079

Keywords: Alux, Alux.com, Alux Youtube, luxury living, luxury lifestyle, alux watches, fine living, new life, most expensive, extravagant things, billionaire lifestyle, bernard arnault, bernard arnault net worth, bernard arnault interview, bernard arnault lvmh, bernard arnault biography, bernard arnault lifestyle, bernard arnault documentaire, bernard arnault piano, bernard arnault facts, LVMH, louis vuitton valuation, Louis Vuitton Moët Hennessy, christian dior

Id: AiLZoW6Jtgw

Length: 16min 6sec (966 seconds)

Published: Mon Apr 30 2018