According to Oxfam data, there are more than 2150 billionaires in the world. The total wealth of these people is equal to the total wealth of 4.6 billion people who make up 60% of the world’s population. While the ratio of billionaires to the world’s population creates income inequality, the sectors that enable them to become billionaires are constantly changing.

The Forbes World’s Richest People list, dominated by American technology bosses like Bill Gates, Larry Page, Mark Zuckerberg and Elon Musk, features a remarkable name in the 2010s: Louis Vuitton, the elite clothing brand of millionaires, born and raised in France Owner Bernard Arnault. So how did Bernard Arnault manage to be on this list, which is monopolized by the US and tech bosses?

Arnault is actually one of the names we can call the “old ground” in the business world:

Born March 5, 1949, the son of Jean Leon Arnault, who ran a local construction company in France, Bernard led a hard-working student life. He graduated from a local high school with a diploma and in 1971 he graduated from Ecole Polythenique, one of the most prestigious public universities in France. as an engineer He graduated. Soon after, he started working in his father’s company.

He did not see a bright future for the construction industry, his family was expelled from France to the US where he continued his real estate business, everything changed when he returned to France:

Today, the construction industry, which is seen as one of the most profitable sectors in Turkey, predates Bernard in the 1970s. “sustainable” opportunities not provided. Yes, his family may have been living in this business for years, but it was not profitable enough and was not open to new visions. Everything changed once he took over as president of the company in 1979.

The socialist party that seized power in France forced the family to leave for the US. Bernard Arnault continued his real estate business in the US. Returning to France in 1983, he became the owner of the most established textile company in the country. Boussac saw it sink and wanted to exploit this gap, he convinced an investment company to buy Boussac.

Arnold’s path, who now owns the Christian Dior and Bon Marche brands, intersects with the company called ‘LVMH’, of which he will later become one of the largest holding companies in the world:

The brands Christian Dior and Bon Marche were originally owned by Boussac, acquired by Arnold, but were only known in France. As soon as Arnold bought the company, he sold almost all of his stock. back alone Christian Dior And Le Bon Marche brands remained. Then the real story began.

Arnold, who made Boussac profitable for many years, was invited to invest in another French company, LVMH, because of this success. Arnold, a joint stock with Guinness, one of today’s best-known alcohol brands, In 1989, he succeeded in owning 43.5% of the shares of LVMH.. This made him an influential figure in the company.

He fired an average of six employees at LVMH and replaced them with better ones. He continued to acquire new companies:

Louis Vuitton, which has prestigious brands in almost every luxury clothing and accessory category, especially in textiles, continued to grow under Bernard Arnault’s management. Over the years Gevency, Dior, Celine, Bvlgari, Fendi LVMH, which brought brands like LVMH to the world, quickly gained appreciation in the 1990s and 2000s.

In the 2010s, these brands were never short of millionaires and celebrities in front of the camera. LVMH brands have appeared on the red carpet of the Academy Awards and on the covers of the world’s leading magazines. Millions of people dream of owning products from these brands, Bernard Arnault and LVMH has nearly 160 thousand employees.continued to market this dream in a masterful way.

Year 2021: Bernard Arnault, 72, topped the list of wealthy people his age:

With the exception of Microsoft founder Bill Gates and investor Warren Buffet, former landlord Bernard Arnault now tops the list of the world’s richest people, almost all under the age of 50, taken over by US tech bosses. With its wonderful brands, LVMH’s market value reached 321 billion euros, and when LVMH’s shares skyrocketed, his and his family’s share rose $187 billion reaches.

Bernard Arnault, a regular at the top for the past few years, with only $1 billion difference between him and Amazon founder Jeff Bezos, has now seen the top for a short while, breaking the monopoly of capital tech companies with his brands being the biggest part of the world cannot reach and that the few rich people who achieve buy reputation.