The Acquired Podcast devotes a lengthy episode to the story of how Bernard Arnault, the world’s wealthiest man, became the world’s wealthiest man. The summary is as follows:
We tell the full history of LVMH, and how Bernard Arnault turned a $15m investment in a bankrupt French textile company into the world’s largest individual fortune. It’s a story that’s equal parts Berkshire Hathaway, Steve Jobs and Barbarians at the Gate… and wholly under-appreciated for the genius business model innovations that enabled it. Whatever industry you operate or invest in, there’s so much to be learned from Bernard and LVMH’s complete reshaping of the luxury sector over the past three and a half decades. And oh yeah, it also involves Nazi spies, Italian family murders, Rupert Murdoch, Rihanna becoming a billionaire, Jay-Z’s champagne feuds and Beyoncé wearing a 128 carat diamond. Tune in. 🙂
To hear the full podcast on Apple Podcasts, click this link.
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.