A French Billionaire Made $107 Million Per DAY For All Of 2019
Source – LVMH, the owner of luxury brands from Louis Vuitton to Dom Perignon, has gained $82 billion in market value this year, the most among European stocks. That would amount to a gain of about $39 billion for the region’s richest man, Bernard Arnault, who owns nearly half the company, according to Bloomberg data.
The Swiss market also enjoyed a strong year, represented by Nestle SA and Roche Holding AG, while technology stocks remain hot, boosting sector giants ASML Holding NV and SAP SE.
My buddy DM’d this story to me and I almost puked. $107 million PER DAY…for an entire year. So who is this guy? His name is Bernard Arnault and he owns LVMH. What is LVMH? According to their website they’re, “A family-run group” that “strives to ensure the long-term development of each of its Houses in keeping with their identity, their heritage and their expertise.” In other words, they’re a company that owns a shit ton of other companies. Here’s a list of some of their subsidiaries…
They also have over one-hundred and fifty THOUSAND employees worldwide. Which when you think about it, is an astronomical number. But back to the point of this whole thing…$107,000,000 per DAY for an entire year. That’s $4,458,333 per hour, $74,305 per minute, $1,238 per second. Imagine having so much money you have to get creative to spend it? That’s a real problem that Arnault has. Like no amount of nice meals or luxury automobiles could possibly put a dent in his wealth. He’d have to constantly be on vacation living like an actual king to get poor. The craziest part of this story is that he’s not even the richest guy on the planet. He just had a huge year. Bezos and Gates still have him beat.
My favorite part of that tweet is that he has “& Family” next to his name to make his kids feel like they do something. He has five of them, by the way. Talk about hitting the lottery. As rich as he is, he’s still $3 billion behind Bezos. Still though…$107 million per day. My God. Sorry to ruin your Monday, I just felt like I had to say something.