Why I Hate Bernard Arnault
ฝัง
- เผยแพร่เมื่อ 13 มิ.ย. 2024
- In this exclusive expose, we'll explore:
🚀 How Bernard Arnault climbed to a staggering net worth of $200 billion and became the second richest man in the world.
👜 The colossal LVMH conglomerate that owns Louis Vuitton, Fendi, Celine, Bvlgari, Hennessy, and over 70 other brands.
💼 Arnault's shrewd and, at times, ruthless strategies that earned him the nickname “Wolf in Cashmere”.
💸 How this master of financial engineering acquired almost HALF the shares of a HALF TRILLION DOLLAR company.
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0:00 - 1:04 Intro
1:05 - 7:48 Usurping control
7:49 - 12:57 LVMH playbook
12:58 - 15:35 Labor practices
15:36 Control of the media
#Wallstreetmillennial #louisvuitton #lvmh #dior #luxury
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In world filled with scam artists / tech bros fabricating billion dollar "tech disruptors" out of thin air and bullshit, a straightforward Bond villain billionaire magnate who GoT-ed his way to the top is almost refreshing.
EXACTLY! At least he's not ripping off the healthcare industry, the LV brand has been around for 150+ years.
@@dirtydanglerHe also exploits the cheap labor of the global south so insecure dipshits can continue buying stuff that continues to fail in providing meaning to their lives.
@@dirtydangler lmfao... They make bags and objects that are pointless. At least healthcare provides things of value
@@ashishpatel350 Yes, they became a multi centi-billion dollar company just by selling "pointless" things.
Yes they did, because people got a low IQ and need to flex their $2k tshirt even though they're poor
You dont become a billionaire by being a nice person.
Rather, one should say that being nice doesn’t get you far, let alone billionaire-level rich.
Yeah both these are correct a great comparison for this is Andrew Carnegie he went around claiming fairness for his workers and infrastructure rewards. But he was a shrewd businessman and did the complete opposite abusing his workers to get the most productivity for his steel mills.
How do u know u a billionaire
source?
These are the excuses he is getting ready to use when he rich😂😂
Correction: The Arnaud family business was not in real estate but an industrial steel company which Bernard Arnault ran for a couple of years before he realized that the future was not bright and he then invested in a real estate company.
seen
So he picked up a bunch of bad habits in the US and acted like a American in France. Understood.
🤣🤣🤣👍
🤭
*An American
😂😂😂😂
Gang gang
He might not start companies, but he sure knows how to run them
You meant to say 'ruin'
@@DipayanPyne94 Profitable company is profitable, that in the world of business is a well running machine. Even if the customer may disagree, you cant disagree with their profit statements
@@DontUseHack You don't know much about financial engineering or accounting, do you...?
Globalization of financial markets, modern communication network and computing allows a company of that size to cook their books by exploiting the tax codes and corporate laws of different jurisdictions.
If you just accept their profit statements or their share prices as a true and accurate reflection their performance, you are just as dumb as the people who buy luxury goods thinking that the price is a true and accurate reflection of its overall value.
That guy just has to stay one step ahead of the authorities by making the financial structure increasingly complex through a constant corporate restructuring via mergers and acquisitions.
Believe me, most people in the financial world aren't impressed at all at what this guy does, but they are rather shocked at just how stupid the government authorities are for allowing this joker to openly break antitrust laws.
@@DipayanPyne94 profit is that matters......
@@DipayanPyne94who ruin fashion is the customers …
You missed the one key metric to LVMH's success: Human vanity
He basically applied American business practices that gutted the nation of industry (factories, manufacturing and fabrication+assembly).
If he didnt all those companies would be dead like Dior was
Yes, outsourcing 101. The ruthless and deceptive practices he engages with on top of this gutting of French industry are what is so offensive.
The lesson on how to be a successful, self-made business icon: Start by borrowing $15 million from your family fortune.
Yeah tell that to all the people who’ve own hundreds of million in the lottery and lost it all
Still extremely impressive. But yes, obviously not self-made. Just remember that today 1% of Americans adults have a fortune roughly equal to 12M$ which is 1.5M adults have the starting point of Bernard . Yet only one person can make it to #1.
@@juniorbitare3041 $15 million in 1971, when Arnault acquired the money, is the equivalent of $115 million today (adjusted for inflation). How many American adults have $115 million to start their careers?
Hundreds of people did similar things. Borrowed from wealthy parents and failed. He still did good, he just had luck to have a backing
Selling things which no one needs for adventurous margins... That seems to be mantra of French economy at large.
people need status symbols unfortunately....unfortunately most people are insecure
do you have more examples ?
Insecure American will buy it instead of school shooting 😂
Ah yes his small family loan of 15MIL
😹
That too in 1980s
@@Regular.BicepsYes, 15 million in 1980 is 55,3 million in 2023 money
its about the same as lending 15 euros and turning it into 200.000 euros. Not bad. Als he is like Gordon Gecko. And anyone buying this crap is a fool.
emmmmmm Relatively small right 🤣
I actually adore Bernard Arnault. He is just using the fashion industry as a giant cash cow as he knows there are a growing number of stupid people in the world who would be willing to pay 100x premium price for a handbag.
Realistically speaking is 5-20x premium. Like LV is around 15x the material and labor cost
people are not paying 100x premium on a handbag...people are buying "status"...LV sells perceived status. Unfortunately most people are insecure and want to buy "status"
His mother was a hamster & his father stinks of elderberries
People who buy these brands are usually people who have stepped up the wealth ladder to become middle class or slightly above middle class. They perceive these brands as luxurious. Something only rich people would buy. That's why LVMH can sell these prodcuts as mass goods with a high premium. Rarely do these people find out that luxury means exclusivity. Something LVMH products are definitely not.
LVMH is riding the social media wave of “influencers” pushing this crap on people that can’t afford it.
The difference between fraud/scam and “shady but legal business practices” is who your clientele is and how good your legal team is.
I worked where a few well known billionaires lived...some are cool as a cucumber but others are addicted to money and control. Both yearned for more time and youth. One of them actually told me that he's cursed because he can't relax all he wants to do is not think about business and focus on his family.
You think they’re nice until you sit down with them and a contract.
@daviddrivespremium392 true...I didnt see them in the natural habitat, you make a valid point.
If they wanted, they could just walk away....but scripture is right, the LOVE of money is the root of all evil.
@@forward_ever_ever2595just walk away? Are you serious, how about you try and walk away from everything and start afresh. Tell me how easy that turna out.
It's easy to say a lot of things when you don't have much to lose. There people have bank accounts the size of small countries
@@forward_ever_ever2595 easy to say but tougher in practice
Buying luxury bags is stupid
So stupid that I am willing to use it to shut my wife off.
Why? I'm sure the people along the way to that retail store appreciate the business, gas used to get there, food/services used while out and about. Poor ppl b so miserable
@@dirtydanglerit’s ridiculous, this guy is becoming a billionaire for selling cheap materials for a very high price… seems like he’s scamming brainwashed consumers
It's called luxury for a reason, yes even if some designer goods are objectively overpriced.
Why ? Because you cannot afford ?
Standard business practices, nothing unusual. They all do this, but this guy kinda took it to the next level.
he was just better at being an ass than the rest of them
Basically. I respect it.
@@BenjaminBanks615 Oh really ? Respect criminals ? Jeez. No wonder the world is messed up. It's because of such a mentality.
@@DipayanPyne94 no respect needed, get it or eat shit. Life is not fair, never Will be.
@@DipayanPyne94Don’t respect it, but it isn’t detestable either.
What I find funny about all these luxury brands is they are so easily counterfeited! If you truly were using luxurious good quality material it wouldn’t be so easy to counterfeit! 😅
You can only be so innovative with fashion products. At the end of the day, they’re just purses, shoes and clothes, not computers, missiles or aircraft.
@@sarikagoode1505 right…you don’t see people counterfeiting iPhones if you did you could tell right away.
@@gjd424 you can tell with tools.
Gold, fiat currency, etc are all counterfeited. Even bitcoin (bitcoin cash) hahaha Where there is money to be made you will always find a counterfeit market. Counterfeiting is a old as time.
@@gjd424
They have been counterfeiting iphones for decades. 😂
I was born in Romania, but my sole is from Italy.
And what is the point ?
@@sebwarren9892 soul, did you watch the video?
Hahahaha - that got me LOLLING. You, my friemd, are a funster
I didn’t know ANY of this! Thank you!
Also-also godda admire your dedication to mispronouncing literally every non-anglo word in every video. Many gems in this vid but Saint Frères is a masterpiece 🤭
"Lay echoes" was my favourite mispronunciation. So simple yet so elegant
True dat.
Shev-a-leer!
Tag-hewer!
Alternate video: "He's French", cut video over.
😂
🤣🤣
Yup this Admin acting like all another billionaires is good . this video is full of hate 🤣
@@Shambles7698 Not quite sure what you mean. I didn’t watch the video. Came here long enough to leave this joke so I can find it easier in a couple days.
its actually a valid reason
This is real life succession 😂
For real haha I would mind watching this as a TV show
Time to make it a TV show. We have one on our richest guy who died in 2008. He pulled a handgun on someone in a deal who he thought was screwing him. Had a few different handguns that apparently didn't exist later when questioned
I don't think he's in the game to win the "most likeable person in the world".. he's good at what he does..
If you know how high taxation is supposed to be for the common french citizen you know he is a big snake for managing to get that rich. But that's not only him of course, every well known rich name around here got there by skirting the rules and having politician friends in the right places. We have near zero actual big entrepreneurs or innovators or people worrying about creating actual value.
Don't hate the player, hate the game. Also, these products aren't food, water, or housing thus I don't see the concern with him getting one over on people who buy these luxury items. I find the fandom over luxury goods to be quite vain, but that's subjective.
Well said
Missed the bit about his undo influence on the French government and media, huh?
It is quite subjective. I could make similar arguments about the video game fandom, sports fans, movie aficionados, etc. The difference is misogyny.
It’s one thing the play the game but it’s another to exploit people and lie. You can admire his business savvy but exploiting people is low in third world countries. Transparency is key, I have no objection of him rinsing people who buy his goods but don’t exploit your workers by operating as a villain with no moral or ethical concerns.
Hard truth : simping for billionaires won't turn you into one
Excellent video thanks for taking the time to put this together
His practice is actually a monopoly. Fashion changes rapidly and there is much more inspiration to expose to the market if there is no LVMH and such conglomerates and their marketing scheme.
The old man seems less enthusiastic about culture and philantrophy.
But it is hard to beat for he does have some cash cows like champagne, handbags, and cosmetics. Sadly all these excessive profits go for feeding the consumerism of rich people but not going to make any social contribution.
What a great video. Thank you for making it. It was well researched and put together.
i'm french and completly unaware of this, for most part. thank you for that documentary
That famous LV bag is so cringe, I'd not even think of being it.
This is why we have so few choices in the stores anymore. It has become a drab world.
Oh please! What are you talking about? There’s unlimited access to more products today than at any time in history.
@@EasyTiger.01343 How old are you and what country are you in?
There's even chinese sweatshops in Italy nowadays, so "made in Italy" really doesn't count shit anymore
Seriously? Which companies?
LMVH! A lot of Chinese factories move to Italy with their low paid chinese workers, to get the Made In Italy label.
These people are just money and power hoarders.
Spending their money to relax and enjoy the rest of their life is unthinkable because that's not what motivates them.
It really gives you context of what it means to be that rich and the forces behind it.
O TRUST THEY ARE NOT RELAXING. The ones that do relaxes get bought out. Thats the game.
Or they're relaxing by making money.
If these kind of people were born in years ago, they would be some war generals that put their names in history
I'm surprised that he doesn't at least try to acquire Luxorexottica
Bonjour monsieur,
I am French. That’s some great investigation work on our country, I really appreciate the effort of raising the topic in front of an English speaking audience.
So merci beaucoup to you, and have a nice day
Now that China is on the down-side, LVMH will see losses the other areas cannot fill. I can see some sell-offs. They still have huge debt, and their capital is on the way down.
Well researched. Learned a lot here 👌👍
"Love of money is the root of evil" Said a very wise man, 2,000 years ago.
Was a poor dude tho.
Fairy tales
Money to rich people is often just a scorecard.
You make such fascinating videos. The research you do to create these videos is great. Better than almost any other finance-related youtube channel
I've googled Arnault before and was also puzzled at some of the information listed. Like the fact he wasn't tied familially with Louis Vutton. As well as that he basically owed 97%+ of Dior. Thanks for shining a light on this.
You somewhat overstated the importance of the newspapers.
While Les Echos is the 4th biggest newspaper in France, the other ones are pretty niche
It’s not that the worst necessarily rise to the top, but positions of great power and money are much more likely to be populated by narcissists and psychopaths, or at least people with strong traits of those
True
Every billionaires are ruthless individuals you can’t be nice and filthy wealthy at the same time
Where did you get that 300$ wage from? The minimum wage in Romania is about 650$ ( ~420 after taxes) per month.
I don’t know if you realize this, but a lot of clothing companies pay their workers below minimum wage.
Arnault is one of the main beneficiaries of the EU central banks loose money policy after the 2008 market crash. The liquidity infused into the market, that was supposed to stabilize the financial markets, helped him grow LVMH. The citizens had to deal with higher inflation and lower interest on their savings.
I like the way your organise and research everything
Social media plays critical role in
He sounds like a classic corporate snake to me.
Very good work,sir!
It wasn’t a real estate company that his dad and maternal grandfather before him had-it was a construction company.
Well, OP pronounced Moet correctly. Which is nice to hear.
Moët
Thanks for making this vid!
I learned a lot! Thank you.
Loved the details and insights, far better than brokers reports. I've subscription from all Global brokers but didn't have any insight. Can you also please make a video on Estee Lauder given the current context of Travel retail in Asia. Thanks
Great job as always!
Envy makes people hate others
Luxury goods is a very interesting sector in a sense that without high price it wouldn't be luxury. And contrary to normal economy, price increase makes their stuff more appealing to the target audience.
France' s version of Montgomery burns
how is it possible that nobody saw the value in dior and bid up the price of the conglomerate to more that 60 million?
Luxury brands are trash. How do you know someone is broke, they're wearing expensive branded clothes 😂
Your French pronunciation of names hurts my ears but I enjoyed the video :)
This game is like a game of chess...and Bernard is undoubtedly a chess champion.
Loveeee the video :)
12:03 Oh, I know a demographic that would be more than willing to pay $300 for a strap 😉
13%
😅
Wow this guy is a ruthless genius.
Trump has absolutely NOTHING on him! 😂😂😂
Very good, thank you.
I come to this channel for many things. Good, or even acceptable French pronunciation is certainly not one of them.
Humans are funny creatures, enchanted by material possessions, often overlook the pursuit of inner beauty-a realm where true fulfillment and wisdom reside. All these luxury fashion industries are cashing on insecurities and shallowness of modern individuals.
Truer words have never been spoken 👍
He’s a wolf, he hasn’t innovated, designed, created he has simply stolen
He’s just like elon musk
What did he steal exactly?
@@pierrex3226 he has stolen companies from others against their will via takeovers
It’s the bedrock of modern economics. Specialisation. The art of extracting maximum value.
Whaddyagonnado? 🤷🏼♀️
now it totally makes sense why the quality of LV and other brands owned by Arnault is so crappy!!! b/c they are made in india and romania
What a genius master plan to establish a literally true empire!
If arnault was born in some centuries ago, he would be definitely a famous general
Seems like good, solid business to me.
Cost cutting aside, what does that mean for the quality of their clothes?
It sounds like he is turning the brands into a more fancy H&M.
He is a demented French man ….what are we suppose to do when Mr Robux’s is the villain wearing cashmere ?
Any Vuitton family still owns shares?
I saw the prices of a Celine shirt, i was like hell no.
People treat you differently/better when you buy luxury
@@ProbatePrepWorkehh, depends how you wear it, also depends where you are. Some places you don’t want to look flashy.
Did he buy the newspapers to shit on the movie and that is it or did I miss the point?
Having control over newspapers creates influence. Arnault can make writers write biased articles that support his interests. Not having the movie mentioned is one example.
Influence over politicians
This is impressive I love bernault’s tactics and I love your videos as-well
Any product which can be affordable to the general public, even if they prioritize its purchase, is not a true luxury product. A true luxury product is one which is out of reach for the vast majority of the population, even if they prioritize its purchase. It is exclusively for the truly wealthy.
Positional goods
This basically the railroad consolidation but this time in Fashion Industry
So Louis Vuitton isn't even Louis Vuitton anymore lol
One thing my grandma thought me is that every business owners are liers and they need to.
Well, he makes Elon look saintly, there's that ...
Another billionaire parasite imagine my shock.
Billionaire parasite or commie parasite...which one you want
Skill issue
How has his success hurt you? He is not a parasite, he makes his money providing goods to people who want them
I would argue 2ND in Germany and car insurance industry are parasites. Nobody is forced to buy expensive bags, and nobody in my inner family ever did. I guess my brother did buy an expensive perfume...
I think this makes him a legend in the corporate world, a true hardcore capitalist.
Good story. Thanks. toronto canada.
Brilliant businessman!
he is a total AO for basic business, everything he touches on basic business fails. but a perfect mathematician. He made his nest on calculus with weak / near collapse businesses. And stabbing his 1st real partner...
Great video
Lesson, there is lots of talented people, who can make marvelous things in this world. Let the stuck up people pay to show off.
He's practically American...🤣
The higher the iq the lower number of LV bags.
👍
@@FMJP only if you're one of the mugs at bottom wearing them.
Great video man!
As i always say. Money doesnt talk it screams
12:05- "Only a company with significant market share can charge $300 for a strap." WallStreet Millennials 2023
Ayo pause?!
"La Persian" 😂
Amazing Vidio
Am I the only one bugged by the image of a German castle while describing the wealth of a French family?
Too bad some management teams couldn’t perform properly 😂
Tim Allens doppelganger lol
Basically an ordinary business man in Paris