Bernard Arnault became the richest person through his successful acquisitions and leadership in the luxury industry. He started by buying the struggling Boussac group, which included the fashion house Dior, and turned it around to profitability by laying off workers and restructuring the business . He then expanded his empire by acquiring other luxury brands and establishing LVMH (Moët Hennessy Louis Vuitton) as the largest luxury conglomerate in the world . Arnault's strategic vision and ability to generate value contributed to his immense wealth .
LVMH (Moët Hennessy Louis Vuitton) owns a wide range of luxury brands. Some of the brands under LVMH include Dior, Louis Vuitton, Moët & Chandon, Hennessy, Givenchy, Fendi, Bulgari, Celine, Marc Jacobs, Sephora, and many more . These brands cover various industries such as fashion, accessories, perfumes, watches, jewelry, wine, and spirits . LVMH has a total of 75 houses under its umbrella . It has also expanded into distribution with retail stores like Sephora and duty-free shops, as well as ventured into travel with Chaval Blanc Resorts and other travel companies .