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☆ Luxury tycoon Bernard Arnault dismissed comparisons between his family and the Roys in 'Succession' — and said he hopes there's no 'duel' to take over power
▼ + stars: | 2023-09-15 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The NYT reports that Bernard Arnault's family dislikes being compared to the Roys from "Succession." Bernard Arnault's five children have a 90-minute lunch with him every week to discuss the business. When the NYT questioned him directly on this, Arnault "brushed off any comparison to television's Roys with a wave of his hand." "The best person inside the family or outside the family should be one day my successor," he told The Times. Jean Arnault told the newspaper: "Make no mistake, we discuss things, but at the end, it's he who decides."

Persons: Bernard Arnault's, Bernard Arnault, LVMH, Delphine Arnault, Louis Vuitton, Jean Arnault, Louis Vuitton's, Logan Roy, Arnault, it's Organizations: Service, The New York Times, Times, Dior, Financial Times Locations: Wall, Silicon, France, Cashmere

The falling shares mean that Mr. Arnault (now worth about $195 billion, Forbes says) dropped to the second-richest person in the world in June, eclipsed by Elon Musk. Mr. Arnault has broadened LVMH beyond extravagant playthings into the world of experiences, acquiring over 50 grand hotels and resorts. Mr. Arnault’s changes mean he doesn’t have to retire next year as originally expected. The French media is full of headlines comparing the Arnaults to the Roys, the fictional family in the HBO series. There are TikTok videos explaining why the Arnaults are “the real ‘Succession’ family.” The family hates this talk, and takes pains to play down parallels to the show.

Persons: Arnault, Forbes, Elon Musk, LVMH, —, gobbling, Delphine, Dior Organizations: Denmark’s Novo Nordisk, HBO

Putting a price on celebrityIn buying a majority stake in the powerhouse Hollywood talent agency Creative Artists Agency, François-Henri Pinault showed that high-ticket M.&A. is a game that more than one French luxury billionaire can play. Acquiring CAA — which represents stars including Tom Hanks, Margot Robbie and Pinault’s wife, Salma Hayek Pinault — underscores Pinault’s ambitions, and reinforces the growing importance of celebrity in the luxury sector. Like his archrival, Bernard Arnault of LVMH, Pinault used a series of acquisitions to assemble the luxury empire now known as Kering, starting with Gucci and later adding Saint Laurent, Bottega Veneta, Alexander McQueen and more. The agency will be run separately from Kering; Bryan Lourd, the superagent who represents Scarlett Johansson and Brad Pitt, will become C.E.O.

Persons: Henri Pinault, Tom Hanks, Margot Robbie, Pinault’s, Salma Hayek Pinault, Bernard Arnault, Pinault, Saint, Bottega, Alexander McQueen, —, Bryan Lourd, Scarlett Johansson, Brad Pitt Organizations: Hollywood, Creative Artists Agency, CAA, Gucci, Puma Locations: Bottega Veneta, Kering

☆ Novo Nordisk, the maker of Wegovy and Ozempic is now Europe's most valuable company
▼ + stars: | 2023-09-05 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Novo Nordisk has dethroned Bernard Arnault’s luxury goods giant LVMH as Europe’s most valuable company. At the close of trading Monday, Novo Nordisk (NVO) had a market capitalization of 2.96 trillion Danish krone ($428 billion). “We are just scratching the surface,” Novo Nordisk CEO Lars Fruergaard Jørgensen told CNN’s Meg Tirrell in a recent interview. Novo Nordisk has raked in almost 49 billion Danish krone ($7 billion) in profit over the first six months of this year, up 30% from the same period in 2022. Booming sales of its drugs have led to an influx of US dollars into Denmark’s economy, pushing up the value of the Danish krone.

Persons: Bernard, Wegovy, Louis Vuitton, Hennessy, —, “, Steve Barclay, Carsten Snejbjerg, Lars Fruergaard Jørgensen, CNN’s Meg Tirrell, …, ” Organizations: London CNN — Novo Nordisk, Novo Nordisk, Louis, Health Service, Health, Social Care, Nordisk, Nordisk's, Bloomberg, Getty, World Health Organization, Danish krone, European Central Bank, Novo, UBS, Wegovy Locations: Danish, Ozempic, Wegovy, United States, Copenhagen, Denmark, Denmark’s, Novo Nordisk’s

☆ Business is booming for the maker of weight-loss drugs Wegovy and Ozempic — so much so that it is threatening luxury giant LVMH's crown as Europe's most valuable firm
▼ + stars: | 2023-09-05 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Novo Nordisk has been trading places with LVMH for the title of Europe's most valuable company. The Danish pharmaceutical giant makes the buzzy weight-loss drugs Wegovy and Ozempic. AdvertisementAdvertisementNovo Nordisk, the maker of weight-loss drug Wegovy and diabetes drug Ozempic, has been trading places with French luxury-goods conglomerate LVMH for the title of now Europe's most valuable firm. The UK's NHS recently said that it plans to begin giving out some limited supplies of Wegovy for weight management. Arnault and his family own around 48% of the company's total shares.

Persons: Wegovy, Louis Vuitton, Ozempic, Elon Musk, Bernard Arnault, Arnault Organizations: Novo Nordisk, Morning, Nordisk, Dior, Tiffany, FDA, NHS Locations: LVMH, Danish, GLP, North America

☆ LVMH’s smooth ride faces twin speed bumps
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

Shares in the 413 billion euro luxury behemoth fell 4% on Wednesday after it failed to wow investors with its earnings, depressing Europe’s stock market. Yet investors balked at the 1% second quarter sales contraction in the United States - which represents about a quarter of total revenue - as inflation worries cooled shoppers’ appetite for expensive items. LVMH’s conglomerate model, which spans over 70 brands, has so far proven resilient to crises. The all-important Mainland China market, which made up a fifth of global personal luxury sales in 2021, is a potential worry. Slow demand both in the U.S. and China would test LVMH’s diversified model.

Persons: Dior, Tiffany, Givenchy, Bernard Arnault’s, Lisa Jucca, Aimee Donnellan, Pranav Kiran Organizations: MILAN, Reuters, Twitter, Thales, Thomson Locations: United States, China, U.S

☆ Steve Ballmer's $120 billion fortune makes him richer than Warren Buffett, Mark Zuckerberg, and Google's cofounders. The former Microsoft CEO can thank AI hype and a contract quirk.
▼ + stars: | 2023-07-25 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Steve Ballmer is richer than Warren Buffett, Mark Zuckerberg, Larry Page, and Sergey Brin. The former Microsoft CEO is worth $120 billion, thanks to his estimated 4% stake in the company. Page and Brin have added $28 billion and $26 billion to their respective fortunes in 2023, lifting their net worths to $111 billion and $106 billion. Ballmer's fortune has ballooned this year thanks to Microsoft stock climbing to historic highs. The former Microsoft chief trails Larry Ellison ($133 billion) and Bill Gates ($137 billion) by some distance in Bloomberg's wealth index.

Persons: Steve Ballmer, Warren Buffett, Mark Zuckerberg, Larry Page, Sergey Brin, Ballmer isn't, Sergey Brin —, didn't, Bill Gates, Jeff Bezos, Larry Ellison, Zuckerberg, Brin, Elon Musk, Bernard Arnault, Buffett, Ballmer's, Ballmer, Page, Brin haven't, he's Organizations: Microsoft, Service, Google, Bloomberg, Forbes, LA Clippers, Berkshire Hathaway, Gates Foundation, Meta Locations: Wall, Silicon, Berkshire

☆ LVMH strikes Paris Olympic Games sponsorship deal
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +2 min

PARIS, July 24 (Reuters) - Luxury giant LVMH (LVMH.PA) unveiled on Monday a deal to sponsor next year's Olympic Games in Paris with top fashion brands Louis Vuitton and Dior, Moet Hennessy champagne and spirits labels and jeweller Chaumet, which will design medals for the event. The group will also sponsor athletes, including French swimmer Leon Marchand, and its beauty retailer Sephora will sponsor the Olympic torch relay, LVMH said. Terms of the deal, which was negotiated by Antoine Arnault, one of the five children and heirs of LVMH Chairman and CEO Bernard Arnault, were not revealed. "The Games are an opportunity to make France shine," Antoine Arnault said as he made the official announcement. The run-up to an Olympic Games can become mired in global geo-politics and controversies over domestic matters can attract scrutiny, such as China's rights record ahead of the Beijing Games.

Persons: Louis Vuitton, Dior, Moet Hennessy, Chaumet, Leon Marchand, LVMH, Antoine Arnault, Bernard Arnault, Mimosa Spencer, Silvia Aloisi, Tomasz Janowski, Richard Lough Organizations: Louis, Olympic, Beijing Games, HK, Toyota, Thomson Locations: Paris, France, Belarus

☆ Private jets can be tracked. Here are all the sneaky ways billionaires can still fly unseen.
▼ + stars: | 2023-07-24 | by ( Taylor Rains | ) www.businessinsider.com time to read: +5 min

Sweeney also publicly tracked the personal jets of celebrities like Donald Trump, Taylor Swift, and Mark Zuckerberg. Its easier to hide on a chartered business planeLVMH CEO Bernard Arnault on board his private jet between Beijing and Shanghai. The FAA can make tracking more difficult, but it's not foolproofPuma/Jay Z's jet tracked on ADS-B Exchange with LADD indicator. Basically, this allows private aircraft owners to request the Federal Aviation Administration redact their tail number from public tracking. This means companies that use federal data to track commercial and general aviation flights, like FlightAware and FlightRadar24, will not display LADD-identified planes.

Persons: Jack Sweeney ruffled, Elon Musk, Taylor Swift, Tim Cook, Jack Sweeney, Sweeney, Donald Trump, Mark Zuckerberg, Bernard Arnault, Marc DEVILLE, LVMH Moët Hennessy Louis Vuitton, Arnault, Puma, Jay Z's, Travis Scott, Jay, Steven Spielberg, Oprah, LADD Organizations: Tesla, Gulfstream, Twitter, Getty, Bombardier, Apple, FAA, LADD, Federal Aviation Administration, PIA, Facebook Locations: Idaho, Beijing, Shanghai, China

☆ From 'Barbie' to Formula 1, TAG Heuer is making its mark on the luxury watch market
▼ + stars: | 2023-07-12 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

It plans to more than double its boutiques in the U.S. to 50 by 2026, according to TAG Heuer CEO Frédéric Arnault. Frédéric Arnault, CEO of TAG Heuer. Arnault said TAG Heuer is making strides due in part to marketing wins and new products, such as the new TAG Heuer Monaco Chronograph with a skeleton dial worn by Verstappen, which clocks in at more than $10,000. Gosling has been sporting a 36mm TAG Heuer Carrera with a bright pink dial as part of his promotion of the new "Barbie" movie. Arnault said "Barbie" fans can expect to see other TAG Heuer watches in the film as well.

Persons: Frédéric, Bernard Arnault, Arnault, Max Verstappen, Sergio Perez, Frédéric Arnault, LVMH, Fred, Louis Vuitton, Bulgari, Philippe Nautilus, Ryan Gosling, Gosling, Barbie, Ryan Organizations: LVMH, TAG, TAG Heuer, CNBC, Oracle Red Bull Racing, Monaco, CNBC TAG, Zenith, Carrera Locations: U.S

☆ Soccer superstar Cristiano Ronaldo pumps money into luxury watch resale marketplace Chrono24
▼ + stars: | 2023-07-12 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Cristiano Ronaldo has become an investor in Chrono24, the global luxury watch resale marketplace. International soccer superstar Cristiano Ronaldo has become an investor in Chrono24, CEO Tim Stracke told Insider in an exclusive interview. Luxury watch resale prices have declined for more than a year. The investment comes at a rocky time for the luxury watch resale market, which has seen more than a year of price declines following the tightening of interest rates and the implosion of crypto. Stracke says he and Ronaldo both believe in the long-term prospects of the watch resale market.

Persons: Cristiano Ronaldo, Ronaldo, Tim Stracke, Forbes, Stracke, Chrono24, Bernard Arnault, Al Nassr, – Stracke, Jacob &, Franck Muller Cintree Curvex, Georgina Rodríguez Organizations: Aglae Ventures, Service, International, Manchester United, Portuguese national team, Nike, Rolex, Excel, Rodríguez's Rolex Locations: Chrono24, Wall, Silicon, Saudi, Dubai

☆ Private jets are descending on a small-town airport as the 'summer camp for billionaires' kicks off
▼ + stars: | 2023-07-11 | by ( Grace Kay | Taylor Rains | ) www.businessinsider.com time to read: +4 min

Private jets are already arriving in Sun Valley, Idaho ahead of the "summer camp for billionaires." Private jets have already begun piling up outside of small town Sun Valley, Idaho as some of the world's most powerful people head to Allen & Co's annual conference — also known as "summer camp for billionaires." Since Tuesday morning, over 40 private jets have flown through the nearby Friedman Memorial Airport ahead of the conference, with at least another 100 scheduled to arrive throughout the day, according to FlightAware. In 2021, the airport was so swamped with private jets that the FAA had to delay incoming flights until traffic dropped. Amazon founder Jeff Bezos and OpenAI CEO Sam Altman are expected to attend the event, according to Bloomberg.

Persons: Bill Gates, Jeff Bezos, Mark Zuckerberg, —, Drew Angerer, Tim Cook —, Louis Vuitton, Bernard Arnault, Chris Pomeroy, he's, Pomeroy, Sam Altman, Bob Iger Organizations: Private, Allen, Friedman, Federal Aviation Administration, FAA, Nike, The New York Times, Staff, Getty, Embraer, Cessna, Bombardier Global, Apple, Sun, Friedman Memorial Airport, New York Times, The Washington Post, ABC, Amazon, Bloomberg, Disney, Variety Locations: Sun Valley , Idaho, Valley , Idaho, Friedman, Sun Valley

☆ Layoffs at Dow Jones have Wall Street Journal staffers on edge as the newsroom expects more cuts and changes under top editor Emma Tucker
▼ + stars: | 2023-07-10 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Dow Jones laid off 10 people on the business side in late June. Wall Street Journal insiders are prepping for a content overhaul and potential cuts later this summer. A steady drip of layoffs continues at Dow Jones, which laid off another 10 people in the last week of June. The roles were mostly finance, sales, and marketing people who work across Dow Jones properties, which include The Wall Street Journal, Barron's, and MarketWatch. The Journal newsroom has largely been spared, but EIC Emma Tucker is conducting a sweeping content review.

Persons: Dow Jones, Almar Latour, Emma Tucker, Tucker, Rupert Murdoch's, she's, Liz Harris, Taneth Evans —, Charles Forelle, Karen Pensiero, Neal Lipschutz, Jason Anders, Thorold Barker, Kristina O'Neill, Sarah Ball, She's, Bernard Arnault, There's Organizations: Wall Street Journal, Dow, Street, MarketWatch, News Corp, Sunday Times, . Magazine Locations: Dow Jones, London, Europe, Middle East, Africa

☆ The top 500 richest people in the world made an average of $14 million each day in the first half of 2023 as markets rallied
▼ + stars: | 2023-07-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The 500 richest people added $852 billion to their collective fortunes in the first half of this year, per Bloomberg. The billionaires' wealth was boosted on the back of a broad market rally. Now worth $237 billion, Musk is the world's richest person — ahead of Frenchman Bernard Arnault, the CEO, and co-founder of LVMH Moët Hennessy Louis Vuitton. Musk and Arnault have been swapping positions as the world's richest person since late 2022. Indian tycoon Gautam Adani's fortune tanked by $60.2 billion this year, making him the biggest loser in the Bloomberg Billionaires Index.

Persons: Tesla, Elon Musk, —, Mark Zuckerberg, Musk, Twitter —, Frenchman Bernard Arnault, LVMH Moët Hennessy Louis Vuitton, Zuckerberg, Gautam Adani's, Adani Organizations: Bloomberg, SpaceX, Service, Tech, Twitter, Hindenburg Research, Nasdaq

☆ More layoffs have hit Dow Jones, and The Wall Street Journal's newsroom sees changes ahead, including cuts, under top editor Emma Tucker
▼ + stars: | 2023-06-30 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Dow Jones laid off 10 people on the business side last week, the latest in ongoing reductions. Wall Street Journal insiders are prepping for a content overhaul and potential cuts later this summer. A steady drip of layoffs continues at Dow Jones, which laid off another 10 people in the last week of June. The roles were mostly finance, sales, and marketing people who work across Dow Jones properties, which include The Wall Street Journal, Barron's, and MarketWatch. The Journal newsroom has largely been spared, but EIC Emma Tucker is conducting a sweeping content review.

Persons: Dow Jones, Almar Latour, Emma Tucker, Tucker, Rupert Murdoch's, she's, Liz Harris, Taneth Evans —, Charles Forelle, Karen Pensiero, Neal Lipschutz, Jason Anders, Thorold Barker, She's, Bernard Arnault, There's Organizations: Wall Street Journal, Dow, Street, MarketWatch, News Corp, Sunday Times Locations: Dow Jones, London, Europe, Middle East, Africa

☆ Smoke pours out of Tiffany & Co. flagship 5th Ave. New York store two months after reopening
▼ + stars: | 2023-06-29 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

New York CNN —A fire near Tiffany & Co.’s newly renovated flagship store in New York City sent smoke pouring out of the building on Thursday. Firefighters responded to a transformer fire that began in an electrical vault next to the jewelry store’s 5th Avenue location in Manhattan. Videos on social media showed dark plumes of smoke coming out of the historic building and spilling into the street. The fire comes just over two months after Tiffany officially reopened the doors of its 10-floor limestone flagship shop. The 5th Avenue flagship accounted for 10% of the brand’s global sales before it closed for renovations.

Persons: Firefighters, Tiffany, Bernard Arnault’s LVMH, Arnault, ” Tiffany’s, Jean, Michel Basquiat, Julian Schnabel, –, Zenebou Sylla Organizations: New, New York CNN, Tiffany, The New York Fire Department, FDNY, Wall Street Locations: New York, New York City, Manhattan, The

☆ LVMH owner Bernard Arnault reportedly visits China after luxury spending rebound
▼ + stars: | 2023-06-28 | by ( Laura He | ) edition.cnn.com time to read: +4 min

LVMH reported its first-quarter sales surged 17% from a year ago, beating analyst expectations, driven by a rebound in China’s luxury market from the downturn it experienced during the pandemic. Luxury goods spending bounced back more quickly than any other sector in the first quarter. Although the economic momentum has lost steam in the past couple of months, growth in luxury goods sales has accelerated. China was one of the world’s largest luxury goods markets before Covid hit. Bain & Co. estimated earlier this year that Chinese consumer spending accounted for around 17% of the global luxury market in 2022.

Persons: Hong Kong CNN — Bernard Arnault, Elon Musk, Morgan, Jamie Dimon, Musk, Caijing, Christian Dior, LVMH didn’t, LVMH, ”, Jean, Jacques Guiony, “, Li Qiang, ” Li Organizations: Hong Kong CNN, LVMH, WF, CNN, Consumers, Bain & Co Locations: Hong Kong, China, Beijing, ” Beijing

The executive, who was expected to make a visit this month, walked through the WF Central mall in Beijing, China on Tuesday, photos circulating on social media showed. The photos showed Arnault with his daughter, Dior CEO Delphine Arnault, and son Jean Arnault, who works for Louis Vuitton, as well as Dior's China president Monika Figlewicz. Other Beijing residents, posting on social media site Xiaohongshu, reported seeing Arnault at luxury department store SKP. LVMH, which owns labels ranging from Hennessy cognac to fashion houses Dior and Louis Vuitton, declined to comment. "The Chinese are very important clients," Louis Vuitton CEO Pietro Beccari told Reuters in an interview last week.

Persons: Bernard Arnault, LVMH Moet Hennessy Louis Vuitton, Gonzalo, Read, Dior, Delphine Arnault, Jean Arnault, Louis Vuitton, Monika Figlewicz, Hennessy, Pietro Beccari, Pharrell Williams, Casey Hall, Brenda Goh, Mimosa Spencer, Conor Humphries Organizations: Viva Technology, Porte de, REUTERS, WF, Reuters, Tiffany, Thomson Locations: Porte, Paris, France, SHANGHAI, PARIS, China, Beijing, China . China

☆ At Paris Fashion Week, It Was Louis Vuitton vs. the World
▼ + stars: | 2023-06-27 | by ( Jacob Gallagher | ) www.wsj.com time to read: 1 min

Bernard Arnault, head of luxury-goods conglomerate LVMH, has a net worth larger than that of Elon Musk and Jeff Bezos. WSJ’s Nick Kostov explains how the French business magnate amassed his fortune and how he plans to keep that wealth under family control. Photo: Nicholas Kamm/Agence France-Presse/Getty ImagesOne of the great basketball questions of the year was finally answered on Thursday evening at the NBA draft. No, not if Victor Wembanyama, the 7-foot-4 French sensation, would be the No. But what would the most-hyped basketball prodigy since LeBron James wear to his coronation?

Persons: Bernard Arnault, Elon Musk, Jeff Bezos, Nick Kostov, Nicholas Kamm, Victor Wembanyama, LeBron James Organizations: Agence France, NBA

☆ Dior's Kim Jones sends models rising up from the floor at Paris Fashion Week
▼ + stars: | 2023-06-23 | by ( Mimosa Spencer | ) www.reuters.com time to read: +1 min

[1/5] Models present creations by designer Kim Jones as part of his Menswear ready-to-wear Spring/Summer 2024 collection show for fashion house Dior Homme during Men's Fashion Week in Paris, France, June 23, 2023. REUTERS/Gonzalo FuentesPARIS, June 23 (Reuters) - Dior men's artistic director Kim Jones took to a sparse, futuristic setting at the Ecole Militaire in central Paris, kicking off his summer show with an army of models that rose up from a metallic catwalk. A whining blast of scratchy electronic sounds set the runway presentation in motion, and the catwalk lit up as floor panels rolled back. Models emerged slowly, filling the room in rows. Reporting by Mimosa Spencer; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Jones, Dior Homme, Gonzalo Fuentes PARIS, Dior, chunky loafers, Winnie Harlow, Demi Moore, Cha Eun, Gwendoline Christie, Delphine Arnault, Bernard Arnault, Pharrell Williams, Louis Vuitton, Jay, Helen Lasichanh, Williams, Mimosa Spencer, Sandra Maler Organizations: REUTERS, Ecole Militaire, Louis, Thomson Locations: Paris, France

☆ Elon Musk and Mark Zuckerberg say they’re ready for a cage fight
▼ + stars: | 2023-06-22 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

Now Elon Musk and Mark Zuckerberg say they want to settle their scores in a cage fight. Twitter owner and Tesla (TSLA) CEO Musk recently tweeted that he would be “up for a cage fight” with Zuckerberg, the CEO of Meta. A spokesperson for the company told Verge: “The [Instagram] story speaks for itself.”It remains unclear whether Zuckerberg and Musk are serious or having a laugh. Quite who would win in a cage fight, however, remains to be seen. Musk is physically bigger than Zuckerberg, but the Meta chief practices jiu-jitsu, the Brazilian martial art, and won gold and silver in a tournament in May.

Persons: Elon Musk, Mark Zuckerberg, Musk, Zuckerberg, Alex Heath, “, Meta, —, “ naysayers, ” Musk, “ I’ve, Bernard Arnault Organizations: London CNN — Business, Twitter, Meta, “, CNN, Bloomberg Locations: Las Vegas

☆ Pharrell Williams stages Louis Vuitton debut on Pont Neuf
▼ + stars: | 2023-06-20 | by ( Mimosa Spencer | ) www.reuters.com time to read: +3 min

[1/5] Designer Pharrell Williams appears at the end of his Menswear ready-to-wear Spring/Summer 2024 collection show for fashion house Louis Vuitton, on the Pont Neuf bridge, during Men's Fashion Week in Paris, France, June 20, 2023. REUTERS/Gonzalo FuentesPARIS, June 20 (Reuters) - For his debut collection at Louis Vuitton, Pharrell Williams drew his global audience to the Pont Neuf bridge in Paris, kicking off his tenure as creative director of menswear with a celebrity-packed outdoor show that further anchored the LVMH-owned (LVMH.PA) label in popular culture. Abloh had been the industry's highest profile Black designer, credited with forging a place for street style and loose skateboard looks in high-end fashion. Williams was first introduced to the Arnault clan in a collaboration to design sunglasses with Louis Vuitton designer Marc Jacobs in 2004. Williams' appointment raised eyebrows despite his extensive fashion experience, including founding streetwear brands with Japanese designer Nigo and designing capsule collections at Chanel.

Persons: Pharrell Williams, Louis Vuitton, Gonzalo Fuentes PARIS, strode, Williams, Virgil Abloh, Abloh, Virgil, Bernard Arnault, Arnault, Marc Jacobs, Nigo, Erwan Rambourg, Robert Schramm, Fuchs, Janus Henderson, Schramm, Mimosa Spencer, Helen Reid, Vanessa O'Connell, Richard Chang Organizations: REUTERS, Louis, LVMH, Chanel, Juilliard, HSBC, Thomson Locations: Pont, Paris, France, American, LVMH

☆ Elon Musk's sister says she has been overcharged because she shares a last name with the world's richest man
▼ + stars: | 2023-06-19 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Tosca Musk told the Daily Mail she was given an inflated price for a film location because of her last name. Elon Musk's sister says she's been overcharged because she shares a surname with the world's richest man. Tosca Musk told the Daily Mail the family weren't "born rich". From left to right: Tosca Musk, Kimbal Musk, their mother Maye Musk, and Elon Musk Courtesy of Maye MuskTosca Musk is a filmmaker and the CEO and founder of Passionflix, a streaming service and production company for romantic movies. Representatives for Tosca Musk did not immediately respond to Insider's request for comment, made outside normal working hours.

Persons: Elon Musk's, Tosca Musk, she's, Kimbal Musk, Tosca, Maye Musk, Elon Musk, Bernard Arnault, Jeff Bezos Organizations: Daily Mail, Elon, SpaceX, Tesla, Amazon, Bloomberg

☆ Elon Musk and Bernard Arnault – the world’s 2 richest people – had the ultimate power lunch in Paris on Friday
▼ + stars: | 2023-06-17 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

The world's two richest people met for a power lunch in Paris on Friday. Elon Musk and Bernard Arnault, both worth more than $200 billion, dined at the Cheval Blanc hotel. "Power lunch" may have a whole new meaning after the world's two richest people dined in Paris on Friday. Elon Musk and Bernard Arnault, the CEO of LVMH, met at Cheval Blanc, the luxury hotel run by the French luxury conglomerate. Elon Musk and Antoine Arnault at the VivaTech conference in Paris on Friday.

Persons: Elon Musk, Bernard Arnault, Musk's, Alexandre, Antoine, LVMH, Cheval, Musk, he's, Maye Musk, Antoine Arnault, It's, Gonzalo Fuentes, Reuters Musk's, Giorgia Meloni, Meloni, Emmanuel Macron, Macron Organizations: Morning, Bloomberg, Eiffel, French, Reuters Locations: Paris, Cheval Blanc, Europe, France

‘An operation of seduction’Just days after the PGA-LIV Golf merger was announced, a contingent of Saudi Arabian investors and power brokers, including the crown prince, Mohammed bin Salman, has converged on France this week looking for more deals with potentially trillions to spend. The “Invest in Saudi” booth at VivaTech — where Elon Musk and the luxury tycoon Bernard Arnault are also on the program — has an outsized presence. Paid for by the Saudi Ministry of Investment, the booth serves as a kind of billboard to announce the country’s ambitions and a way to help its entrepreneurs attract Western investors and prospective business partners, Vivienne Walt writes for DealBook. Badr Al Badr, the deputy minister for investor outreach, told DealBook that Saudi Arabia has about $3.2 trillion to invest by 2030. “That is why there are so many opportunities for investors,” he said.

Persons: Mohammed bin Salman, Elon Musk, Bernard Arnault, Vivienne Walt, DealBook, Prince Mohammed, Badr Al Badr, ” Organizations: LIV, Invest, —, Elon, Saudi Ministry of Investment, PayPal, Electronic Arts Locations: Saudi Arabian, France, Saudi, Badr, Saudi Arabia

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