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The SMARTEST businessman on EARTH! - LVMH Birth story
This man is probably one of the smartest billionaires in the World! He built an empire by buying other peoples businesses. This is how LVMH was created.
Bernard Arnault discovered that Christian Dior was up for sale in 1984. The French government was looking for a buyer for the failing textile empire that held other businesses, including Paris-based fashion house Dior, after its parent firm Boussac filed for bankruptcy. According to the legend, the then-35-year-old Arnault took $15 million from his family and combined it with $45 million from French financial institution Lazard Frères to purchase Boussac in an effort to acquire the renowned French fashion house. At the time, Arnault had spent the previous 10 years managing the construction company founded by his grandfather.
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