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Europe’s richest man dubbed “wolf in cashmere” overtook Elon Musk as world’s wealthiest

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Bernard Arnault is the European fashion tycoon and owner of some of the world’s biggest brands who once dethroned Elon Musk as the world’s richest person after being valued at a staggering $200 billion.

Dubbed the “wolf in cashmere”, Arnault is the man behind some of the world’s best-known luxury brands, owning nearly all of Christian Dior and more than 40pc of LVMH, the company behind Louis Vuitton, Givenchy, Moët & Chandon and more.

The 75-year-old Frenchman wasn’t always a fashion mogul, with a humble beginning in his father’s construction company and a brief stint in real estate. The change came when he purchased a struggling Boussac aint-Freres, the owners of Christian Dior in the 1980s.

Getting his first taste in the luxury world Arnault he quickly became of infamous for his aggressive business practices earning him the nickname “The terminator”.

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His devoted faith in the luxury goods market over has always been clear. Recounting a conversation with Steve Jobs to the New York Times he said: “Steve Jobs once asked me for some advice about retail, but I said, ‘I am not sure at all we are in the same business.’ I don’t know if we will still use Apple products in 25 years, but I am sure we will still be drinking Dom Pérignon.”

His wealth rapidly expanded after the merging of Louis Vuitton and Moet Hennesey where, over the next four decades, he began to sweep up the luxury goods sector with brands such as Bulgari, Belvedere, Kenxo, Dom Perignon, Givenchy, Tag Heuer and French beauty chain Sephora all coming under his umbrella.

His companies have continued to boom in the post-pandemic world, with LVMH reporting a revenue of $93.2 billion last year, briefly dethroning Elon Musk in March to become the world’s richest man. A dip in the stock led his worth to fall slightly but he still remains the only non-American in the top 10 of the Forbes billionaire list – a clear outlier being surrounded by U.S tech tycoons like Meta’s Mark Zuckerberg and Google’s Larry Page.

He is known to be a ruthless operator, having engaged in a longstanding public battle against rival Francois Pinault, the founder of direct competitor Kering, owner of Yves St.Laurent. According to Forbes, the feud goes back to 1999 when LVMH lost to Kering in the battle to acquire Gucci and with Arnault holding a grudge ever since.

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Journalists rally against White House’s decision to modify allocation of seats in briefing room

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The White House said Monday it is “seriously considering” taking control of deciding which journalists get seats in the famed briefing room, in the latest bid by President Donald Trump’s administration to exert power over the media.

The 49 spots in the press room, where spokespeople, officials and occasionally the president take the podium, have long been allocated by the non-partisan group of independent journalists, the White House Correspondents Association.

White House Press Secretary Karoline Leavitt accused the WHCA of trying to maintain a “monetized monopoly over the briefing room.”

“As for switching up seating in the briefing room, it’s something we are seriously considering,” she told Fox News.

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“The briefing room is part of the People’s House, it belongs to the American people. It does not belong to elitist journalists here in Washington DC.”

News outlet Axios reported earlier that the White House wanted to take control of the seating chart to give more prime front-of-room spots to new media, and move some legacy outlets further back.

The WHCA, of which AFP is a member, opposed the “wrong-headed” move.

“The reason the White House wants control of the briefing room is the same reason they took control of the pool: to exert pressure on journalists over coverage they disagree with,” WHCA President Eugene Daniels said in a statement.

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The WHCA and the White House both said they had tried to broker a meeting on the issue.

It is the latest effort by the White House to shape who covers Trump after taking control from the WHCA in February of the “pool” that covers the president in the Oval Office and when he travels on Air Force One.

The White House has added access to the pool for new and in several cases openly pro-Trump media, while reducing access to mainstream organisations.

It also continues to bar the Associated Press news agency from almost all presidential events as it refuses to refer to the Gulf of Mexico as the “Gulf of America,” the name newly decreed by Trump.

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Ghana: Govt cancels sale of diplomatic properties in Nigeria, Zambia

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The Ghanaian government has canceled two transactions initiated by the previous administration under the leadership of former president Nana Akufo-Addo to sell Ghanaian diplomatic properties in Nigeria and Zambia.

“Yesterday I informed Parliament that with the full backing of President Mahama, we have cancelled two transactions initiated by the previous Akufo-Addo/Bawumia government to sell Ghanaian diplomatic properties in Nigeria and Zambia.” Minister of Foreign Affairs, Hon. Samuel Okudzeto Ablakwa announced on his X.

According to the Member of Parliament for North Tongu, the current administration is determined to retrieve an illegal part payment in one of the transactions.

Adding that those who are involved in these illegal transactions will be sanctioned.

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“Determined efforts are underway to retrieve an illegal part payment in one of the transactions. The masterminds, who are currently on the run will surely be found and sanctioned.” He added.

He said the NDC government is committed to their promise that no diplomatic property belonging to the people of Ghana would be sold under President John Dramani Mahama administration.

Hon. Ablakwa warned that none of our diplomatic properties either in Ghana or any of our 71 diplomatic missions abroad are available for sale.

“We mean it when we say no diplomatic property belonging to the people of Ghana would be sold under our watch. Notice is hereby served that none of our diplomatic properties either in Ghana or any of our 71 diplomatic missions abroad are available for sale — hands off!” He stated.

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According to him, they will use the principles of Operation Recover All Loots (ORAL) to protect properties belonging to the state as well as the public purse.

“The principles of ORAL, strict abhorrence for State Capture and the national interest shall continue to guide our decisions. For God and Country.” Ablakwa assured.

Source: Elvisanokyenews.net

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Namibia to enforce visa requirement on U.S citizens

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Namibia has imposed visa requirements on U.S. citizen tourists starting from April 1, 2025.

According to the Namibian Government, U.S. citizen tourists who wish to visit the Southern African country should obtain a visa before entering the country.

The U.S Embassy in Namibia posted that US visitors are required to apply for a visa through Namibia’s online visa on arrival portal: https://eservices.mhaiss.gov.na/visaonarrival.

“Beginning April 1, 2025, the Namibian Government will require U.S. citizen tourists to obtain a visa prior to entering the country. Visitors are recommended to apply for their visa in advance of planned travel through Namibia’s online visa on arrival portal: https://eservices.mhaiss.gov.na/visaonarrival. Visitors using this online visa application system must carry a hard copy of their approval notice when they travel.” The Embassy posted.

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The Namibian Government added that visitors arriving in Windhoek, Walvis Bay, Katima Mulilo, Ngoma will also have the option of purchasing a tourist visa upon arrival at the respective airport or border crossing point.

“Visitors arriving in Windhoek, Walvis Bay, or entering at high volume border crossing points (e.g., Katima Mulilo, Ngoma) will also have the option of purchasing a tourist visa upon arrival at the respective airport or border crossing point. Namibia’s visa on arrival system is new and implementation details are subject to change.” They added.

The decision by the Namibian government to impose visa requirements on US citizens has met mixed reactions on social media.

While others are commending the government, others have also raised concerns about the negative impact on the Namibia economy as tourism contributes higher income to the government.

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Some political actors believe Namibian female President, H.E. Dr. Netumbo Nandi-Ndaitwah took the decision to reciprocate the US government visa restrictions and some Western countries who have denied visa free entry to Namibians.

Source: Elvisanokyenews.net

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