What do Jay-Z and Europe’s richest man, Bernard Arnault of LVMH, have in common?

Louis Vuitton Moet Hennesy group has seen a marked decline in overall revenue for 2020 like most businesses, however, they still generated $54.5 billion in sales, thanks to their leather and clothing division the company reported. Owned by the 3rd richest man in the world, French billionaire Bernard Arnault was elected the chairman of the executive management board in 1989 after his portfolio grew to become the largest shareholder of the company. His taste and opinion on luxury fashion are trendsetting across the world.

Their newest connection is 22-time Grammy winner, rapper Jay Z, whose high-end champagne, Armand de Brignac, will be bought by LVMH adding to their already pristine corner of Veuve Clicquot and Krug.

 


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