A NEW FACE just grabbed the title of Richest Person on the Planet—and he was lifted into that spot by Mrs Chinese Taitai.
Taitai is a Hong Kong term for middle or upper class ladies, roughly equivalent to the western term “ladies who lunch”.
And the man is Bernard Arnault, head of LVMH—who has suddenly become richer than Elon Musk.
This report can be watched as a video (click below) or read as an article (scroll further down).
How did he do it? The Chinese economy is starting to buzz again and Mrs Taitai celebrated by going to buy herself some investment grade treats, like Louis Vuitton handbags and Christian Dior goods – all made by Monsieur Arnault.
That caused a sharp rise in the share price of LVMH and made him the richest man in the world.
His biggest rival, a company called Hermes, also reported that there had been a big upturn in sales, also with Chinese shoppers as the main drivers.
LVMH celebrated its success by commissioning top actors and directors in Hollywood to make a five-minute commercial for its watch brand, Tag Heuer.
Ryan Gosling stars as Ryan Gosling in a meta film-within-a-film-within-a-film.
It’s a fun short story. But I suspect that the next big advertising campaign they create will have Chinese stars in it.
They know that they’ll need to hold the attention of Mrs Taitai.
Image at the top by Porapak Apichodilok/ Pexels.