Arnault, the Frenchman worth $193 billion, derives his wealth from his massive stake in LVMH Moet Hennessy Louis Vuitton.
, derives his wealth from his massive stake in multinational luxury conglomerate LVMH Moet Hennessy Louis Vuitton.
There are currently Cheval Blanc in Paris, St. Tropez, Courchevel in the French Alps, St. Bart’s, and the Madlves.Arnault’s plan for the Beverly Hills site reportedly included a mammoth structure that was taller and double the size of what was originally permitted at the site — sparking local opposition,LVMH CEO Bernard Arnault, the world’s wealthiest person, has lost a bid to build a luxury hotel on Beverly Hills’ Rodeo Drive.
If the hotel was approved, it would have been forecast to generate around $725 million in tax revenue over the next 30 years.
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