The Los Angeles Almanac says that LA’s richest resident is Elon Musk, a guy who makes do with a net worth of $22 billion or so. While true — Yolanda does not doubt he is our richest full-time resident — there are an assortment of other folks even richer than ol’ Musky who own part-time vacation homes here. Take Jeff Bezos, the world’s richest human. He’s got a two-house compound in Beverly Hills. Larry Ellison has 235,000 houses in Malibu. And Sheldon Adelson also has a baker’s dozen Malibu homes (or so).
Not that any of this really matters. At some point, the gap in wealth between billionaires becomes purely academic. What’s the difference between a guy worth $22 billion and a guy worth $92 billion, other than rank on the Forbes list? Neither of them could ever spend all that in a lifetime.
But anyway, there’s another unfathomably rich person who also owns residential property in LA, although we don’t think it has been reported until now. He is a Frenchman named Bernard Arnault, and Forbes claims he’s worth more than $70 billion. That’s enough moolah to make him the 4th-richest man on Earth, behind only our Mr. Bezos, Bill Gates, and Warren Buffet.
Some of y’all may know that Mr. Arnault has long been head honcho at LVMH, by far the world’s biggest luxury goods conglomerate. LVMH owns Louis Vuitton, Sephora, Dior, Givenchy, Fendi, Bulgari, Hublot, Rimowa, Veuve Cliquot, and dozens of other high-end brands. LVMH is now so massive — the group’s total revenue topped $48 billion USD last year — that Mr. Arnault has a virtual monopoly on the worldwide luxury goods market, save for his arch-rivals at Kering.
Read more at Yolanda’s Little Black Book at…..
Bernard Arnault stealthily slips out $30 million for the Beverly Hills house next door