Arnault's LVMH Transformation
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A story about how Bernard Arnault transformed his family's construction business into LVMH, the world's largest luxury goods conglomerate.
"His father was wealthy and owned a construction business. It wasn't billionaire big, but they sold it for $20 million in the sixties (equivalent to about $100 million now). When Bernard was in his twenties, he convinced his father to make a dramatic change. He said, 'Dad, we gotta sell our construction business and buy luxury goods.'
His reasoning was that when he went to New York, everyone knew what Chanel was, but it wasn't even a big company then. So they bought Chanel for just a million dollars, nowhere near what it's worth now. He started running it and kept buying more and more brands.
Now LVMH owns Belvedere, Hennessy, Dior, Fenty, Tag, Hublot, Moet - basically turned a construction company into the owner of the largest luxury group in the world. Bernard now goes back and forth with Gates as the richest guy in the world."
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.