New Delhi: Mukesh Ambani, India’s richest man and the face behind Reliance Industries is a name that resonates with immense wealth and success. Yet, someone renting space in one of Ambani’s properties has even great fortune. This individual is a titan in the luxury goods industry and ranked among the top five wealthiest people globally. His net worth surpasses Ambani’s by a significant margin. Curious to know who this is? Read on to uncover the story behind this incredible twist of wealth and status.
Who is this individual?
The person renting space in one of Mukesh Ambani’s properties is none other than Bernard Arnault, CEO and Chairman of LVMH Moët Hennessy Louis Vuitton (LVMH). With a net worth of 168.8 billion dollars, as per Forbes, Arnault far surpasses Ambani’s 94.9 billion dollars fortune. His empire spans luxury brands like Louis Vuitton, Dior, Tiffany & Co., Givenchy, and TAG Heuer, making LVMH a global leader in premium goods.
So, how did Bernard Arnault become Mukesh Ambani’s tenant? Well, technically, he isn’t directly renting from Ambani—but his company is. Arnault’s luxury empire, LVMH, has leased space in Jio World Plaza, Mukesh Ambani’s premium mall in Mumbai’s Bandra-Kurla Complex (BKC).
Among the luxury showrooms in the property is one belonging to Louis Vuitton, the flagship brand of Bernard Arnault’s LVMH empire. The Louis Vuitton showroom occupies a sprawling 7,465 square feet in the mall. As reported by ET Now, the brand pays an monthly rent of Rs 40.5 lakh (around $48,600) to Ambani’s Jio World Plaza.
Jio World Plaza: A Hub for Global Luxury Brands
Jio World Plaza has rapidly become a hotspot for luxury shopping in India. It attracts some of the world’s most renowned brands. Along with Louis Vuitton, other iconic names under the LVMH umbrella have set up shop here.
The globally celebrated luxury brand Balenciaga has opened its first store in India at this prestigious location. Reports reveal that Balenciaga pays Rs 40 lakh ($48,000) per month for its space. With high-profile names and a prime location, Jio World Plaza is solidifying its position as a powerhouse for global luxury retail.