Mukesh Ambani’s new tenant is much richer than him, pays per month rent of Rs…, his name is…

• Home
• Business
• Mukesh Ambani’s new tenant is much richer than him, pays per month rent of Rs…, his name is…

While Mukesh Ambani remains India’s wealthiest individual, now another richest person indirectly contributes to Ambani’s income through luxury retail rentals.

Mukesh Ambani (File)

Mukesh Ambani New Tenant: According to Forbes’ latest report, Bernard Arnault & Family have a net worth of $168.8 billion, whereas Mukesh Ambani’s net worth stands at $94.9 billion.

Mukesh Ambani, the owner of Reliance Industries, is India’s richest man and consistently ranks among the world’s wealthiest individuals. However, the person renting space in one of Mukesh Ambani’s properties is even richer than him. This individual is a powerhouse in the luxury goods industry and is counted among the top 5 richest people globally.

Who is this Person?

The person in question is Bernard Arnault, CEO and Chairman of LVMH Moët Hennessy Louis Vuitton (LVMH). As per Forbes’ latest report, Bernard Arnault & Family’s net worth is an astonishing $168.8 billion, making him significantly wealthier than Mukesh Ambani, whose net worth is $94.9 billion. Bernard Arnault’s business empire is built on luxury goods, owning some of the world’s most iconic brands.

LVMH, a French multinational conglomerate, specializes in luxury products. Its portfolio includes premium brands like Louis Vuitton, Tiffany & Co., Dior, Givenchy, TAG Heuer, and Bulgari.

How Bernard Arnault Became Mukesh Ambani’s Tenant?

Technically, Bernard Arnault is not a direct tenant of Mukesh Ambani. Instead, his company has leased space in a mall owned by Ambani. The mall in question is the Jio World Plaza, located in Mumbai’s Bandra-Kurla Complex (BKC). This mall is a hub for luxury brands, housing showrooms of some of the world’s most exclusive labels.

One of these showrooms belongs to Louis Vuitton, a flagship brand of Bernard Arnault’s LVMH. The Louis Vuitton store has leased a space of 7,465 square feet in Jio World Plaza. According to an ET Now report, Louis Vuitton is paying a monthly rent of Rs 40.5 lakh ($48,600) to Mukesh Ambani’s Jio World Plaza.

Hub For Global Luxury Brands

Apart from Louis Vuitton, other prominent brands under LVMH have also set up shop in Jio World Plaza. The mall has quickly established itself as a premier destination for luxury shopping in India. Another notable addition is the first store of the globally renowned luxury brand Balenciaga, which has also opened at Jio World Plaza. Reports suggest that Balenciaga is paying a monthly rent of ₹40 lakh ($48,000) for its space.

Jio World Plaza is becoming a luxury retail powerhouse, attracting some of the world’s biggest brands, including those owned by Bernard Arnault. 

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}