A Nigerian Wage Earner will Work for 9 Million Years to Earn what This Billionaire Earns Yearly

Today Bernard Arnault will make $20.6 million—barring a cataclysmic dip in the stock market. And for every second that ticks by, this French man makes $239. So annually, he makes $7.5 billion. That’s about a fourth of Nigeria’s $27-billion budget for 2024.   

The amounts aren’t cast in stone. The figure crunchers who arrived at these took a modest approach: 4 percent yield from Arnault’s $188-billion net worth. Again, his wealth has this mercurial force to it. It stood at $233 billion last year, making him the world’s richest dude at that time.. It could change any moment, depending on how about 70 companies, including Louis Vuitton, Christian Dior, and other up-market businesses in his kitty are doing.

But, certainly, an Amazon’s wage slave stuffing packages at $15 per hour for 40 hours a week will work for 200 years to earn Arnault’s annual income. For a Nigerian earning N65000 monthly—9.6 million years of work will earn just about what the billionaire earns in a year. The minimum wage (per month) equals roughly a fourth of Arnault‘s earnings in a twinkle.

His is the power of compound wealth—a mix of old and new monies. It happens when a business whizz takes over his family business. Arnold, a civil engineer by training, worked in his father’s construction business for a couple of years. The father then left it for him. At 27, Arnault turned the business around, and headed into real estate development. His stability there encouraged him to diversify further—into the luxury industry. He eventually founded LVMH, a conglomerate of everything pricey, from clothes to perfumes and other trappings of the super-rich. Yeah, some wannabes also buy what his companies offer, though they might not know the brain behind offerings.

Most people get to hear about Arnault when his fortune rises or dips, and Forbes—or Bloomberg—reports it.

So watch out for Arnault.