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- [Narrator] This man rubbing shoulders
- [Narrator] This man
rubbing shoulders
Narrator
This
man
rubbing
shoulders
with
with
X
the likes
of
of
X
Natalie Portman, Paul McCartney
with the likes of Natalie Portman, Paul McCartney
with
the
likes
of
Natalie
Portman
Paul
McCartney
and Rihanna is French business mogul Bernard Arnault.
and Rihanna is French business
mogul
mogul
X
Bernard Arnault.
and
Rihanna
is
French
business
mogul
Bernard
Arnault
While he might not be
as
as
X
recognizable
as
as
X
those three,
While he might not be as recognizable as those three,
While
he
might
not
be
as
recognizable
as
those
three
he's got more money
than
than
X
all
of
of
X
them combined.
he's got more money than all of them combined.
he's
got
more
money
than
all
of
them
combined
Arnault is the world's richest person
Arnault is the world's richest person
Arnault
is
the
world's
richest
person
with
with
X
a net worth
of
of
X
$191 billion
at
at
X
the start
of
of
X
2023.
with a
net worth
net worth
X
of $191 billion at the start of 2023.
with
a
net
worth
of
191
billion
at
the
start
of
2023
- He is one
of
of
X
the most important businessmen in the world,
- He is one of the most important businessmen in the world,
He
is
one
of
the
most
important
businessmen
in
the
world
certainly the most important in France right now.
certainly the most important in France right now.
certainly
the
most
important
in
France
right
now
- [Narrator] He is the CEO
- [Narrator] He is the CEO
Narrator
He
is
the
CEO
of
of
X
LVMH Moët Hennessy Louis Vuitton,
of LVMH Moët Hennessy Louis Vuitton,
of
LVMH
Moët
Hennessy
Louis
Vuitton
which is basically the first word
in
in
X
luxury.
which is basically
the first word in luxury
.
which
is
basically
the
first
word
in
luxury
In addition to Louis Vuitton, the conglomerate
In addition to Louis Vuitton, the
conglomerate
conglomerate
X
In
addition
to
Louis
Vuitton
the
conglomerate
includes brands such
as
as
X
Dior, Tiffany's,
includes brands such as Dior, Tiffany's,
includes
brands
such
as
Dior
Tiffany's
and Belvedere Vodka.
and Belvedere Vodka.
and
Belvedere
Vodka
- Luxury
for
for
X
for
for
X
me is how can you create desire?
- Luxury for for me is how can you create desire?
Luxury
for
for
me
is
how
can
you
create
desire
- [Narrator] He's been in charge
of
of
X
LVMH
since
since
X
1989
- [Narrator] He's been in charge of LVMH since 1989
Narrator
He's
been
in
charge
of
LVMH
since
1989
and all
of
of
X
his children
and all of his children
and
all
of
his
children
have powerful roles
within
within
X
the business.
have powerful roles within the business.
have
powerful
roles
within
the
business
Here's how Bernard Arnault built his wealth
Here's how Bernard Arnault built his wealth
Here's
how
Bernard
Arnault
built
his
wealth
and how he plans
to
to
X
keep it
under
under
X
family control.
and how he plans to keep it under family control.
and
how
he
plans
to
keep
it
under
family
control
(playful music) (paparazzi chatting)
(playful music) (paparazzi chatting)
playful
music
paparazzi
chatting
The richest person in the world isn't a tabloid mainstay
The richest person in the world isn't a
tabloid mainstay
The
richest
person
in
the
world
isn't
a
tabloid
mainstay
or red carpet regular,
or
red carpet
red carpet
X
regular,
or
red
carpet
regular
even if he is seen on the front row
even if he is seen on the front row
even
if
he
is
seen
on
the
front
row
at
at
X
his brands' fashion shows.
at his brands' fashion shows.
at
his
brands'
fashion
shows
- He's a guy who is somewhat shy.
- He's a guy who is somewhat shy.
He's
a
guy
who
is
somewhat
shy
He's even maybe a tiny bit awkward.
He's even maybe a tiny bit
awkward
awkward
X
.
He's
even
maybe
a
tiny
bit
awkward
There's a saying, which gets repeated
to
to
X
me constantly
There's a saying, which gets repeated to me constantly
There's
a
saying
which
gets
repeated
to
me
constantly
by
by
X
French billionaires and French CEOs, which is
by French billionaires and French CEOs, which is
by
French
billionaires
and
French
CEOs
which
is
(Nick speaking in French)
(Nick speaking in French)
Nick
speaking
in
French
which basically means
to
to
X
live happily,
which basically means to live happily,
which
basically
means
to
live
happily
you have
to
to
X
live hidden.
you have to live hidden.
you
have
to
live
hidden
- [Narrator] The beginning
of
of
X
the Arnault empire starts
- [Narrator] The beginning of the Arnault
empire
empire
X
starts
Narrator
The
beginning
of
the
Arnault
empire
starts
with
with
X
an acquisition, which would become something
with an
acquisition
acquisition
X
, which would become something
with
an
acquisition
which
would
become
something
of
of
X
a modus operandi
for
for
X
him
over
over
X
the next 30 years.
of a
modus operandi
for him over the next 30 years.
of
a
modus
operandi
for
him
over
the
next
30
years
In 1984, he took
over
over
X
Boussac, the holding company
In 1984, he took over Boussac, the
holding company
holding company
X
In
1984
he
took
over
Boussac
the
holding
company
that owned French fashion house Christian Dior.
that owned French fashion house Christian Dior.
that
owned
French
fashion
house
Christian
Dior
- Christian Dior is maybe the most recognizable
- Christian Dior is maybe the most recognizable
Christian
Dior
is
maybe
the
most
recognizable
and the most well-known fashion name
in
in
X
the world.
and the most well-known fashion name in the world.
and
the
most
well-known
fashion
name
in
the
world
- [Narrator] He sold
off
off
X
pretty much all
- [Narrator] He sold off pretty much all
Narrator
He
sold
off
pretty
much
all
of
of
X
the group's brands
but
but
X
Dior,
of the group's brands but Dior,
of
the
group's
brands
but
Dior
and pulled it out
of
of
X
bankruptcy.
and pulled it out of bankruptcy.
and
pulled
it
out
of
bankruptcy
In the late '80s,
In the late '80s,
In
the
late
'80s
Dior's revival helped Arnault amass a stake
Dior's revival helped Arnault amass a
stake
stake
X
Dior's
revival
helped
Arnault
amass
a
stake
in
in
X
the recently founded LVMH,
in the recently founded LVMH,
in
the
recently
founded
LVMH
of
of
X
which he soon became the majority shareholder,
of which he soon became the
majority shareholder
majority shareholder
X
,
of
which
he
soon
became
the
majority
shareholder
CEO and chairman.
CEO and
chairman
chairman
X
.
CEO
and
chairman
Over 30 years and several acquisitions later,
Over 30 years and several acquisitions later,
Over
30
years
and
several
acquisitions
later
LVMH now includes 75 brands,
LVMH now includes 75 brands,
LVMH
now
includes
75
brands
covering wine, jewelry, hotels and fashion.
covering wine, jewelry, hotels and fashion.
covering
wine
jewelry
hotels
and
fashion
The European company has also expanded
The European company has also
expanded
expanded
X
The
European
company
has
also
expanded
into
into
X
China and the US where Arnault once joined
into China and the US where Arnault once joined
into
China
and
the
US
where
Arnault
once
joined
then President Donald Trump
at
at
X
the opening
then President Donald Trump at the opening
then
President
Donald
Trump
at
the
opening
of
of
X
a Louis Vuitton factory
in
in
X
Texas.
of a Louis Vuitton factory in Texas.
of
a
Louis
Vuitton
factory
in
Texas
- He's a great gentleman, a great businessman
- He's a great gentleman, a great businessman
He's
a
great
gentleman
a
great
businessman
and he's really an artist.
and he's really an artist.
and
he's
really
an
artist
To me, Bernard is an artist
To me, Bernard is an artist
To
me
Bernard
is
an
artist
and what he's done is incredible.
and what he's done is incredible.
and
what
he's
done
is
incredible
- [Narrator] The luxury giant now
- [Narrator] The luxury giant now
Narrator
The
luxury
giant
now
has a market value
of
of
X
nearly $438 billion
has a market value of nearly $438 billion
has
a
market
value
of
nearly
438
billion
and revenue last year was
around
around
X
$86 billion.
and revenue last year was around $86 billion.
and
revenue
last
year
was
around
86
billion
These results have boosted Arnault's wealth
These results have
boosted
boosted
X
Arnault's wealth
These
results
have
boosted
Arnault's
wealth
and put him
above
above
X
the likes
and put him above the likes
and
put
him
above
the
likes
of
of
X
big tech billionaires such
as
as
X
Elon Musk and Jeff Bezos.
of big tech billionaires such as Elon Musk and Jeff Bezos.
of
big
tech
billionaires
such
as
Elon
Musk
and
Jeff
Bezos
While those men have seen their company shares drop
While those men have seen their company shares
drop
drop
X
While
those
men
have
seen
their
company
shares
drop
in
in
X
recent months, LVMH's share price
in recent months, LVMH's share price
in
recent
months
LVMH's
share
price
is
up
up
X
over
over
X
165%
since
since
X
lows in March
of
of
X
2020.
is up over 165% since lows in March of 2020.
is
up
over
165
since
lows
in
March
of
2020
Though the stock market
Though the stock market
Though
the
stock
market
is apparently not something Arnault pays attention
to
to
X
.
is apparently not something Arnault pays attention to.
is
apparently
not
something
Arnault
pays
attention
to
(Bernard speaking in French)
(Bernard speaking in French)
Bernard
speaking
in
French
- [Narrator] That price boost was thanks to a surge
- [Narrator] That price boost was thanks to a
surge
surge
X
Narrator
That
price
boost
was
thanks
to
a
surge
and demand
for
for
X
luxury goods
during
during
X
the pandemic
and demand for luxury goods during the pandemic
and
demand
for
luxury
goods
during
the
pandemic
when affluent shoppers were stuck
at
at
X
home flush
with
with
X
cash.
when
affluent
affluent
X
shoppers were stuck at home
flush
flush
X
with cash.
when
affluent
shoppers
were
stuck
at
home
flush
with
cash
And more recently, China's loosening
And more recently, China's
loosening
loosening
X
And
more
recently
China's
loosening
of
of
X
strict COVID-19 rules.
of strict COVID-19 rules.
of
strict
COVID-19
rules
The country is one
of
of
X
the luxury industry's biggest markets.
The country is one of the luxury industry's biggest markets.
The
country
is
one
of
the
luxury
industry's
biggest
markets
- Bernard Arnault himself has a ton
of
of
X
legitimacy
- Bernard Arnault himself has a
ton of legitimacy
Bernard
Arnault
himself
has
a
ton
of
legitimacy
because he built
up
up
X
this company
from
from
X
scratch.
because he
built up this company from scratch
.
because
he
built
up
this
company
from
scratch
He built this empire
through
through
X
several battles.
He built this
empire
empire
X
through several battles.
He
built
this
empire
through
several
battles
He's obviously involved
He's obviously involved
He's
obviously
involved
in all the key aspects
of
of
X
the business.
in all the
key aspects of the business
.
in
all
the
key
aspects
of
the
business
- [Narrator] Also involved in key aspects
of
of
X
the business
- [Narrator] Also involved in
key aspects of the business
Narrator
Also
involved
in
key
aspects
of
the
business
are his five children who are often seen
are his five children who are often seen
are
his
five
children
who
are
often
seen
with
with
X
him
at
at
X
brand events.
with him at brand events.
with
him
at
brand
events
Let's meet the family.
Let's meet the family.
Let's
meet
the
family
Arnault married his first wife, Anne Dewavrin, in 1973
Arnault married his first wife, Anne Dewavrin, in 1973
Arnault
married
his
first
wife
Anne
Dewavrin
in
1973
and they had two children, Delphine and Antoine.
and they had two children, Delphine and Antoine.
and
they
had
two
children
Delphine
and
Antoine
Delphine is the newly minted CEO
of
of
X
Christian Dior,
Delphine is the newly
minted
minted
X
CEO of Christian Dior,
Delphine
is
the
newly
minted
CEO
of
Christian
Dior
while her younger brother, Antoine,
while her younger brother, Antoine,
while
her
younger
brother
Antoine
is CEO
of
of
X
the family holding company.
is CEO of the family
holding company
holding company
X
.
is
CEO
of
the
family
holding
company
After divorcing Anne, Arnault married Helene Mercier
After divorcing Anne, Arnault married Helene Mercier
After
divorcing
Anne
Arnault
married
Helene
Mercier
and had three more children.
and had three more children.
and
had
three
more
children
Alexandre holds an executive vice president position
Alexandre holds an
executive
executive
X
vice president position
Alexandre
holds
an
executive
vice
president
position
at
at
X
Tiffany's, the American jeweler LVMH took
over
over
X
in
in
X
2021.
at Tiffany's, the American jeweler LVMH took over in 2021.
at
Tiffany's
the
American
jeweler
LVMH
took
over
in
2021
Frederic is CEO
of
of
X
watchmaker Tag Heuer,
Frederic is CEO of watchmaker Tag Heuer,
Frederic
is
CEO
of
watchmaker
Tag
Heuer
and Jean heads
up
up
X
marketing development
and Jean heads up marketing development
and
Jean
heads
up
marketing
development
for
for
X
Louis Vuitton watches.
for Louis Vuitton watches.
for
Louis
Vuitton
watches
(Bernard speaking in French)
(Bernard speaking in French)
Bernard
speaking
in
French
- [Narrator] The Arnaults own more
than
than
X
97%
of
of
X
Dior,
- [Narrator] The Arnaults own more than 97% of Dior,
Narrator
The
Arnaults
own
more
than
97
of
Dior
which
in
in
X
turn owns 41%
of
of
X
LVMH.
which in turn owns 41% of LVMH.
which
in
turn
owns
41
of
LVMH
The family also owns close
to
to
X
7%
of
of
X
LVMH directly.
The family also owns close to 7% of LVMH directly.
The
family
also
owns
close
to
7
of
LVMH
directly
On top
of
of
X
that,
On top of that,
On
top
of
that
they have total voting rights
of
of
X
more
than
than
X
60%.
they have total voting rights of more than 60%.
they
have
total
voting
rights
of
more
than
60
- So essentially what the Arnaults
- So essentially what the Arnaults
So
essentially
what
the
Arnaults
and what Bernard Arnault himself decides
and what Bernard Arnault himself decides
and
what
Bernard
Arnault
himself
decides
goes
in
in
X
that company.
goes in that company.
goes
in
that
company
- [Narrator] And Arnault has taken steps
- [Narrator] And Arnault has taken steps
Narrator
And
Arnault
has
taken
steps
to
to
X
ensure his family retains control
over
over
X
the empire.
to ensure his family retains control over the
empire
empire
X
.
to
ensure
his
family
retains
control
over
the
empire
Last year, LVMH voted
to
to
X
raise the age limit
of
of
X
its CEO,
Last year, LVMH voted to raise the age limit of its CEO,
Last
year
LVMH
voted
to
raise
the
age
limit
of
its
CEO
meaning the 73-year-old Arnault could remain
meaning the 73-year-old Arnault could remain
meaning
the
73-year-old
Arnault
could
remain
in
in
X
charge
until
until
X
he's 80, if he wishes.
in charge until he's 80, if he wishes.
in
charge
until
he's
80
if
he
wishes
He also changed the structure
of
of
X
the family holding company.
He also changed the structure of the family
holding company
holding company
X
.
He
also
changed
the
structure
of
the
family
holding
company
- The children will each have a 20% stake
in
in
X
this structure
- The children will each have a 20%
stake
stake
X
in this structure
The
children
will
each
have
a
20
stake
in
this
structure
and they can't sell their shares
for
for
X
30 years
and they can't sell their shares for 30 years
and
they
can't
sell
their
shares
for
30
years
and it essentially will keep the shares
and it essentially will keep the shares
and
it
essentially
will
keep
the
shares
in
in
X
the family even
beyond
beyond
X
that.
in the family even beyond that.
in
the
family
even
beyond
that
And it's one
of
of
X
the kind
And it's one of the kind
And
it's
one
of
the
kind
of
of
X
favorite pastimes in Parisian business circle
of favorite pastimes in Parisian business circle
of
favorite
pastimes
in
Parisian
business
circle
to
to
X
kind
of
of
X
watch his children
to kind of watch his children
to
kind
of
watch
his
children
and track their progress
with
with
X
a view
to
to
X
succession.
and track their progress with a view to
succession
succession
X
.
and
track
their
progress
with
a
view
to
succession
- [Narrator] Arnault has not publicly named a successor
- [Narrator] Arnault has not publicly named a successor
Narrator
Arnault
has
not
publicly
named
a
successor
but
but
X
whoever it is will inherit a company
but whoever it is will inherit a company
but
whoever
it
is
will
inherit
a
company
that has successfully navigated the pandemic
that has successfully navigated the pandemic
that
has
successfully
navigated
the
pandemic
amid
amid
X
concerns
for
for
X
the future
of
of
X
the industry.
amid concerns for the future of the industry.
amid
concerns
for
the
future
of
the
industry
High inflation and the war in Ukraine
High
inflation
inflation
X
and the war in Ukraine
High
inflation
and
the
war
in
Ukraine
have prompted estimates
of
of
X
a slowdown
have prompted estimates of a slowdown
have
prompted
estimates
of
a
slowdown
in
in
X
luxury good sales
in
in
X
2023.
in luxury good sales in 2023.
in
luxury
good
sales
in
2023
And in China, a recent wave
And in China, a recent
wave
wave
X
And
in
China
a
recent
wave
of
of
X
COVID infections means life there remains disrupted.
of COVID infections means life there remains disrupted.
of
COVID
infections
means
life
there
remains
disrupted
Economists also haven't ruled out a global recession.
Economists also haven't ruled out a global
recession
recession
X
.
Economists
also
haven't
ruled
out
a
global
recession
For now though
at
at
X
least,
For now though at least,
For
now
though
at
least
the luxury market's wealthy customers seem happy
the luxury market's wealthy customers seem happy
the
luxury
market's
wealthy
customers
seem
happy
to
to
X
keep spending.
to keep spending.
to
keep
spending
- The luxury goods industry
- The luxury goods industry
The
luxury
goods
industry
has been a good one
for
for
X
investors
has been a good one for investors
has
been
a
good
one
for
investors
in part because global wealth every year is rising.
in part
because global wealth every year is rising.
in
part
because
global
wealth
every
year
is
rising
And so more and more people are coming
And so more and more people are coming
And
so
more
and
more
people
are
coming
into
into
X
the luxury goods market each year
into the luxury goods market each year
into
the
luxury
goods
market
each
year
and that's obviously good
for
for
X
LVMH,
for
for
X
Bernard Arnault,
and that's obviously good for LVMH, for Bernard Arnault,
and
that's
obviously
good
for
LVMH
for
Bernard
Arnault
and
for
for
X
people selling luxury goods.
and for people selling luxury goods.
and
for
people
selling
luxury
goods
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key aspects of the business
Definition
'Key aspects of the business' means the most important parts of a business.
Example
The CEO was involved in key aspects of the business such as marketing and finance.
ton of legitimacy
Definition
'A ton of legitimacy' means to have a lot of credibility.
Example
The new CEO had a ton of legitimacy due to her impressive track record.
ɛkˈspandɪd
ɪkˈspændəd
Definition
________(________v________e________r________b________)________ ________T________o________ ________i________n________c________r________e________a________s________e________ ________i________n________ ________s________i________z________e________,________ ________v________o________l________u________m________e________,________ ________q________u________a________n________t________i________t________y________,________ ________o________r________ ________s________c________o________p________e________.________
ˌrɛd ˈkɑːpɪt
Definition
________(________n________o________u________n________)________ ________A________ ________l________o________n________g________,________ ________r________e________d________ ________c________a________r________p________e________t________ ________t________h________a________t________ ________i________s________ ________u________s________e________d________ ________t________o________ ________w________e________l________c________o________m________e________ ________o________r________ ________h________o________n________o________r________ ________i________m________p________o________r________t________a________n________t________ ________g________u________e________s________t________s________ ________o________r________ ________c________e________l________e________b________r________i________t________i________e________s________ ________a________t________ ________s________p________e________c________i________a________l________ ________e________v________e________n________t________s________.________
ˈɔːkwəd
ˈɔkwərd
Definition
________(________a________d________j________e________c________t________i________v________e________)________ ________c________a________u________s________i________n________g________ ________o________r________ ________f________e________e________l________i________n________g________ ________e________m________b________a________r________r________a________s________s________m________e________n________t________ ________o________r________ ________i________n________c________o________n________v________e________n________i________e________n________c________e________
ˈluːsənɪŋ
Definition
________(________n________o________u________n________)________ ________T________h________e________ ________a________c________t________ ________o________f________ ________m________a________k________i________n________g________ ________s________o________m________e________t________h________i________n________g________ ________l________e________s________s________ ________t________i________g________h________t________ ________o________r________ ________r________e________s________t________r________i________c________t________i________v________e________.________
səːdʒ
sərdʒ
Definition
________(________n________o________u________n________)________ ________A________ ________s________u________d________d________e________n________ ________a________n________d________ ________s________i________g________n________i________f________i________c________a________n________t________ ________i________n________c________r________e________a________s________e________ ________o________r________ ________r________i________s________e________ ________i________n________ ________s________o________m________e________t________h________i________n________g________.________
flʌʃ
fləʃ
Definition
________(________a________d________j________e________c________t________i________v________e________)________ ________h________a________v________i________n________g________ ________a________n________ ________a________b________u________n________d________a________n________t________ ________s________u________p________p________l________y________ ________o________f________ ________m________o________n________e________y________ ________o________r________ ________r________e________s________o________u________r________c________e________s________
ˈbuːstɪd
Definition
________(________v________e________r________b________)________ ________T________o________ ________i________n________c________r________e________a________s________e________ ________o________r________ ________i________m________p________r________o________v________e________ ________s________o________m________e________t________h________i________n________g________,________ ________e________s________p________e________c________i________a________l________l________y________ ________i________n________ ________t________e________r________m________s________ ________o________f________ ________v________a________l________u________e________,________ ________s________u________c________c________e________s________s________,________ ________o________r________ ________c________o________n________f________i________d________e________n________c________e________.________
ˈmɪntɪd
ˈmɪn(t)əd
Definition
________(________a________d________j________e________c________t________i________v________e________)________ ________N________e________w________l________y________ ________c________r________e________a________t________e________d________ ________o________r________ ________a________p________p________o________i________n________t________e________d________
drɒp
drɑp
Definition
________(________v________e________r________b________)________ ________T________o________ ________f________a________l________l________ ________o________r________ ________d________e________c________r________e________a________s________e________ ________i________n________ ________v________a________l________u________e________,________ ________a________m________o________u________n________t________,________ ________o________r________ ________l________e________v________e________l________.________
Definition
________(________n________o________u________n________)________ ________N________e________t________ ________w________o________r________t________h________ ________i________s________ ________t________h________e________ ________t________o________t________a________l________ ________v________a________l________u________e________ ________o________f________ ________a________ ________p________e________r________s________o________n________'________s________ ________a________s________s________e________t________s________ ________m________i________n________u________s________ ________t________h________e________i________r________ ________l________i________a________b________i________l________i________t________i________e________s________
ˌakwɪˈzɪʃn
ˌækwəˈzɪʃ(ə)n
Definition
________(________n________o________u________n________)________ ________A________n________ ________a________c________q________u________i________s________i________t________i________o________n________ ________i________s________ ________t________h________e________ ________p________u________r________c________h________a________s________e________ ________o________f________ ________o________n________e________ ________c________o________m________p________a________n________y________ ________b________y________ ________a________n________o________t________h________e________r________
Definition
________(________n________o________u________n________)________ ________A________ ________m________a________j________o________r________i________t________y________ ________s________h________a________r________e________h________o________l________d________e________r________ ________i________s________ ________a________ ________p________e________r________s________o________n________ ________o________r________ ________c________o________m________p________a________n________y________ ________t________h________a________t________ ________o________w________n________s________ ________m________o________r________e________ ________t________h________a________n________ ________5________0________%________ ________o________f________ ________t________h________e________ ________s________h________a________r________e________s________ ________i________n________ ________a________ ________c________o________m________p________a________n________y________
ˈhoʊldɪŋ ˌkəmp(ə)ni
Definition
________(________n________o________u________n________)________ ________A________ ________h________o________l________d________i________n________g________ ________c________o________m________p________a________n________y________ ________i________s________ ________a________ ________c________o________m________p________a________n________y________ ________t________h________a________t________ ________o________w________n________s________ ________o________t________h________e________r________ ________c________o________m________p________a________n________i________e________s________.________
rubbing shoulders
Definition
Rubbing shoulders means to be in the same social circle as someone, usually someone famous or important.
Example
if you attend a party with a celebrity, you could say you were rubbing shoulders with them.
the first word in luxury
Definition
The first word in luxury means that something is the best or most luxurious of its kind.
Example
if a car is the most expensive and luxurious car on the market, you could say it is the first word in luxury.
tabloid mainstay
Definition
A tabloid mainstay means someone who is often featured in tabloid magazines.
Example
if a celebrity is always in the news and featured in magazines, you could say they are a tabloid mainstay.
modus operandi
Definition
Modus operandi means a particular way of doing something.
Example
if a company always follows the same process when launching a new product, you could say it is their modus operandi.
built up this company from scratch
Definition
'Built up from scratch' means to create something from nothing.
Example
The entrepreneur built up her business from scratch and now it is a multi-million dollar company.
in part
Definition
In part means partially or to some degree. In the given context, it means that global wealth is rising to some degree because of something.
Example
the rise in global wealth could be in part because of increased investment in technology.
ˈməʊɡl
ˈmoʊɡ(ə)l
Definition
________(________n________o________u________n________)________ ________M________o________g________u________l________ ________i________s________ ________a________ ________p________o________w________e________r________f________u________l________ ________a________n________d________ ________i________n________f________l________u________e________n________t________i________a________l________ ________p________e________r________s________o________n________,________ ________e________s________p________e________c________i________a________l________l________y________ ________i________n________ ________b________u________s________i________n________e________s________s________ ________o________r________ ________i________n________d________u________s________t________r________y________
səkˈsɛʃn
səkˈsɛʃ(ə)n
Definition
________(________n________o________u________n________)________ ________S________u________c________c________e________s________s________i________o________n________ ________i________s________ ________t________h________e________ ________p________r________o________c________e________s________s________ ________o________f________ ________s________o________m________e________o________n________e________ ________t________a________k________i________n________g________ ________t________h________e________ ________p________l________a________c________e________ ________o________f________ ________a________n________o________t________h________e________r________ ________p________e________r________s________o________n________ ________i________n________ ________a________ ________j________o________b________ ________o________r________ ________p________o________s________i________t________i________o________n________ ________o________f________ ________p________o________w________e________r________
weɪv
weɪv
Definition
________(________n________o________u________n________)________ ________A________ ________w________a________v________e________ ________i________s________ ________a________ ________l________a________r________g________e________ ________a________m________o________u________n________t________ ________o________f________ ________s________o________m________e________t________h________i________n________g________ ________t________h________a________t________ ________h________a________p________p________e________n________s________ ________s________u________d________d________e________n________l________y________ ________a________n________d________ ________i________s________ ________t________h________e________n________ ________f________o________l________l________o________w________e________d________ ________b________y________ ________a________ ________p________e________r________i________o________d________ ________o________f________ ________c________a________l________m________
rɪˈsɛʃn
rəˈsɛʃ(ə)n
Definition
________(________n________o________u________n________)________ ________A________ ________r________e________c________e________s________s________i________o________n________ ________i________s________ ________a________ ________p________e________r________i________o________d________ ________o________f________ ________t________e________m________p________o________r________a________r________y________ ________e________c________o________n________o________m________i________c________ ________d________e________c________l________i________n________e________ ________d________u________r________i________n________g________ ________w________h________i________c________h________ ________t________r________a________d________e________ ________a________n________d________ ________i________n________d________u________s________t________r________i________a________l________ ________a________c________t________i________v________i________t________y________ ________a________r________e________ ________r________e________d________u________c________e________d________
steɪk
steɪk
Definition
________(________n________o________u________n________)________ ________A________ ________s________t________a________k________e________ ________i________s________ ________a________n________ ________a________m________o________u________n________t________ ________o________f________ ________m________o________n________e________y________ ________i________n________v________e________s________t________e________d________ ________i________n________ ________a________ ________c________o________m________p________a________n________y________ ________o________r________ ________b________u________s________i________n________e________s________s________ ________v________e________n________t________u________r________e________
ˈtʃɛːmən
ˈtʃɛrmən
Definition
________(________n________o________u________n________)________ ________A________ ________c________h________a________i________r________m________a________n________ ________i________s________ ________t________h________e________ ________p________e________r________s________o________n________ ________w________h________o________ ________i________s________ ________i________n________ ________c________h________a________r________g________e________ ________o________f________ ________a________ ________c________o________m________p________a________n________y________ ________o________r________ ________o________r________g________a________n________i________z________a________t________i________o________n________
kənˈɡlɒm(ə)rət
kənˈɡlɑmərət
Definition
________(________n________o________u________n________)________ ________A________ ________c________o________n________g________l________o________m________e________r________a________t________e________ ________i________s________ ________a________ ________l________a________r________g________e________ ________c________o________r________p________o________r________a________t________i________o________n________ ________m________a________d________e________ ________u________p________ ________o________f________ ________s________e________v________e________r________a________l________ ________s________m________a________l________l________e________r________ ________c________o________m________p________a________n________i________e________s________ ________t________h________a________t________ ________o________p________e________r________a________t________e________ ________i________n________ ________d________i________f________f________e________r________e________n________t________ ________i________n________d________u________s________t________r________i________e________s________
ˈɛmpʌɪə
ˈɛmˌpaɪ(ə)r
Definition
________(________n________o________u________n________)________ ________E________m________p________i________r________e________ ________i________s________ ________a________ ________l________a________r________g________e________ ________g________r________o________u________p________ ________o________f________ ________c________o________u________n________t________r________i________e________s________ ________o________r________ ________t________e________r________r________i________t________o________r________i________e________s________ ________u________n________d________e________r________ ________t________h________e________ ________c________o________n________t________r________o________l________ ________o________f________ ________a________ ________s________i________n________g________l________e________ ________r________u________l________e________r________ ________o________r________ ________g________o________v________e________r________n________m________e________n________t________
ɪnˈfleɪʃn
ɪnˈfleɪʃ(ə)n
Definition
________(________n________o________u________n________)________ ________I________n________f________l________a________t________i________o________n________ ________i________s________ ________a________ ________r________i________s________e________ ________i________n________ ________t________h________e________ ________g________e________n________e________r________a________l________ ________l________e________v________e________l________ ________o________f________ ________p________r________i________c________e________s________ ________o________f________ ________g________o________o________d________s________ ________a________n________d________ ________s________e________r________v________i________c________e________s________ ________i________n________ ________a________n________ ________e________c________o________n________o________m________y________ ________o________v________e________r________ ________a________ ________p________e________r________i________o________d________ ________o________f________ ________t________i________m________e________
ɛɡˈzɛkjʊtɪv
ɛɡˈzɛkjədɪv
Definition
________(________n________o________u________n________)________ ________A________n________ ________e________x________e________c________u________t________i________v________e________ ________i________s________ ________a________ ________p________e________r________s________o________n________ ________w________i________t________h________ ________a________ ________s________e________n________i________o________r________ ________r________o________l________e________ ________i________n________ ________a________ ________c________o________m________p________a________n________y________ ________o________r________ ________o________r________g________a________n________i________z________a________t________i________o________n________.________
ˈaflʊənt
ˈæˌfluənt
Definition
________(________a________d________j________e________c________t________i________v________e________)________ ________A________f________f________l________u________e________n________t________ ________m________e________a________n________s________ ________h________a________v________i________n________g________ ________a________ ________l________o________t________ ________o________f________ ________m________o________n________e________y________ ________o________r________ ________p________o________s________s________e________s________s________i________o________n________s________;________ ________w________e________a________l________t________h________y________.________
key aspects of the business
Definition
'Key aspects of the business' means the most important parts of a business.
Example
The CEO was involved in key aspects of the business such as marketing and finance.
ton of legitimacy
Definition
'A ton of legitimacy' means to have a lot of credibility.
Example
The new CEO had a ton of legitimacy due to her impressive track record.
expanded
ɛkˈspandɪd
ɪkˈspændəd
Definition
(verb) To increase in size, volume, quantity, or scope.
Example
The European company has also expanded its operations to Asia.
red carpet
ˌrɛd ˈkɑːpɪt
Definition
(noun) A long, red carpet that is used to welcome or honor important guests or celebrities at special events.
Example
She walked down the red carpet at the movie premiere.
awkward
ˈɔːkwəd
ˈɔkwərd
Definition
(adjective) causing or feeling embarrassment or inconvenience
Example
She felt awkward when she accidentally spilled her drink at the party.
loosening
ˈluːsənɪŋ
Definition
(noun) The act of making something less tight or restrictive.
Example
The loosening of regulations allowed for more economic growth.
surge
səːdʒ
sərdʒ
Definition
(noun) A sudden and significant increase or rise in something.
Example
There was a surge in sales after the new product launch.
flush
flʌʃ
fləʃ
Definition
(adjective) having an abundant supply of money or resources
Example
After winning the lottery, he was flush with cash and could afford anything he wanted.
boosted
ˈbuːstɪd
Definition
(verb) To increase or improve something, especially in terms of value, success, or confidence.
Example
The new marketing campaign boosted sales by 20%.
minted
ˈmɪntɪd
ˈmɪn(t)əd
Definition
(adjective) Newly created or appointed
Example
After years of hard work, John became the newly minted professor of physics at the university.
drop
drɒp
drɑp
Definition
(verb) To fall or decrease in value, amount, or level.
Example
The price of oil dropped significantly last week.
net worth
Definition
(noun) Net worth is the total value of a person's assets minus their liabilities
Example
The net worth of Bill Gates is estimated to be around $130 billion
acquisition
ˌakwɪˈzɪʃn
ˌækwəˈzɪʃ(ə)n
Definition
(noun) An acquisition is the purchase of one company by another
Example
Google's acquisition of YouTube in 2006 was one of the largest in history
majority shareholder
Definition
(noun) A majority shareholder is a person or company that owns more than 50% of the shares in a company
Example
Warren Buffett is the majority shareholder of Berkshire Hathaway
holding company
ˈhoʊldɪŋ ˌkəmp(ə)ni
Definition
(noun) A holding company is a company that owns other companies.
Example
Berkshire Hathaway is a holding company that owns several large companies
rubbing shoulders
Definition
Rubbing shoulders means to be in the same social circle as someone, usually someone famous or important.
Example
if you attend a party with a celebrity, you could say you were rubbing shoulders with them.
the first word in luxury
Definition
The first word in luxury means that something is the best or most luxurious of its kind.
Example
if a car is the most expensive and luxurious car on the market, you could say it is the first word in luxury.
tabloid mainstay
Definition
A tabloid mainstay means someone who is often featured in tabloid magazines.
Example
if a celebrity is always in the news and featured in magazines, you could say they are a tabloid mainstay.
modus operandi
Definition
Modus operandi means a particular way of doing something.
Example
if a company always follows the same process when launching a new product, you could say it is their modus operandi.
built up this company from scratch
Definition
'Built up from scratch' means to create something from nothing.
Example
The entrepreneur built up her business from scratch and now it is a multi-million dollar company.
in part
Definition
In part means partially or to some degree. In the given context, it means that global wealth is rising to some degree because of something.
Example
the rise in global wealth could be in part because of increased investment in technology.
mogul
ˈməʊɡl
ˈmoʊɡ(ə)l
Definition
(noun) Mogul is a powerful and influential person, especially in business or industry
Example
Jeff Bezos is a tech mogul who founded Amazon
succession
səkˈsɛʃn
səkˈsɛʃ(ə)n
Definition
(noun) Succession is the process of someone taking the place of another person in a job or position of power
Example
The Queen's eldest son will take the throne upon her succession
wave
weɪv
weɪv
Definition
(noun) A wave is a large amount of something that happens suddenly and is then followed by a period of calm
Example
The internet has seen a wave of new users in the past year
recession
rɪˈsɛʃn
rəˈsɛʃ(ə)n
Definition
(noun) A recession is a period of temporary economic decline during which trade and industrial activity are reduced
Example
The global economy is in a recession due to the pandemic
stake
steɪk
steɪk
Definition
(noun) A stake is an amount of money invested in a company or business venture
Example
The company's founders each have a 25% stake in the business
chairman
ˈtʃɛːmən
ˈtʃɛrmən
Definition
(noun) A chairman is the person who is in charge of a company or organization
conglomerate
kənˈɡlɒm(ə)rət
kənˈɡlɑmərət
Definition
(noun) A conglomerate is a large corporation made up of several smaller companies that operate in different industries
Example
The Walt Disney Company is a media conglomerate that owns several television networks and movie studios
empire
ˈɛmpʌɪə
ˈɛmˌpaɪ(ə)r
Definition
(noun) Empire is a large group of countries or territories under the control of a single ruler or government
Example
The British Empire was once the largest empire in the world
inflation
ɪnˈfleɪʃn
ɪnˈfleɪʃ(ə)n
Definition
(noun) Inflation is a rise in the general level of prices of goods and services in an economy over a period of time
Example
The cost of living has increased due to inflation
executive
ɛɡˈzɛkjʊtɪv
ɛɡˈzɛkjədɪv
Definition
(noun) An executive is a person with a senior role in a company or organization.
Example
The executive team met to discuss the company's future plans.
affluent
ˈaflʊənt
ˈæˌfluənt
Definition
(adjective) Affluent means having a lot of money or possessions; wealthy.
Example
The affluent family had a large house and a fleet of luxury cars.
key aspects of the business
Definition
'Key aspects of the business' means the most important parts of a business.
Example
The CEO was involved in key aspects of the business such as marketing and finance.
ton of legitimacy
Definition
'A ton of legitimacy' means to have a lot of credibility.
Example
The new CEO had a ton of legitimacy due to her impressive track record.
expanded
ɛkˈspandɪd
ɪkˈspændəd
Definition
(verb) To increase in size, volume, quantity, or scope.
Example
The European company has also expanded its operations to Asia.
red carpet
ˌrɛd ˈkɑːpɪt
Definition
(noun) A long, red carpet that is used to welcome or honor important guests or celebrities at special events.
Example
She walked down the red carpet at the movie premiere.
awkward
ˈɔːkwəd
ˈɔkwərd
Definition
(adjective) causing or feeling embarrassment or inconvenience
Example
She felt awkward when she accidentally spilled her drink at the party.
loosening
ˈluːsənɪŋ
Definition
(noun) The act of making something less tight or restrictive.
Example
The loosening of regulations allowed for more economic growth.
surge
səːdʒ
sərdʒ
Definition
(noun) A sudden and significant increase or rise in something.
Example
There was a surge in sales after the new product launch.
flush
flʌʃ
fləʃ
Definition
(adjective) having an abundant supply of money or resources
Example
After winning the lottery, he was flush with cash and could afford anything he wanted.
boosted
ˈbuːstɪd
Definition
(verb) To increase or improve something, especially in terms of value, success, or confidence.
Example
The new marketing campaign boosted sales by 20%.
minted
ˈmɪntɪd
ˈmɪn(t)əd
Definition
(adjective) Newly created or appointed
Example
After years of hard work, John became the newly minted professor of physics at the university.
drop
drɒp
drɑp
Definition
(verb) To fall or decrease in value, amount, or level.
Example
The price of oil dropped significantly last week.
net worth
Definition
(noun) Net worth is the total value of a person's assets minus their liabilities
Example
The net worth of Bill Gates is estimated to be around $130 billion
acquisition
ˌakwɪˈzɪʃn
ˌækwəˈzɪʃ(ə)n
Definition
(noun) An acquisition is the purchase of one company by another
Example
Google's acquisition of YouTube in 2006 was one of the largest in history
majority shareholder
Definition
(noun) A majority shareholder is a person or company that owns more than 50% of the shares in a company
Example
Warren Buffett is the majority shareholder of Berkshire Hathaway
holding company
ˈhoʊldɪŋ ˌkəmp(ə)ni
Definition
(noun) A holding company is a company that owns other companies.
Example
Berkshire Hathaway is a holding company that owns several large companies
rubbing shoulders
Definition
Rubbing shoulders means to be in the same social circle as someone, usually someone famous or important.
Example
if you attend a party with a celebrity, you could say you were rubbing shoulders with them.
the first word in luxury
Definition
The first word in luxury means that something is the best or most luxurious of its kind.
Example
if a car is the most expensive and luxurious car on the market, you could say it is the first word in luxury.
tabloid mainstay
Definition
A tabloid mainstay means someone who is often featured in tabloid magazines.
Example
if a celebrity is always in the news and featured in magazines, you could say they are a tabloid mainstay.
modus operandi
Definition
Modus operandi means a particular way of doing something.
Example
if a company always follows the same process when launching a new product, you could say it is their modus operandi.
built up this company from scratch
Definition
'Built up from scratch' means to create something from nothing.
Example
The entrepreneur built up her business from scratch and now it is a multi-million dollar company.
in part
Definition
In part means partially or to some degree. In the given context, it means that global wealth is rising to some degree because of something.
Example
the rise in global wealth could be in part because of increased investment in technology.
mogul
ˈməʊɡl
ˈmoʊɡ(ə)l
Definition
(noun) Mogul is a powerful and influential person, especially in business or industry
Example
Jeff Bezos is a tech mogul who founded Amazon
succession
səkˈsɛʃn
səkˈsɛʃ(ə)n
Definition
(noun) Succession is the process of someone taking the place of another person in a job or position of power
Example
The Queen's eldest son will take the throne upon her succession
wave
weɪv
weɪv
Definition
(noun) A wave is a large amount of something that happens suddenly and is then followed by a period of calm
Example
The internet has seen a wave of new users in the past year
recession
rɪˈsɛʃn
rəˈsɛʃ(ə)n
Definition
(noun) A recession is a period of temporary economic decline during which trade and industrial activity are reduced
Example
The global economy is in a recession due to the pandemic
stake
steɪk
steɪk
Definition
(noun) A stake is an amount of money invested in a company or business venture
Example
The company's founders each have a 25% stake in the business
chairman
ˈtʃɛːmən
ˈtʃɛrmən
Definition
(noun) A chairman is the person who is in charge of a company or organization
conglomerate
kənˈɡlɒm(ə)rət
kənˈɡlɑmərət
Definition
(noun) A conglomerate is a large corporation made up of several smaller companies that operate in different industries
Example
The Walt Disney Company is a media conglomerate that owns several television networks and movie studios
empire
ˈɛmpʌɪə
ˈɛmˌpaɪ(ə)r
Definition
(noun) Empire is a large group of countries or territories under the control of a single ruler or government
Example
The British Empire was once the largest empire in the world
inflation
ɪnˈfleɪʃn
ɪnˈfleɪʃ(ə)n
Definition
(noun) Inflation is a rise in the general level of prices of goods and services in an economy over a period of time
Example
The cost of living has increased due to inflation
executive
ɛɡˈzɛkjʊtɪv
ɛɡˈzɛkjədɪv
Definition
(noun) An executive is a person with a senior role in a company or organization.
Example
The executive team met to discuss the company's future plans.
affluent
ˈaflʊənt
ˈæˌfluənt
Definition
(adjective) Affluent means having a lot of money or possessions; wealthy.
Example
The affluent family had a large house and a fleet of luxury cars.
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Review vocabulary
There are 19 words we want to focus on for this video.
Reviewing these words will help you complete the gaps correctly.
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19
holding company
ˈhoʊldɪŋ ˌkəmp(ə)ni
Definition
(noun) A holding company is a company that owns other companies.
Example
Berkshire Hathaway is a holding company that owns several large companies
red carpet
ˌrɛd ˈkɑːpɪt
Definition
(noun) A long, red carpet that is used to welcome or honor important guests or celebrities at special events.
Example
She walked down the red carpet at the movie premiere.
empire
ˈɛmpʌɪə
ˈɛmˌpaɪ(ə)r
Definition
(noun) Empire is a large group of countries or territories under the control of a single ruler or government
Example
The British Empire was once the largest empire in the world
majority shareholder
Definition
(noun) A majority shareholder is a person or company that owns more than 50% of the shares in a company
Example
Warren Buffett is the majority shareholder of Berkshire Hathaway
stake
steɪk
steɪk
Definition
(noun) A stake is an amount of money invested in a company or business venture
Example
The company's founders each have a 25% stake in the business
chairman
ˈtʃɛːmən
ˈtʃɛrmən
Definition
(noun) A chairman is the person who is in charge of a company or organization
expanded
ɛkˈspandɪd
ɪkˈspændəd
Definition
(verb) To increase in size, volume, quantity, or scope.
Example
The European company has also expanded its operations to Asia.
acquisition
ˌakwɪˈzɪʃn
ˌækwəˈzɪʃ(ə)n
Definition
(noun) An acquisition is the purchase of one company by another
Example
Google's acquisition of YouTube in 2006 was one of the largest in history
minted
ˈmɪntɪd
ˈmɪn(t)əd
Definition
(adjective) Newly created or appointed
Example
After years of hard work, John became the newly minted professor of physics at the university.
loosening
ˈluːsənɪŋ
Definition
(noun) The act of making something less tight or restrictive.
Example
The loosening of regulations allowed for more economic growth.
mogul
ˈməʊɡl
ˈmoʊɡ(ə)l
Definition
(noun) Mogul is a powerful and influential person, especially in business or industry
Example
Jeff Bezos is a tech mogul who founded Amazon
flush
flʌʃ
fləʃ
Definition
(adjective) having an abundant supply of money or resources
Example
After winning the lottery, he was flush with cash and could afford anything he wanted.
affluent
ˈaflʊənt
ˈæˌfluənt
Definition
(adjective) Affluent means having a lot of money or possessions; wealthy.
Example
The affluent family had a large house and a fleet of luxury cars.
awkward
ˈɔːkwəd
ˈɔkwərd
Definition
(adjective) causing or feeling embarrassment or inconvenience
Example
She felt awkward when she accidentally spilled her drink at the party.
boosted
ˈbuːstɪd
Definition
(verb) To increase or improve something, especially in terms of value, success, or confidence.
Example
The new marketing campaign boosted sales by 20%.
recession
rɪˈsɛʃn
rəˈsɛʃ(ə)n
Definition
(noun) A recession is a period of temporary economic decline during which trade and industrial activity are reduced
Example
The global economy is in a recession due to the pandemic
wave
weɪv
weɪv
Definition
(noun) A wave is a large amount of something that happens suddenly and is then followed by a period of calm
Example
The internet has seen a wave of new users in the past year
conglomerate
kənˈɡlɒm(ə)rət
kənˈɡlɑmərət
Definition
(noun) A conglomerate is a large corporation made up of several smaller companies that operate in different industries
Example
The Walt Disney Company is a media conglomerate that owns several television networks and movie studios
inflation
ɪnˈfleɪʃn
ɪnˈfleɪʃ(ə)n
Definition
(noun) Inflation is a rise in the general level of prices of goods and services in an economy over a period of time
Example
The cost of living has increased due to inflation
net worth
Definition
(noun) Net worth is the total value of a person's assets minus their liabilities
Example
The net worth of Bill Gates is estimated to be around $130 billion
succession
səkˈsɛʃn
səkˈsɛʃ(ə)n
Definition
(noun) Succession is the process of someone taking the place of another person in a job or position of power
Example
The Queen's eldest son will take the throne upon her succession
drop
drɒp
drɑp
Definition
(verb) To fall or decrease in value, amount, or level.
Example
The price of oil dropped significantly last week.
surge
səːdʒ
sərdʒ
Definition
(noun) A sudden and significant increase or rise in something.
Example
There was a surge in sales after the new product launch.
executive
ɛɡˈzɛkjʊtɪv
ɛɡˈzɛkjədɪv
Definition
(noun) An executive is a person with a senior role in a company or organization.
Example
The executive team met to discuss the company's future plans.
Review complete!
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