Here’s what we have for you today:
• Unrivaled fashion magnate
• Fizzing sugar water
• Alphabet CEO’s pay
World’s richest man Bernard Arnault
The history: In the late 1980s, Bernard spent $2.6 billion buying up shares in order to become the company’s largest shareholder, and eventually its chairman and CEO, by 1989.
Cheerful memoir: Steve Jobs once said to Bernard: “You know, Bernard, I don’t know if in 50 years my iPhone will still be a success but I can tell you, I’m sure everybody will still drink your Dom Pérignon.”
His worth: As of 2023, Bernard owns a 97.5% stake in Christian Dior, which controls 41.4% of LVMH. His fashion empire’s current net worth is well above $200 billion.
Soft drink companies battling it out
Coke on high: Coca-Cola has turned its attention to its other core brand, Sprite. That’s a soda so popular that Pepsi has tried multiple brands to capture some of its success (such as Slice, Storm, and Sierra Mist).
Pepsi jolts: Recently, the number two soft drink company killed its Sierra Mist brand. Its most recent stand against Sprite is to introduce Starry, yet another lemon-lime soda.
Coke plays along: Coca-Cola does not necessarily have to answer Pepsi’s move as Sprite remains the dominant player in the space, but it has answered its rival’s new attempt to compete by introducing a new take on its classic “limon” soda.
Alphabet CEO Sundar Pichai
Sweeping cash: Sundar’s total compensation jumped to nearly $226 million in 2022, mainly due to a triennial stock grant, according to a recent filing with the US SEC. This stock award, which was given to him in 2019 and vested last year, amounts to $218.04 million.
Previous to 2023: His annual base salary was $2 million as in the previous two years. His compensation also includes nearly $6 million for his personal security. In 2021, his full pay package was $6.3 million and $7.4 million in 2020.
His management: While the Microsoft-Alphabet rivalry is the new corporate tech war. Under Sundar’s direction; Google retaliated by launching their own internal artificial intelligence system against Microsoft.
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