Trending News for Today

Louis Vuitton Owner Becomes the World’s Richest Person; Kendall Jenner Sued for $1.8 Million for Allegedly Bailing on a Modeling Shoot; Bill Gates Regrets Cheating on His Ex-Wife With a Microsoft Employee; Virgin Galactic is Now Selling Tickets With Prices Starting at $450,000; 12-Year-Old Girl was Bitten by a Sandbar Shark

Louis Vuitton Owner Bernard Arnault Becomes the World’s Richest Person Surpassing Jeff Bezos

As Louis Vuitton Moët Hennessy (LVMH), the parent company of Louis Vuitton,  stock climbs, Bernard Arnault becomes the world’s richest person. Reaching an estimated net worth of $186.3 billion, the French fashion mogul claims the throne as the world’s richest person early Monday morning, surpassing Jeff Bezos, who is worth $186 billion, and Elon Musk, who is worth $147.3 billion.

Arnault’s fortune soared from $76 billion in March 2020 to $186.3 billion on Monday, a stunning increase of more than $110 billion in just 14 months because of his luxury business LVMH’s pandemic-defying performance.

LVMH, which also owns iconic names such as Fendi, Christian Dior, and Givenchy, climbed 0.4 percent in early trading on Monday, bringing its market capitalization to $320 billion and increasing Arnault’s ownership by more than $600 million.

Arnault and his fashion house exemplify Europe’s extraordinary expansion of luxury and fashion houses during the lockdown. LVMH reported $17 billion in revenue for the first quarter of 2021, up 32% from the same time in 2020, according to Jefferies analyst Flavio Cereda.

From March 18, 2020, to Monday, rival François Pinault’s net worth increased from $27 billion to $55.1 billion. His Kering Group controls luxury brands Saint Laurent, Alexander McQueen, and Gucci. Alain and Gerard Wertheimer, the grandsons of Chanel founder Pierre Wertheimer, are now worth $35 billion, more than doubling their net worth in 2020. Even the granddaughter of L’Oréal’s founder, Francoise Bettencourt Meyers, had her fortune nearly doubled to $87.8 billion on Monday.

Americans have primarily controlled the very top of Forbes’ billionaires list over the years. For the better part of two decades, US citizens Bezos, Musk, Gates, and Buffett have held the top rank, with only Mexico’s Carlos Slim breaking their supremacy for an extended period.

Arnault has been included in the top five since 2018, having previously been ranked 11th. In 2019, he became the third-richest person in the world, with a wealth of $76 billion. He even momentarily surpassed Bezos to become the world’s richest person on December 16, 2019, at approximately 10:30 a.m. EST.

Kendall Jenner Sued for $1.8 Million for Allegedly Bailing on a Modeling Shoot

Kendall Jenner is being sued for allegedly violating a modeling contract with Liu Jo, an Italian fashion brand. The company accused Jenner of failing to attend at the second of two scheduled photoshoots for which she was to receive a total of $1.5 million plus a 20% service fee, according to a lawsuit filed Monday in a New York City court.

Liu Jo asserts Jenner, 25, shot the first photographs in July 2019, with a second shoot scheduled for March 2020 in London.

However, she was unable to travel because of the COVID-19 pandemic, although the corporation had already given her $1.35 million of the whole amount. The parties initially decided to delay the second shot until the fall.

The company then “proposed multiple alternative dates and locations,” but Jenner allegedly “repeatedly failed to provide Liu Jo with definitive responses to Liu Jo’s proposals, proposed no reasonable alternatives and ultimately turned down all of Liu Jo’s good-faith offers of compromise,” according to the documents obtained by Page Six Style.

According to a spokeswoman for The Society Management, representing Jenner, “This suit is without merit. The Society Management, on behalf of Ms. Kendall Jenner, has continually offered Liu Jo alternative dates and locations to fulfill an agreement that was forced to be delayed because of the coronavirus pandemic. Jenner has willingly offered to complete services honoring her commitments.”

Additionally, Liu Jo claims that Jenner informed them that it would be “impossible” for them to go to Italy for a September 2020 shoot, only to return for another brand’s campaign. In November, the model had a star-studded birthday celebration in Los Angeles.

According to the company, Jenner eventually “ceased responding” and made contact “only after Liu Jo informed her that it considered her in breach of the contract and that, therefore, the contract was terminated.”

They assert that they have had “no success in obtaining a refund” after paying the model for labor on two shoots.

“Liu Jo was forced to find replacement models and restructure its entire Spring/Summer 2021 photoshoot — at great expense to Liu Jo — due to Ms. Jenner’s refusal to uphold her end of the bargain,” the lawsuit states.

Bill Gates Regrets Cheating on His Ex-Wife With a Microsoft Employee Following Final Divorce Agreement

Bill Gates admitted to having an affair with a Microsoft employee just days after the former spouse finalized their divorce. On Tuesday, August 2, a judge completed Bill and Melinda’s divorce. In the agreement, which was filed in Washington’s Superior Court and obtained by E! News, the court stated that there was “no money judgment” entered and that neither Bill nor Melinda requested to change their names. Additionally, no spousal support was ordered.

Bill, who co-founded Microsoft in 1975, was probed about the affair during a Wednesday, August 4 interview on CNN’s Anderson Cooper 360, when he disclosed that he had remorse about his previous adultery but is ready to move “forward” from the events of his marriage.

“Certainly, I think everyone does [have regrets],” Bill said. “But it’s a time of reflection, and at this point, I need to go forward. My work is very important to me. Within the family, we’ll heal as best we can and learn from what happened.”

In May, a spokeswoman for Bill acknowledged to the Wall Street Journal that the Microsoft founder had an affair nearly two decades ago with an employee. Additionally, the spokesman maintained that Bill’s infidelity was not the basis for his 2020 resignation from Microsoft’s board of directors.

“There was an affair almost 20 years ago which ended amicably. Bill’s decision to transition off the board was in no way related to this matter,” the spokesperson said. “In fact, he had expressed an interest in spending more time on his philanthropy starting several years earlier.”

According to the WSJ, Microsoft’s board of directors examined Bill in 2019 after a female engineer alleged Bill sought to “initiate an intimate relationship” with her in 2020. The WSJ claimed that Microsoft executives were considering removing Bill from the board prior to his resignation.

Bill’s affair was confirmed just days after Zhe “Shelly” Wang, a lady who worked for the Bill & Melinda Gates Foundation, responded in a post on the Chinese social networking site Weibo to claims she was the reason for his divorce.

Virgin Galactic is Now Selling Tickets With Prices Starting at $450,000 for Its Commercial Sub-Orbital Flight

Virgin Galactic, boosted by the success of a July 11 sub-orbital test flight on the company’s winged rocket plane with founder Richard Branson, reopened ticket sales Thursday for space flights starting at $450,000 per seat.

However, Virgin Galactic CEO Michael Colglazier stated that commercial flights will not begin until the third quarter of 2022, following two additional test flights of the company’s VSS Unity spaceplane and extensive upgrades to Virgin Galactic’s Eve carrier jet to improve durability and turnaround times between flights.

While commercial operations will begin several months later than anticipated, the company’s results from earlier two piloted test flights, including Branson’s July 11 trip to space, indicate that Virgin Galactic is close to “completing our test flight program and launching commercial passenger service in ’22,” Colglazier said.

“And as we advance towards that goal, we are excited to announce today that we will immediately open ticket sales to our significant list of early hand-raisers, prioritizing our spacefarer community who, as promised, will be given the first opportunity to reserve their place to space,” he added.

Virgin has established a “purposeful range of product offerings in order to satisfy the different ways people want to share this experience,” he explained.

“For the private astronaut flights, our products will include a single-seat, a multi-seat couples, families, and friends package and a full-flight buyout,” he said. “Prices for this next phase of private astronaut sales will begin at $450,000 per seat. Microgravity research and professional astronaut training flights remain priced at $600,000 on a per-seat equivalent basis.”

Over 600 space enthusiasts paid down payments for flights far earlier in the program, when tickets were estimated to cost around $250,000. The prices announced Thursday are likely to be limited to new clients.

“We are not just watching history be made; we are making it happen together,” Virgin tweeted. “Thank you for joining us on this journey into the next era of space travel. We invite you to visit our website to register for updates and future ticket information.”

Virgin intends to launch its next flight, Unity 23, in late September, transporting a complement of Italian Air Force personnel before suspending operations for several months to increase the Eve carrier jet’s durability and turnaround time between flights. Simultaneously, the company intends to begin flight testing a second spacecraft, the VSS Imagine.

12-Year-Old Girl was Bitten by a Sandbar Shark in Ocean City, Officials Confirmed

The Ocean City Beach Patrol has confirmed that the shark that bit a Pennsylvania girl on vacation with her family last week was, in fact, a shark. Jordan Prushinski, 12, is recovering from a shark bite that required 42 stitches.

To define a shark attack from a shark bite, experts explained that an attack occurs when a shark bites and holds on in an attempt to eat. A bite occurs when a shark bites and then releases without inflicting significant damage, as Prushinksi did.

“I’m trying to like wanting to stay out of the water for a little while,” said Prushinski.

“She’s doing great. She was on the beach today,” said Captain Butch Arbin, Ocean City Beach Patrol.

Prushinski and her family were at the beach around 119th Street on Monday when she felt a pointy object brush up against her leg in the sea. She then noticed she was bleeding upon exiting.

“Why the shark was where it was? The experts think it was just going after food and the little girl happened to be in its way,” said Arbin.

According to OCBP, scientists from the Department of Natural Resources say the bite pattern matches that of a tiny Sandbar Shark indigenous to the area.

“This is not a shark attack. It’s not anything to be concerned about. This type of shark, sandbar shark, is not an aggressive type of shark. They see very little interaction with humans,” said Arbin.

According to experts, the chances of being bitten by a shark are exceedingly remote. Indeed, Captain Butch Arbin of the Ocean City Beach patrol stated that this is the first time this type of incident has been reported in the state.

“It’s never happened before in Maryland history. It’s never happened in Ocean City,” said Arbin.

Arbin advised beachgoers not to let this incident interfere with their enjoyment of the ocean this summer.

“They don’t need to worry about it. They should be more concerned with things like rip currents,” said Arbin.

Prushinski, on the other hand, is courageous and has stated that she will brave the sea again once her sutures are removed.

“Something like this is rare and rare for it to even happen again,” said Prushinski.