VMH’s Chairman and CEO, Bernard Arnault recently became the richest man in the world, as per Forbes.

At an estimated net worth of more than $207 billion, Bernard Arnault surpassed Elon Musk to top the charts of the world’s richest persons.

1. Have long-term vision in life

Bernard Arnault once revealed how he first visited China in 1991, and while the country’s GDP was quite low they decided to open their first Louis Vuitton store there. Now, decades later, Louis Vuitton is the top luxury brand there and in the world. “I remember the first time I visited China, in 1991…I arrived in Beijing—I saw no cars, only bicycles, no tall buildings. The GDP was 4% of what it is today. Nonetheless, we decided to open our first Louis Vuitton store in China. Today Louis Vuitton is the number one luxury brand in the country and across the world.  We have been seeing for the past 25 years a growing desire for high-quality products and an acceleration of buying power,” Arnault told Forbes in an earlier interview.

Instead of just focusing on the profits, Arnault believes that one should stay connected with their company and employees and know what is happening at the grass root level. This will give them a better picture of the overall workings in the team and company, and help them improvise.