$LVMH was born in a tough economy under a rubbish socialist government, but the worst times allowed them to acquire the best brands in the world and build an empire through every single economic crash.

Many brands struggle when interest rates are high; they fight to survive, their revenue stagnates, and their stock prices might plummet. Meanwhile, Bernard is sitting on his cash reserves, ready to buy these brands.

When the world is struggling to eat, the old man is sitting in his yacht, checking his Robinhood account, poised to buy luxury brands that are down 90% or more.

Nothing to buy? Fine, he'll buy his own shares. Something to buy? Fine, he'll buy another company, and another CEO will end up working at Wendy's.