Beauty Business Career Fashion Money Shopping

Bernard Arnault, owner of Louis Vuitton, beats Jeff Bezos; becomes the richest man in the world

French fashion magnate, Bernard Arnault is now the world’s richest man after his net worth climbed to $186.3billion.

The chief executive of Moët Hennessy Louis Vuitton (LVMH) saw his luxury goods firm stock increase by 0.4 per cent during the first hours of trading on Monday, May 24.

Bernard Arnault
The rise pushed Arnault’s personal stake up by more than $600million and placed LVMH’s market cap at $320billion, according to Forbes.
Arnault’s overall net worth jumped to $186.3billion, edging past Amazon CEO Jeff Bezos, who is worth $186billion, by ‘only’ $300million in the world’s rich list.

It comes just days after Arnault pushed Elon Musk, worth $147.3billion, out of his spot as the world’s second-richest man after Tesla’s share price sank.

YOU MAY ALSO LIKE:   Elon Musk overtakes Jeff Bezos to become world's richest person

Musk dropped out of his spot as the world’s second-richest man after his fortune sank by $3.16billion last week, to $160.6billion.

Arnault, 72, has seen his fortune jump more than $110million in the past 14 months thanks to his French luxury goods firm LVMH, which owns the likes of Louis Vuitton, Fendi, Christian Dior, and Givenchy in its portfolio of 70+ luxury brands.

Kindly share this story

Similar Posts

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.