Louis Vuitton's Bernard Arnault With Networth Of $199B Surpasses Jeff Bezos As The World's Richest Person
According to Forbes Real-Time Billionaires List, Arnault had a net worth of $199.1 billion on Thursday. Meanwhile, Bezos' real-time net worth stood at $193.8 billion, while that of Musk was $184.7 billion
Amazon founder Jeff Bezos' reign as the world's richest person has ended after Bernard Arnault, Chairman and Chief Executive of LVMH Moet Hennessy Louis Vuitton, surpassed him to take the top spot.
According to Forbes Real-Time Billionaires List, Arnault had a net worth of $199.1 billion on Thursday. Meanwhile, Bezos' real-time net worth stood at $193.8 billion, while that of Musk was $184.7 billion.
LVMH
Arnault, 72, is one of the leading authorities in fashion around the world. The billionaire runs LVMH Mo?t Hennessy Louis Vuitton, the world leader in luxury goods. The company oversees 70 brands, including Louis Vuitton, Mo?t, Fendi, Christian Dior, Givenchy and Sephora.
The group's reported 10-fold increase on annual basis in its bottom-line net profit soared at 5.3 billion euros ($6.3 billion) between January and June this year.
Credit: Romuald Meigneux
His net worth took a giant leap after LVMH completed a deal with American jeweller Tiffany & Co in January 2021 for $15.8 billion, which is believed to be the biggest luxury brand acquisition ever.
In 2019, LVMH completed the acquisition of luxury hospitality group Belmond, which owns or manages 46 luxury hotels, restaurants, trains and river cruises.
Meanwhile, Jeff Bezos' net worth suffered a hit last week as Amazon shares fell after reporting second quarter earnings.
Both billionaires went back and forth for the top spot on the Forbes rich list between May and June.
