Bernard Arnault Becomes The Third Person In The World To Hit $200 Billion Net Worth
The net worth of the world's richest person, Bernard Arnault, has surpassed the $200 billion mark for the first time. Bernard Arnault has become only the third person in history to hit the $200 billion net worth mark. Elon Musk and Amazon¡¯s Jeff Bezos had been the only two people to do so yet.
While Twitter and Tesla CEO Elon Musk¡¯s wealth remains on a rollercoaster, the fortune of the worlds richest person, Bernard Arnault, has been on the rise. And now, the net worth of French luxury goods maker LVMH Group¡¯s chairman has hit $200 billion for the first time.
LVMH owns brands such as Louis Vuitton, Christian Dior, and Moet & Chandon champagne.
Only The Third Person In The World To Hit $200 Billion Mark
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74-year-old Bernard Arnault has become only the third person in history to amass this mammoth amount of fortune in history. Elon Musk and Amazon¡¯s Jeff Bezos had been the only two people to hit the $200 billion mark yet.
In fact, Elon Musk had last year become the world's first person to lose $200 billion in net worth in December 2022, the same month in which Bernard replaced him as the world's richest person.
As per Forbes, Bernard Arnault currently has $228.2 billion in net worth, Elon Musk has $188.2 billion, and Jeff Bezos has $124.2 billion.
Arnault¡¯s fortune has increased by more than $37 billion this year to date, as per the Bloomberg Billionaires Index. This has been helped by shares of LVMH, which have risen more than 20% this year, thanks to soaring demand for luxury goods among the world¡¯s wealthy.
The French billionaire is currently $40 billion richer than Musk on Forbes real-time billionaires list and $27 billion richer as per the Bloomberg billionaires index.
Amazon founder Jeff Bezos was the first person to hit the $200 billion milestone in August 2020, and he is currently the world¡¯s third-richest person, with a $124 billion fortune, on Forbes list.
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Bernard Arnault is the chairman and CEO of LVMH. LVMH's shares have shot up by more than 150% in the past three years, hitting a new high of €853 on Wednesday morning, as per a Guardian report. LVMH had achieved record sales of €79.2 billion last year and has begun a €1.5 billion share buyback programme, which has helped further lift the share price.
Also Read: 10 Lesser Known Facts About World's Richest Person Bernard Arnault
What Do Arnault's Three Children Do?
Bernard Arnault had recently appointed his children to key roles within the business. In January, Arnault's eldest child, Delphine, was named the head of Christian Dior, the second-biggest brand in the empire. Her brother, Antoine, was promoted to run the holding company that controls LVMH and the Arnault family fortune.
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His three younger children also have important jobs within the world¡¯s largest luxury goods company, which includes brands such as Stella McCartney, TAG Heuer, Bulgari, and Tiffany. Alexandre Arnault is an executive at Tiffany, Fr¨¦d¨¦ric Arnault is the CEO of TAG Heuer, and their youngest sibling, Jean Arnault, heads marketing and product development for Louis Vuitton¡¯s watches division.
LVMH¡¯s record stock price follows its announcement last month that it would buy back as much as €1.5 billion (?1.3 billion) of its own shares, as per the report. The company also posted a record €79.2 billion in sales last year.
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