Bernard Arnault heads the list of the world’s richest people

French fashion mogul Bernard Arnault has become the richest person in the world, with a net worth of $186.3 billion, overtaking Jeff Bezos, founder of Amazon, and Elon Musk, founder of SpaceX.

Bezos’ fortune is $186 billion, while Elon Musk’s fortune is estimated at $147.3 billion. According to Forbes magazine.

In March 2020, Arnault’s fortune jumped from $76 billion to $186.3 billion, a significant increase of more than $110 billion in the past 14 months.

The value of his luxury group Louis Vuitton Moy Hennessy (LVMH), which also owns household names such as Fendi and Christian Dior Givenchy, rose 0.4 percent in the early hours of trading on Monday to reach a market value of $320 billion, and Arnault’s personal share rose More than 600 million dollars.

Who is Bernard Arnault?

Bernard Jean-Etienne Arnault was born on March 5, 1949 in Roubaix, France, according to the BBC.

His father is industrialist Jean-Léon Arnaud and his mother is Marie-Joseph Savenel, daughter of Etienne Savenel, who entrusted her husband with running his civil engineering firm Feret Savenel, and his mother was a Dior fan.

Arnault joined his father’s company after college and started with plans to expand and grow the company in 1976 and launched into the business world.

He founded the Louis Vuitton Moy Hennessy Group (LVMH) and became the Group Chairman and CEO.

In 2017, Arnault fully acquired the Christian Dior brand through his luxury goods company LVMH in a $13 billion deal.

He united a 70-year-old brand worn by movie stars such as Grace Kelly, Elizabeth Taylor, Jennifer Lawrence and Natalie Portman with the Christian Dior perfume and cosmetics sectors that were already owned by his group.

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Arnaud was married twice, and had a son and a daughter by his first wife, Anne Deuverne, and his second wife, Helen Mercier, a pianist, and they had three children.

Arnault and his group represent the remarkable rise of luxury fashion houses in Europe during the lockdown period.

And the “BBC” quoted Flavio Creda, an analyst at Jefferies, that this resurgence is behind the “momentum” of shoppers in China, where the LVMH Group recorded revenues of $ 17 billion for the first quarter of 2021, an increase of 32 percent compared to the same period. from the year 2020.

From March 18, 2020, to Monday, the net worth of rival Francois Pinault, whose Kering Group owns luxury brands Yves Saint Laurent, Alexandre McCain and Gucci, rose from $27 billion to $55.1 billion.

Arnault has been in the top five since 2018, and became the third richest person in 2019 with an estimated fortune of $76 billion. He even overtook Bezos to briefly become the world’s richest person around 10:30 a.m. EDT on December 16. December of 2019, when he overtook Bezos. Amazon stock eventually closed higher, pushing the French billionaire to second place.

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