The fortune of the world’s richest person, Frenchman Bernard Arnault, rose by $12 billion last Thursday to $210 billion.
The day of this announcement, French demonstrators tried to access his office in protest, according to the “New York Post”. Bernard Arnault, 74, has been targeted, as President Emmanuel Macron recently tried to push back the retirement age from 62 to 64 to ensure the sustainability of the pension system.
However, demonstrators demand that billionaires pay more.
Bernard Arnault, CEO and Chairman of LVMH, now outstrips the fortune of the second richest in the world, Elon Musk by nearly $30 billion. Amazon founder Jeff Bezos is the third richest in the world at $126 billion, according to Bloomberg.
Arnault’s latest increase in wealth came as shares of LVMH hit a record high in Paris on Thursday. The company reported an increase in sales caused by China’s economic reopening, a first since the COVID-19 pandemic. Brands owned by LVMH include Tiffany & Co., Christian Dior, Fendi and Louis Vuitton.