With Amazon’s Jeff Bezos’ net worth dropping $13.9 billion in a day, Bernard Arnault, the chairman and CEO of French luxury company LVMH Mot Hennessy – Louis Vuitton, became the world’s richest person.
Bernard Arnault had previously led the list of the wealthiest people in December 2019, January 2020, May 2021, and July 2021. Givenchy, Guerlain, Marc Jacobs, Sephora, Tiffany & Co., Emilio Pucci, Fendi, Loro Piana, Nicholas Kirkwood, Thomas Pink, R.M Williams, EDUN, Moynat, and Donna Karen all fall under Bernard Arnault’s LVMH empire, which also includes TAG Heuer, De Beers, and Bulgari. Arnault holds a 96.5 percent stake in Christian Dior, which owns 41% of LVMH.
Bloomberg reported that he spent $538 million in recent months buying shares of the world’s largest luxury goods company. The CEO purchased the stock through firms he and his family own. The premium brand is posting sales figures similar to pre-pandemic levels in Asia and the United States. The U.S. and Europe are LVMH’s top markets for its handbags and booze.
LVMH’s sales are also surging as China’s economy recovers from the COVID-19 epidemic. Meanwhile, Jeff Bezos’ net worth plummeted by $13.9 billion last week after Amazon’s stock market plunged 7% after it reported second-quarter growth that fell short of expectations. Here is the Forbes Real-Time Billionaires list of the world’s wealthiest people:
- Bernard Arnault: $195.4 billion
- Jeff Bezos: $192.4 billion
- Elon Musk: $179.4 billion
- Bill Gates: $131.6 billion
- Mark Zuckerberg: $128.2 billion
- Larry Page: $115.2 billion
- Larry Ellison: $112.6 billion
- Sergey Brin: $111.5 billion
- Warren Buffett: $101.0 billion
- Francoise Bettencourt Meyers: $92.0 billion
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