Dharamshala, 6th August: Bernard Arnault, Chairman of Louis Vuitton Moet Hennessy (LVMH), has surpassed Amazon founder Jeff Bezos as the world’s richest person. According to Forbes Real-Time Billionaires List, the French business tycoon’s net worth is $198.9 billion.
This accomplishment had previously been accomplished by Arnault in December 2019, January 2020, May 2021, and July 2021. Meanwhile, Bezos has a net worth of $194.9 billion, while Elon Musk, the CEO of Tesla and SpaceX, has a net worth of $185.5 billion.
In recent months, Arnault spent $538 million on shares in his own French label company, which he and his family own. When the company reported first-quarter revenue of €14 billion in 2021, up 32 percent from the first quarter of 2020, he surpassed Elon Musk, the founder of Space X and Tesla.
Under the LVMH umbrella, 70 brands are managed and operated autonomously, including Louis Vuitton, Sephora, Tiffany & Co, Stella McCartney, Gucci, Christian Dior, and Givenchy.
Image: Reuters
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