World Richest Person: Fashion tycoon and owner of luxury fashion brand Louis Vuitton Bernard Arnault has become the richest person in the world. He has surpassed Amazon founder Jeff Bezos and Tesla CEO Elon Musk.
The fashion tycoon has topped the Forbes Real-Time Billionaires List. Arnault’s net worth increased to a record $482 million and his net worth stood at $199.1 billion as of Thursday. At the same time, the net worth of Bezos is $ 193.8 billion, while as of Thursday the owner of Tesla was $ 184.7 billion.
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The 72-year-old billionaire is the owner of the world’s leading fashion brand Louis Vuitton Moet Hennessy, LVMH, which has a total of 70 brands. These brands include Louis Vuitton, Marc Jacobs, Kenzo, Stella McCartney Fendi, Christian Dior, Givenchy and Sephora.
LVMH completed an acquisition deal with American jewelery brand Tiffany & Co in January 2021 for $15.8 billion, the largest ever brand acquisition. In 2019, it bought luxury hospitality group Belmond, which owns or manages 46 hotels, river cruises and trains, for $3.2 billion.
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Bernard Arnault is the owner of a family business empire. Four of their five children (Frederic, Delphine, Antoine and Alexandre) work at LVMH. Shares of LVMH rose 2.4 points to $697.10 at 1:10 p.m. Thursday, taking the company’s market cap to $352.22 billion.
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