Louis Vuitton chief Bernard Arnault overtakes Jeff Bezos to become world’s richest – Times of India
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NEW DELHI: Louis Vuitton chairman Bernard Arnault has surpassed Amazon founder Jeff Bezos to become the world’s richest person, according to Forbes real-time billionaires list.
With a total net worth of $199.9 billion, Arnault now tops the billionaires list ahead of Bezos whose net worth stood at $194.9 billion. While Tesla and SpaceX chief Elon Musk is placed third with a net worth of $185.5 billion.
The Louis Vuitton chief had earlier become the world’s richest person in December 2019, January 2020 and May 2021.
LVMH — home to Louis Vuitton, Moet, Fendi, and Kenzo brands among others — saw first-half sales climb by 11 per cent above their pre-pandemic level to 28.7 billion euros ($34.1 billion) as it reported a profit of 5.3 billion euros, a whopping 64 per cent increase from 2019.
Arnault had surpassed the Tesla chief when the company reported its first-quarter revenue of 14 euros billion in 2021, which surged by 32 per cent as compared to the first quarter of 2020.
In January 2021, LVMH completed a deal for American jeweler Tiffany & Co for $15.8 billion, believed to be the biggest luxury brand acquisition ever, according to Arnault’s bio in Forbes.
The company had also spent $3.2 billion in 2019 for luxury hospitality group, Belmond, which owns or manages 46 hotels, trains and river cruises.
Bernard Arnault oversees an empire of 70 brands including Louis Vuitton and Sephora.
(With inputs from agencies)
With a total net worth of $199.9 billion, Arnault now tops the billionaires list ahead of Bezos whose net worth stood at $194.9 billion. While Tesla and SpaceX chief Elon Musk is placed third with a net worth of $185.5 billion.
The Louis Vuitton chief had earlier become the world’s richest person in December 2019, January 2020 and May 2021.
LVMH — home to Louis Vuitton, Moet, Fendi, and Kenzo brands among others — saw first-half sales climb by 11 per cent above their pre-pandemic level to 28.7 billion euros ($34.1 billion) as it reported a profit of 5.3 billion euros, a whopping 64 per cent increase from 2019.
Arnault had surpassed the Tesla chief when the company reported its first-quarter revenue of 14 euros billion in 2021, which surged by 32 per cent as compared to the first quarter of 2020.
In January 2021, LVMH completed a deal for American jeweler Tiffany & Co for $15.8 billion, believed to be the biggest luxury brand acquisition ever, according to Arnault’s bio in Forbes.
The company had also spent $3.2 billion in 2019 for luxury hospitality group, Belmond, which owns or manages 46 hotels, trains and river cruises.
Bernard Arnault oversees an empire of 70 brands including Louis Vuitton and Sephora.
(With inputs from agencies)
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