Fashion Mogul Beats Bezos, Musk, to Become World’s Richest Man

In recent times, we have seen most billionaires from the technological space; everyone thought you had to be a techie to become the richest man on planet earth. Fashion Mogul and CEO of Louis Vuitton Bernard Arnault has challenged this stereotype by beating Bezos and Musk to the world’s richest position.

Bernard Arnault, the CEO of luxury group LVMH (Louis Vuitton Moet Hennessy) that also owns names like Fendi, Christian Dior and Givenchy. A sudden rise in the stock prices of LVMH, Bernard Arnault briefly overtook Amazon head Jeff Bezos as the richest man in the world on Monday.

In that period, Arnault had a net worth of an estimated $186.3 billion, which was $300 million above Jeff Bezos.Elon Musk comes in third with $152.5 billion, followed by Bill Gates with $126 billion, and Mark Zuckerberg with $117.7 billion. The richest woman is L’Oreal head Francoise Bettencourt Meyers who has a net worth of $88 billion along with her family. She ranks 11th in the list.

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According to Business Today, the French fashion tycoon made his recent fortune from the pandemic-defying performance by luxury group LVMH (Louis Vuitton Moet Hennessy) that also owns names like Fendi, Christian Dior and Givenchy. Arnault’s fortune jumped from $76 billion in March 2020 to $186.3 billion on Monday — a rise of over $110 billion in 14 months.

LVMH rose 0.4 per cent during the initial trading hours on Monday, taking its market cap to $320 billion and pushing Arnault’s fortune by more than $600 million.

Congrats to Bernard Arnault. What a feat!

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