Louis Vuitton’s Bernard Arnault becomes the richest person in the world

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Bernard Arnault, the 72 years old French fashion tycoon, beat Jeff Bezos and globally turn into the richest person in the world.

The world officially get a new richest person: the chairperson and chief executive of the world’s dominating fashion brand LVMH(Louis Vuitton Moet Hennessy). For a number of years, American billionaries specially in the technology sector have dominated the ranking of world’s richest people. But in this year 2021, Arnault’s rise into high peak surpassing Amazon’s founder Jeff Bezos and Tesla owner Elon Musk, is remarkable for everyone.

RankName CountryNet worth(August 10,2021)
1Bernard AurnaultFrance$199.2 billion
2Jeff BezosUnited states$192.7billion
3Elon MuskUnited states$183.7 billion

Source:Forbes’  Real-Time Billionaire Tracker (Data as of 10th August,2021)

Arnault is not the new name in the ranking of world’s wealthiest people,but he has been a billionaire for well over a decade and has been on of the top five richest people since 2018.

Bernard Aurnault command an empire of 70 iconic luxury brands including Louis Vuitton, Bulgari, Givenchy, Dom Perignon, Fendi, Marc Jacobs, Sephora, Loro Piana, Nicholas Kirkwood, Thomas Pink, RM Williams, EDUN, Moynat, and Donna Karen. He owns a 96.5 percent stake in Christian Dior, which controls 41 percent of LVMH. He also expanses retail and hospitality industries.

Arnault, the French tycoon enter into fashion area by purchasing Christian Dior in 1985. He has been the leader of LVMH since 1989, after becoming the major shareholder of the company.

The surprising part is, when maximum of the company and businessman have been suffering with their earning potential during COVID-19 pandemic, LVMH is flourishing as the company has been kept up by strong sales in Asia-especially China.

In January 2021, LVMH has done a deal for Tiffany & Co for nearly $16 billion,that is perhaps the largest luxury brand achievement in history.

References:image from www.celebritynetworth.com

www.visualcapitalist.com

www.hindustantimes.comK

Khadiza Sharmin (TFD 45, ID: 2019-1-6-015)

 

2 COMMENTS

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