Home Trade And business Bernard Arnault heads the list of the world’s richest people

Bernard Arnault heads the list of the world’s richest people

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French fashion mogul Bernard Arnault has become the richest person in the world, with an estimated net worth of $ 186.3 billion, surpassing Jeff Bezos, founder of Amazon, and Elon Musk, founder of SpaceX.

Bezos is worth $ 186 billion, while Elon Musk’s fortune is estimated at $ 147.3 billion. According to the Forbes website.

In March 2020, Arnault’s fortune jumped from $ 76 billion to $ 186.3 billion, a significant increase, by more than $ 110 billion in the past 14 months.

The value of his luxury group Louis Vuitton Moi Hensi (LVMH)., Which also owns household names like Fendi and Christian Dior Givenchy, rose 0.4 percent in the first hours of trading on Monday, bringing its market value to $ 320 billion. More than $ 600 million.

Who is Bernard Arnault?

Bernard Jean-Etienne Arnault was born on March 5, 1949, in Roubaix, France, according to the BBC.

His father is industrialist Jean-Leon Arnaud and his mother is Marie-Joseph Savinel, daughter of Etienne Savinel, who entrusted her husband with running his civil engineering company Ferret Savinel, and his mother was fond of Dior.

Arnault joined his father’s company after graduating from college and began plans to expand and grow the company in 1976 and took off in the business world.

The Louis Vuitton Group was founded by Moi Hennessy (LVMH) and became the Chairman and CEO of the Group.

In 2017, Arnault fully acquired the Christian Dior brand through his luxury goods company LVMH as part of a $ 13 billion deal.

He thus united a 70-year-old brand of movie stars such as Grace Kelly, Elizabeth Taylor, Jennifer Lawrence and Natalie Portman with the Christian Dior perfume and cosmetics sectors that already owned his collection.

Arnault has been married twice, and has a son and daughter from his first wife, Anne Dewafrin, and his second wife, Helen Mercier, is a pianist, and they have 3 children.

Arnault and his group represent the remarkable rise of luxury fashion houses in Europe during the lockdown.

The BBC quoted Flavio Creeda, an analyst at Jeffries, as saying that this stick was behind the “momentum” of shoppers in China, where LVMH recorded revenues of $ 17 billion for the first quarter of 2021, an increase of 32 percent compared to the same period. From 2020.

From March 18, 2020 to last Monday, the net worth of rival Francois Pinault, whose Kering Group owns luxury brands Yves Saint Laurent, Alexander McCain and Gucci, rose from $ 27 billion to $ 55.1 billion.

Arnault has been in the top five since 2018, becoming the third richest person in 2019 with an estimated wealth of $ 76 billion that even surpassed Bezos to briefly become the richest person in the world at around 10:30 a.m. EST on December 16. / December of 2019, when he surpassed Bezos. Amazon eventually closed higher, pushing the French billionaire into second place.

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