Chief Executive of LVMH (Louis Vuitton Moët Hennessy) Bernard Arnault is now the world’s richest person after a sharp rise in the company’s stock.
According to Forbes, as of Monday morning, Arnault has an estimated net worth of $186.3 billion [€153.6 billion]. That’s $300 million [€247.4 million] more than Jeff Bezos, who is worth $186 billion [€153.4 billion], and Elon Musk, worth $147.3 billion [€121.5 billion].
Arnault’s value has more than doubled since March 2020. 15 months ago, his fortune stood at $76 billion [€62.6 billion], seeing a $110.3 billion [€90.9 billion] increase.
LVMH also owns landmark brands such as Fendi, Christian Dior and Givenchy. The luxury goods company rose 0.4% during the initial few hours of trading on Monday, with its market cap at $320 billion [€264 billion]. The French fashion pioneer’s sole stake increased by more than $600 million [€494.9 million] in this time.
Amazon CEO Bezos returned to the top spot of Forbes real-time billionaire tracker later on Monday. Although as of the time of this report, Arnault reclaimed the number one place with a $1.8 billion [€1.4 billion] difference between the two.