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Bernard Arnault ascended the throne of the richest people in the world

The Frenchman even surpassed Elon Musk’s top three by $ 39 billion. On Monday, he became the richest man in the world. The RTT News website informed about it.

Arnault’s net worth has grown massively in the last fourteen months, by $ 110 billion. This growth is mainly attributed to the success of LVMH achieved despite the pandemic. In January, the group completed the acquisition of US jewelry manufacturer Tiffany & Co for $ 15.8 billion. The conglomerate, which owns more than 70 fashion brands, reported sales of $ 14 billion in the first quarter.

LVMH, which owns design brands such as Fendi, Christian Dior and Givenchy, saw a 0.04 percent increase after Monday’s market opening, increasing Arnault’s assets by $ 600 million. Like other luxury fashion chains Chanel, Kering Group and L’Oréal, which doubled their wealth during the same period, LVMH increased its market value to $ 320 billion.

However, Bloomberg’s ranking of the world’s rich does not consider Bernard Arnault to be the richest man in the world. According to him, Jeff Bezos remains in the first place with a net worth of $ 190 billion. Bernard Arnault is in third place behind Elon Musk with a net worth of $ 167 billion.

While the news of the new richest man in the world was published, a new richest person appeared in Australia. The richest person there is Gina Rinehart with her personal net worth over $ 31 billion. With rising commodity prices, it reached the top of the Financial Review Rich List 2021, where its personal assets rose by $ 2.2 billion in just six months, reaching a record $ 31.06 billion. This was stated by the Australian television network Nine News.

The richest Frenchman has invested over twenty billion in the reconstruction of the department store


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