LVMH CEO Bernard Arnault arrives to present the group’s 2018 results during a conference in Paris
Louis Vuitton Moet Hennessy (LVMH) chairman Bernard Arnault has overtaken Amazon founder Jeff Bezos to become the world’s richest person. According to the Forbes real-time billionaires list, the French businessman has a net worth estimated at $198.9 billion.
Arnault had previously become the world’s richest person in December 2019, January 2020 and May 2021.
As per the latest rankings, Bezos had a net worth of $194.9 billion while Elon Musk was at the third position. Tesla and SpaceX chief Musk has an estimated net worth of $185.5 billion.
Arnault overtook Elon Musk when the company reported 14 euro billion in revenue in the first quarter of 2021, a 32 percent increase compared to the first quarter of 2020.
LVHM comprises 70 brands, including Louis Vuitton, Sephora, Tiffany & Co., Stella McCartney, Gucci, Christian Dior and Givenchy, which are independently managed and operated under the LVMH umbrella.
Read also: Jeff Bezos offers NASA $2 billion rebate for manned lunar lander mission
Read also: Jeff Bezos travels to the edge of space in Blue Origin’s New Shepard rocket. See Breathtaking Photos
.