While Bill Gates and Jeff Bezos are fighting for the crown of the richest person, it looks like French billionaire Bernard Arnault will take the lead very soon.
According to Forbes, the 70-year-old French billionaire business tycoon Bernard Arnault took over Buffett and Bezos listing him as the world’s richest person with a net worth of $106.06 billion.
What are his income sources? Know more about his assets.
Bernard Arnault Is On The Verge Of Becoming Next Richest Person In The World
The French business tycoon, Bernard is the chairman and chief executive of LVMH Moet Hennessy- Louis Vuitton SE, LVMH which is the world’s largest luxury goods company.
The World’s Richest Person title has been held by American business magnate Bill Gates and Jeff Bezos. However, as of 2019, it looks like the French business mogul will be taking over the title as his net worth is growing rapidly over the past few months.
Following the gain of the iconic jewelry brand Tiffany, Bernard’s net worth gained 1% in the stock of his company on. As per sources, LVMH is paying more than $16 billion for Tiffany.
Arnault along with his family owns more than 47% of LVMH. As per Forbes’s article, Arnault added an estimated amount of $2.8 billion to his fortune over the past day. Which means his net worth increased by 2.7% to a total of $107.6 billion.
However, as per Bloomberg’s Billionaire Index, they estimated his net worth at around $103 billion, which is behind both Bezos ($109.4 billion) and Gates ($107.4 billion) making him the third richest person.
According to Celebrity Net Worth, Bernard Arnault is currently estimated at around $100 billion, whereas, Forbes accumulated it at around $107.8 billion as of 28th November 2019 i.e. today.
Arnault’s net worth crossed $100 billion for the first time in June 2019. His net worth than rose to $108 billion ($400 million ahead of Bill Gates) placing him as the second-richest person on the planet for a while.
As per reports, his net worth increased by $40 billion from January to July 2019.
Fun Fact: Arnault owns a 101.5 m yacht called Symphony which was built in the Netherlands by Feadship.
From Where Does His Billion-Dollar Fortune Come In?
Most of his fortune comes from his stakes and shares in numerous companies. His family holds a 73% stake in Christian Dior, 5.7% direct stake in LVMH, 8.4% in Hermes and Carrefour.
He also owned a stake in the winery Cheval Blanc which he sold to LVMH for 238 million euros i.e. $261,984,450 back in 2009.
Following few failed business attempts in the United States, Arnault returned to France and purchased LVHM which would eventually become one of the luxury good conglomerate consisting of big companies like Dior, Moet & Chandon, Louis Vuitton, Tiffany & Co., Marc Jacobs, Fenty (brand), Sephora, Fenty Beauty by Rihanna, and Fendi.
Short Biography On Bernard Arnault
Bernard Jean Etienne Arnault was born on 5th March 1949 in Roubaix, France to Marie-Josephe Savinel and Jean Arnault. He is French as per his nationality and has White-Caucasian descent.
He went to Lycee Maxene Van Der Meersch and the Ecole Polytechnique from where he graduated with an M.Sc. degree in 1971.
Bernard is currently married to second wife Helene Mercier on 23rd September 1991. He is blessed with four children: Frederic, Delphine, Alexandre, and Antoine Arnault.
He married his first wife Anne Dewavrin on 5th May 1973 and got divorced in 1990.