Who is Bernard Arnault, world's richest person? Know everything about the CEO of LVMH
The 73-year-old stands at the top of both the Forbes and Bloomberg Billionaires rich lists, with a net worth of $188.6 billion and $171 billion, respectively. In the recent year, the French tycoon has remained in the top ten of the world's wealthiest list, but he was ranked lower than Amazon founder Jeff Bezos and Meta founder Mark Zuckerberg.
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FollowLouis Vuitton CEO Bernard Arnault has now surpassed Elon Musk as the world's richest person after Musk's Tesla shares fell sharply on Monday. The 73-year-old stands at the top of both the Forbes and Bloomberg Billionaires rich list with a net worth of $188.6 billion and $171 billion, respectively. In the recent year, the French tycoon has remained in the top ten of the world's wealthiest list, but he was ranked lower than Amazon founder Jeff Bezos and Meta founder Mark Zuckerberg.
About Bernard Arnault,
1) Bernard Arnault, born on March 5, 1949, to an industrial family in Roubaix, France, is the Chairman and CEO of LVMH Moet Hennessy, Louis Vuitton, the world's leading luxury products group. Compared to his predecessor, Musk, the 73-year-old is known to maintain a low profile.
2) Bernard Arnault graduated from the prestigious École Polytechnique. He worked at the family business, Ferret Savinel, before moving to the United States in 1981 to pursue a career in real estate development.
3) In 1984, Arnault returned to France and took over the bankrupt textile group that owned Christian Dior, Boussac Saint-Freres. Later, he spun off most of the company's other businesses and used the windfall to purchase a controlling stake in LVMH, which had merged its two main companies, Louis Vuitton and Moet Hennessy, according to Bloomberg.
4) Arnault turned LVMH into a luxury behemoth, selling Champagne, wine, spirits, fashion, leather goods, watches, jewellery, hotel stays, perfume, and cosmetics through over 5,500 stores worldwide.
5) Arnault is also an art collector, which led to the establishment of the Louis Vuitton Foundation in Paris's Bois de Boulogne in 2014. Frank Gehry designed the venue, which is a massive private art museum. It houses both LVMH's corporate collection and Arnault's.
6) Earlier this year, LVMH lifted the age limit for its CEO, allowing Arnault to stay in charge until the age of 80, indicating that he intends to remain in charge for a more extended period.
7) The 73-year-old has long been a fixture in wealth rankings; however, he makes only a few public appearances and isn't active on social media.
8) According to Bloomberg's wealth index estimates, the vast majority of Arnault's fortune stems from his 97.5 per cent stake in Christian Dior, which controls approximately 41 per cent of LVMH. The family has an additional 6 per cent stake in LVMH.
9) According to Forbes, Arnault and his family have a net worth of US $188.6 billion as of December 2022.
10) He has five children from two marriages, all working for LVMH or one of its brands. Antoine Arnault, Arnault's second child, recently received a promotion at the holding company Christian Dior SE.
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