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Louis Vuitton's owner Bernard Arnault overthrows Jeff Bezos, Elon Musk; Becomes the world's RICHEST man
CEO and owner of French luxury group LVMH, Bernard Arnault's estimated net worth is reportedly at 186.3 billion USD! Read on to know more.
In the last few months, luxury French company LVMH (Louis Vuitton Moet Hennessy) saw roaring sales after the pandemic. The stock price has soared over the last few months and in November, Arnault became the world's second-richest person, quickly gaining ground on Jeff Bezos, who has taken over the top spot.
According to Forbes, Arnault's current net worth is a whopping 186.3 Billion USD, which puts him above Bezos' estimated net worth which is currently at 186 Billion USD. Elon Musk, the founder of Tesla, takes the third place with 147 Billion USD.
Arnault's LVMH empire has 70 luxury brands in it including Louis Vuitton and Sephora, stakes in Dior and even acquired iconic jewellery brand Tiffany & Co. early last year.
In only the first quarter of 2021, LVMH recorded an income of 16,7 Billion USD, giving it a strong recovery after the pandemic struck. After Amazon's stock dipped by 1% on Friday and took off 2.3 Billion USD from Bezos's net worth, Arnault took his spot!
Most sales of the brands have been recorded in the United States and China, ensuring the brand made profits soon after the pandemic hit. The brands owned by LVMH are also a popular choice among internationally renowned celebrities who swear by the bags, shoes, outfits, makeup and more.
What are your thoughts on this news? Have you purchased any LVMH items since the pandemic hit? Comment below and let us know.
