Loius Vuitton CEO Bernard Arnault becomes the richest person in the world leaving behind Tesla owner Elon Musk who was the richest person in the world. Due to the falling of the shares in the large sum of Tesla company owner Elon Musk Bernard Arnault has replaced Elon Musk as the richest person in the world.
According the Blomberg Billionaires Index, Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy Louis Vuitton became the world’s richest man with a net worth of $188.6 billion, surpassing Twitter’s new boss Elon Musk who ranks second on Forbes list with total net worth of $178.6 billion.
Bernard Arnault is the co-founder, chairman, and chief executive of LVMH Moet Hennessy – Louis Vuitton SE, the world’s largest luxury goods company. He has the World’s Costliest Fashion brands running by the company.
Bernard Arnault was born in Northern France town Roubaix. He graduated from the elite engineering school École Polytechnique. He worked for the Ferret Savinel family firm before going to the US in 1981 and starting a career in real estate development.
Mr. Arnault returned to France in 1984, and bought the company named Boussac Saint-Freres, the bankrupt textile group that owned Christian Dior. 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.
Through the decades, Arnault turned LVMH into a luxury behemoth selling Champagne, wine, spirits, fashion, leather goods, watches, jewellery, hotel stays, perfume, and cosmetics through more than 5,500 stores worldwide.