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Louis Vuitton's Bernard Arnault joins Jeff Bezos, Bill Gates in $100 billion club

Arnault, who recently overtook Warren Buffett to become the third-richest person in the world, controls about half of Paris-based LVMH, which had revenue of 46.8 billion Euros (55.3 billion) in 2018

twitter-logo BusinessToday.In   New Delhi     Last Updated: June 19, 2019  | 17:15 IST
Louis Vuitton's Bernard Arnault joins Jeff Bezos, Bill Gates in $100 billion club
French businessman Bernard Arnault is the third wealthiest person in the world

French businessman Bernard Arnault's net worth touched $100.4 billion on Tuesday, making him the third wealthiest person in the world after Amazon CEO Jeff Bezos and Microsoft co-founder Bill Gates. Arnault, the chairman and CEO of the French conglomerate of LVMH Moet Hennessy Louis Vuitton, entered the world's ultra-rich league with a fortune of at least $100 billion, according to a Bloomberg report.

France's multibillionaire saw his wealth surge from an estimated $94.7 billion to $100.4 billion after his company's shares rallied 2.9 per cent to record 368.80 Euros apiece on Tuesday.

Arnault, who recently overtook Warren Buffett to become the third-richest person in the world, controls about half of Paris-based LVMH, which had revenue of 46.8 billion Euros (55.3 billion) in 2018. LVMH is the world's largest maker of luxury goods, including Louis Vuitton leather goods, TAG Heuer watches and Dom Perignon champagne. He also holds a 97 per cent stake in French luxury goods company Christian Dior.

In April, Arnault and his family pledged $650 million to help rebuild the 800-year-old Notre Dame Cathedral in Paris following a massive blaze that damaged the famous church's spire and roof.

Meanwhile, Jeff Bezos' fortune just crossed the $150 billion mark, further consolidating his position as the richest man on the planet. His net worth is $50 billion more than Bill Gates who is at the second spot. However, Bezos' net worth declined $40 billion earlier this year after reaching a divorce settlement with ex-wife MacKenzie Bezos, the report said.

Edited by Chitranjan Kumar

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