ALBAWABA - Bernard Arnault, the French businessman and the founder, chairman, and CEO of LVMH, the world's largest luxury goods company, earned over $15 billion in just one day. After the recent gain, Arnault moved from fifth to the fourth wealthiest man globally.
Bernard Arnault earns $15 billion
Arnault’s fortune witnessed this significant jump of about 9.4% after the great performance of LVMH shares yesterday. It is worth noting that the company’s shares increased to reach $676 per share and Arnault’s wealth rose by approximately $15.6 billion, reaching an overall total of $197.5 billion, according to the Forbes Billionaires Index.
Bernard Arnault manages the LVMH empire that owns 75 fashion and cosmetics brands including Louis Vuitton and Sephora. Additionally, LVMH acquired Tiffany & Co., the high-end American retailer known for fine jewelry, China, silver, and wedding registry, for $15.8 billion in 2021 which was marked as the largest known luxury brand acquisition to date.
Arnault’s fortune witnessed this significant jump of about 9.4% after the great performance of LVMH shares yesterday. (AFP)
Fourth richest man competing with Elon Musk
Following the recent jump in LVHM shares, Arnault became the fourth richest man in the world, now competing with the world’s richest man, Elon Musk, the CEO of Tesla.
Notably, Musk’s fortune is estimated at approximately $266.3 billion. Following him is Jeff Bezos, Executive chairman of Amazon, with a net worth of $208.7 billion, and Larry Ellison, Chief Technology Officer of Oracle, with a wealth of approximately $205.2 billion, according to Forbes.
