Bernard Arnault, CEO of Moët Hennessy Louis Vuitton (LVVHM), with a fortune of $197 billion, has once again become the richest man in the world.
Bernard surpassed Jeff Bezos, who briefly held the title just a week ago. According to the Bloomberg Billionaires Index, Arnault's fortune surpasses Bezos's by just $1 billion as of Thursday.
The trio of Bezos, Arnault and Tesla CEO Elon Musk often switch ranks among the world's richest people. Elon Musk, who held the top spot until last week, has seen his fortune decline to $189 billion due to a drop in Tesla shares following reported poor sales in China.
Arnault, CEO and chairman of French luxury conglomerate LVMH, has built his fortune since co-founding the company in the 1980s.
Its portfolio spans several luxury sectors, including fashion, jewellery, watches, perfumes and alcohol, with renowned brands such as Louis Vuitton, Tiffany & Co and Dom Pérignon. Her 97.5% stake in Christian Dior contributes significantly to his wealth.
In a strategic move, Arnault named his daughter, Delphine Arnault, CEO and president of Dior in 2023, while his other four children are actively involved in LVMH and its brands.
At 75, Arnault, who extended the company's mandatory retirement age to 80 in 2022, retains control of his luxury empire and has five additional years to determine his successor.
