Bernard Arnault Becomes Worldâs Richest Person As LVMH Stock Rises
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French fashion tycoon Bernard Arnault is the worldâs richest person this Monday, with an estimated net worth of $186.3 billionâputting him $300 million above Jeff Bezos, who is worth $186 billion, and Elon Musk, worth $147.3 billion.
Arnaultâs fortune has jumped from $76 billion in March 2020 to $186.3 on Monday, a massive rise of over $110 billion in the past 14 months, thanks to a pandemic defying performance by his luxury group LVMH (Louis Vuitton Moët Hennessy).
LVMH, which also owns household names like Fendi, Christian Dior and Givenchy, rose 0.4% during the first hours of trading on Monday, putting its market cap at $320 billion and pushing Arnaultâs personal stake up by more than $600 million.