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The exhibit demonstrates the imperishable link between the flowering of Russian and European culture in the decades before the 1917 October Revolution.
Bernard Arnault Becomes The Richest Man In World
SEATTLE (dpa-AFX) - Bernard Arnault, Chairman, and CEO of French luxury fashion retail chain Luis Vuitton Moet Hennessy or LVMH, has become the richest man in the world with an estimated net worth of $186.3 billion on Monday.
Arnault witnessed a massive $110 billion increase in his net worth in the last 14 months putting him $300 million above Amazon (AMZN) head Jeff Bezos and $39 billion ahead of SpaceX and Tesla (TSLA) owner Elon Musk. The growth was driven by a strong performance by his luxury group LVMH even during the pandemic period.
LVMH, which owns designer brands such as Fendi, Cristian Dior, and Givenchy, saw a 0.04% rise in stock after the market opened on Monday, helping Arnault s value to rise by $600 million. Much like the other luxury fashion chains like Chanel, Kering Group, and L Oreal who have doubled their fortunes in the same period of time, LVMH has also increased its market cap to $320 billion.
SAN FRANCISCO: Elon Musk’s Twitter posts keep sending Bitcoin prices tumbling. His own fortune is heading in the same direction.
On Monday, Tesla Inc’s chief executive officer lost his spot as the world’s second-richest person to LVMH Chairman Bernard Arnault as the electric vehicle-maker’s shares fell 2.2%. That was on top of last week’s slump amid a global rout in technology stocks and fresh signs of trouble in its China business.
Musk, who held the top spot in the Bloomberg Billionaires Index as recently as March, now has a fortune of $160.6 billion, down 24% from its January high.