Updated: May 22
ARNAULT BECOMES THE 2ND WEALTHIEST PERSON IN THE WORLD.
French businessman Bernard Arnault just overtook Bill Gates as the second-richest person in the world. He has a net worth of $100 billion, according to Forbes.
Arnault previously overtook Warren Buffett in March to become the third-richest person in the world.
Now, only Jeff Bezos is richer than Arnault.
Arnault is the chairman and CEO of LVMH Moet Hennessy Louis Vuitton SE, known as LVMH, the world’s largest maker of luxury goods, making him the richest person in the fashion industry. LVMH, which recorded more than $53 billion in revenue in 2018, is made up of 70 companies including Christian Dior, Louis Vuitton, Dom Perignon Champagne, TAG Heuer, and Rimowa.
His recent partnerships with Rihanna’s Fenty brand and the Supreme brand also show that the LVMH brand continues to make investments in urban and popular luxury brands that have a much younger fan base.
This goes to show the true power of a Luxury Brand and just how much fashion and culture are truly worth…
We are very excited to see this and will definitely keep our readers posted with this and more developments.