Bernard Arnault

The French tycoon joins Elon Musk and Jeff Bezos as the only billionaires to have ever reached the milestone.

He is the third person ever — after Elon Musk and Jeff Bezos — to reach this level of wealth. Arnault fortune soared on the back of LVMH's soaring stock price, ...

[five children](https://www.businessinsider.com/bernard-arnault-lvmh-children-delphine-antoine-alexandre-frederic-jean-dior-2023-1#bernards-youngest-son-jean-runs-louis-vuittons-watches-division-6) into leadership positions across the conglomerate's various luxury brands. A record number of Americans between the ages of 18 and 29 are opting to live at home with their parents — at a level not seen since the Great Depression — thus freeing up disposable income for splashing out on luxury goods, Insider's Nidhi Pandurangi [reported](https://www.businessinsider.com/young-adults-living-home-luxury-boom-usa-morgan-stanley-2022-12) in December. The 73-year-old tycoon has not announced who will succeed him as LVMH CEO. [to the company's financials](https://www.lvmh.com/news-documents/press-releases/new-record-year-for-lvmh-in-2022/). This robust appetite for luxury goods is helping LVMH, which owns a range of luxury fashion brands including leather goods maker Louis Vuitton, jeweler Tiffany & Co., and watchmaker TAG Heuer. The stock is up about 25% this year. [Millennials a](https://www.businessinsider.com/gen-z-millennials-buying-driving-luxury-market-bain-study-2022-11) [nd](https://www.businessinsider.com/gen-z-millennials-buying-driving-luxury-market-bain-study-2022-11) [ Gen](https://www.businessinsider.com/gen-z-millennials-buying-driving-luxury-market-bain-study-2022-11) [ Z](https://www.businessinsider.com/gen-z-millennials-buying-driving-luxury-market-bain-study-2022-11) are also driving growth in this market. [In July 2022,](https://www.reuters.com/business/retail-consumer/lvmhs-bernard-arnault-restructures-holding-long-term-family-control-2022-07-21/) Arnault changed the legal structure of his family holding company Agache — the controlling shareholder of Christian Dior — to ensure his family's control over LVMH in the long term. [Insider's Cheryl Teh](https://www.businessinsider.com/arnault-family-lvmh-k-pop-stars-boost-empire-partnerships-2023-1) reported in January. [LVMH](https://markets.businessinsider.com/stocks/lvmhf-stock). [Bloomberg Billionaires Index](https://www.bloomberg.com/billionaires/profiles/bernard-j-arnault/) [.](https://www.bloomberg.com/news/articles/2023-04-04/world-s-richest-man-bernard-arnault-s-fortune-tops-200-billion-for-first-time) Arnault is also the first person outside the US to surpass a net worth of $200 billion. [Bernard Arnault](https://www.businessinsider.com/who-is-bernard-arnault-richest-person-in-europe-lvmh-life-photos-2019-1) — the CEO and co-founder of luxury goods conglomerate LVMH Moët Hennessy Vuitton and the richest person in the world — has reached another milestone in his wealth journey.

... Musk's net worth fell to just $180billion in 2022, $39billion less than it was last year, as Arnault's wealth grew more than $50billion to $211billion.

He was superseded by Frenchman Bernard Arnault, the chairman of French luxury goods giant LVMH — which owns brands like Louis Vuitton, Christian Dior and Tiffany & Co. Among those who were kicked off the list were Kanye West, who lost much of his sponsorships after tweeting anti-Semitic remarks, and embattled FTX founder Sam Bankman-Fried, who infamously lost 94 percent of his wealth in just one day. Despite Arnault's success, Forbes reports that it was a difficult year for many of the world's billionaires as the total number of billionaires on the list fell for a second straight year from 2,668 to 2,640. Among those who were kicked off the list this year are embattled FTX founder Sam Bankman-Fried, who lost 94 percent of his wealth in just one day, and Kanye West, who lost many of his sponsors after he went on an anti-Semitic tirade For the past three years, Forbes reports, he has been trailing Musk and Bezos in third place on the World Billionaire's list, but he was able to surpass his competitors in 2022 when shares of LVMH climbed 35 percent and he pulled in revenues of $21.7billion — or €20billion. [CNN ](/news/article-10691573/Number-billionaires-world-drops-2-668-theyre-worth-12-7trillion-Forbes.html)reports, but Arnault was able to supersede Musk in the annual list after his net worth grew more than $50billion to $211billion.

Forbes says no one had a better year than Bernard Arnault, who is No. 1 on the World's Billionaires list for the first time; record sales and profits have ...

He’s $57 billion poorer than in 2022 thanks to a 38 per cent decline in the e-commerce giant’s stock. Shares of his electric carmaker Tesla fell by nearly 50 per cent following the April 2022 announcement of his $44 billion takeover of Twitter, partly due to investor fears about Musk adding yet another CEO job to his workload and concerns about the $23 billion of Tesla stock he sold to help finance the deal. This is the first time a French citizen has led the World’s Billionaires ranking, which began in 1987," it said.

Elon Musk is no longer at the top of Forbes' annual “World's Billionaire's List”. The top position has now been awarded to Bernard Arnault, the chairman of ...

[By India Today Business Desk](/author/india-today-business-desk): Elon Musk has officially been dethroned from the top of Forbes’ annual “World’s Billionaire’s List” and is now the second-richest billionaire, reported media company CNN. As for Arnault, Forbes said the Frenchman had a “banner year” in 2022 because of record-high profits at the luxury conglomerate, which comprises Louis Vuitton, Christian Dior and Tiffany & Co. Elon Musk is no longer at the top of Forbes’ annual “World’s Billionaire’s List”.

Elon Musk has dropped to second place on Forbes' annual 'World's Billionaire's List'. His estimated current net worth is $180 billion.

Tesla shares have decreased by 50% since Elon Musk took control of Twitter a year ago, according to Forbes. His net worth reached $211 billion last year, a rise of more than $50 billion. According reports, Tesla recovered a good portion of those losses this year but is still far lower than it was before Musk purchased Twitter.

Bernard Arnault, CEO and Chairman of LVMH Moët Hennessy Louis Vuitton, has now become the richest person in the world replacing Elon Musk with a whooping ...

In 1987, Henri Racamier, then CEO of LVMH, extended the invitation to Arnault to make an investment. He became chairman of the company in 1978. He has been serving as the CEO and chairman of the LVMH Moët Hennessy Louis Vuitton since 1989.

BERNARD Arnault's net worth exceeded US$200 billion for the first time, making him just the third person to reach such heights of personal wealth.

The founder of luxury goods conglomerate LVMH now has a net worth of $201 billion, according to the Bloomberg Billionaires Index, which tracks the wealth of the ...

[real-time wealth tracker](https://www.forbes.com/real-time-billionaires/#278fe38a3d78), which uses a slightly different methodology to Bloomberg’s, Arnault has a net worth of $228.5 billion. [the number one spot](https://www.forbes.com/billionaires/) on its annual billionaires list [for the first time ever](https://africa.businessinsider.com/retail/bernard-arnault-just-took-the-no-1-spot-on-forbes-annual-billionaires-list-for-the/55s14f6). [At the end of 2022](https://www.cnbc.com/2022/12/12/elon-musk-is-no-longer-the-richest-person-in-the-world.html), Arnault surpassed Musk to become the world’s richest person, as [Tesla](https://fortune.com/company/tesla/) shares suffered a major selloff in the wake of Musk’s $44 billion purchase of [briefly overtaken](https://www.theguardian.com/technology/2022/dec/14/elon-musk-loses-title-of-worlds-richest-person-to-bernard-arnault) Musk just a week earlier, becoming [the first European](https://www.economist.com/business/2022/12/20/how-bernard-arnault-became-the-worlds-richest-person) to take the top spot on Bloomberg’s list. [record earnings](https://www.wsj.com/articles/lvmh-mc-q4-earnings-report-2022-11674726846) and a [leadership reshuffle](https://www.wsj.com/livecoverage/stock-market-news-today-01-11-2023/card/lvmh-shares-rise-to-new-record-after-leadership-reshuffle-Dnzunf0iljvARAXSXahr). [according to Bloomberg](https://www.bloomberg.com/billionaires/profiles/bernard-j-arnault/)—saw a boost of $2.42 billion on Tuesday as shares of both companies continued on the upward trajectory they had been enjoying in recent days. [vying to one day take over his luxury empire](https://fortune.com/2022/12/07/bernard-arnault-worlds-richest-man-5-children-lvmh-real-life-succession-billionaire/).

LVMH chair becomes only third person – after Elon Musk and Jeff Bezos – to ever amass such wealth.

The company posted a record €79.2bn in sales last year, with revenue surpassing €20bn at its cash cow, Louis Vuitton, which [named](https://www.bloomberg.com/news/articles/2023-02-14/vuitton-said-to-hire-pharrell-williams-as-menswear-designer) the musician turned entrepreneur Pharrell Williams as its new menswear designer in February. His three younger children also have important jobs within the world’s largest luxury goods company, which includes brands such as Stella McCartney, TAG Heuer, Bulgari and Tiffany. Her brother Antoine was promoted to run the holding company that controls LVMH and the Arnault family fortune. [was named the head of Christian Dior](https://www.theguardian.com/business/2023/jan/11/bernard-arnault-appoints-daughter-delphine-dior-chief-executive-lvmh), the second-biggest brand in the empire. In January, his eldest child, Delphine, Musk is Tesla’s co-founder, chief executive and 13% shareholder.

According to CNN, the two had been trading places on the outlet's daily Real-Time Billionaires list over the past few months.

Jeff Bezos overtook him in 2018 to be the world's richest person. In 2022, he was the eighth richest on the list. His company, Berkshire Hathaway, recently moved to buy up more shares of energy company Occidental Petroleum. In 1999, at the height of the dot com boom, they were bought for $307m by Compaq Computers. Bezos' $114 billion net worth represented a 1-spot drop, according to Forbes. It also completely owns GEICO, Duracell, and Dairy Queen, among several other companies. His boost in rankings was aided by Oracle rise 10% year-over-year in stock price, according to the outlet. LVMH backed away as the COVID-19 pandemic hammered luxury goods sales, but ultimately renegotiated a discounted purchase price. Musk took home $21m - he was 27. citizens joined the billionaire ranks for the first time this year, including LeBron James and Jimmy Buffett. Despite nearly 50 Americans, including Kanye West and Sam Bankman-Fried, dropping from the ranks and some dying, more than 60 U.S. followed a bitter legal dispute.

Americans like Elon Musk, Bill Gates dominated the top of the billionaires ranks.

In the latest list this year, Mukesh Ambani is ranked higher than Steve Ballmer of Microsoft, Larry Page and Sergey Brin of Google, Mark Zuckerberg of Facebook and Michael Dell of Dell Technologies. Elon Musk drops to second place: Last year's number one, Elon Musk, now holds the second spot with a net worth of $180 billion. This marks his first time at the top of the list, thanks to a banner year at LVMH, which owns Louis Vuitton, Christian Dior, and Tiffany & Co.

Bernard Arnault, CEO of LVMH, which owns Louis Vuitton, Christian Dior and Tiffany & Co., is the world's richest person, according to Forbes.

[25 Richest People in the World](https://www.forbes.com/sites/chasewithorn/2023/04/04/the-25-richest-people-in-the-world-2023/?sh=591d3b7e4969), released this week. 21, $56.7 billion). - For the second straight year, the number of billionaires declined – from 2,668 in 2022 to 2,640 this year. 19 No. 25 to No. - Two who dropped out of the Top 25: Zhang Yiming, founder of Bytedance, the parent company of Tik Tok dropped from No. 26; and Changpeng Zhao, known as CZ, the founder of cryptocurrency exchange Binance, fell from No. 3 on the annual list of richest people: Jeff Bezos at $114 billion. That's about $57 billion less than a year ago, the largest loss of anyone on the list, Forbes said. [Bernard Arnault, the world's richest person, appoints daughter CEO](https://www.usatoday.com/story/money/business/2023/01/11/new-louis-vuitton-ceo-bernard-arnaults-daughter-dior/11030964002/) [Tesla stock](https://www.usatoday.com/story/money/2022/12/28/tesla-stock-musk-shanghai-production/10958559002/)'s 50% decline since Musk's [$44 billion acquisition of Twitter](https://www.usatoday.com/story/tech/2022/04/25/elon-musk-twitter-ownership-deal/7437519001/) in April 2022. [Arnault had leapfrogged Elon Musk](https://www.usatoday.com/story/money/2022/12/13/elon-musk-richest-person-no-longer-forbes/10887947002/) to earn the top spot on Forbes' [real-time billionaires list](https://www.forbes.com/real-time-billionaires/#41add3813d78).

The combined net worth of the world's wealthiest people slipped to $12.2 trillion amid stock market volatility and rising interest rates, Forbes says.

- Bill Gates — $104 billion Ms Bettencourt Meyers is also the world’s 11th-richest person, according to Forbes. - Bernard Arnault — $211 billion Bernard Arnault, chairman of French luxury group LVMH, is the world’s richest person with a net worth of $211 billion, Forbes said. “But I won’t be slowing down anytime soon. “I turned 67 in October.