Bernard Arnault has taken the title of the wealthiest person in the world from Elon Musk. Elon Musk, the owner of Tesla and Twitter, has been surpassed by French business billionaire Bernard Arnault as the wealthiest person in the world.
Since 1989, French entrepreneur Bernard Arnault has led LVMH as its CEO and chairman. Here, we shall learn more about Bernard Arnault’s background, line of work, and riches.
He has consistently held the first, second, and third places among the world’s wealthiest individuals. He is claimed to have stayed among the world’s wealthiest individuals for the past twenty years.
Bernard Arnault Net Worth
According to the Forbes list, he is the wealthiest person in the world. Per the most recent real-time report, Bernard Arnault’s net worth is $210.4 billion. The CEO of LVMH, the world’s most prominent luxury goods manufacturer, is Bernard Arnault.
With almost 70 brands under its belt, Louis Vuitton Mot Hennessy is a luxury conglomerate that is 47.5 percent owned by Bernard Arnault and his family. The largest luxury goods corporation in the world and a French company, LVMH, has more than 60 subsidiaries.
These include Tiffany & Co., Christian Dior, Fendi, Marc Jacobs, Sephora, Tag Heuer, and Bulgari. The company Bernard Arnault owns deals in selling wine, champagne, spirits, clothing, leather goods, jewelry, watches, perfumes, and cosmetics. They have about 6000 retail locations worldwide.
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Bernard Arnault Career
After completing his engineering studies at the Ecole Polytechnique in Paris, Bernard Jean Etienne Arnault started his work as an engineer at the Ferret-Savinel construction firm owned by his family.
LVMH chairman and chief executive Bernard Arnault’s net worth soared to $210 billion on Thursday, according to the Bloomberg Billionaires Index.
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He spent many years working for this company before moving to America in 1981 with his entire prover. Later in 1984, he acquired the insolvent French textile company Boussac Saint-Frères from French luxury fashion designer Christian Dior. He entered the market for premium products with this.
After a few years of leading Saint-Frères, he sold most of his company and then purchased most of the shares in LVMH, the new corporation created by the union of Louis Vuitton and Mot Hennessy.
At the moment, his primary goal was to profit from these shares. Bernard Arnault, the company’s chairman, and CEO since 1989, rose to the position of LVMH’s largest stakeholder in the same year.
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