Bernard Arnault now has a wealth of $107.6 billion, which is about $200 million more than Bill Gates.
Just a few days after entering the prestigious $100 billion club, LVMH’s Bernard Arnault has toppled Microsoft founder Bill Gates as the second richest person on earth, according to Bloomberg Billionaires Index. This is for the first time in a seven-year run that Bill Gates’s number 2 position has gone on to someone else. Bernard Arnault now has a wealth of $107.6 billion, which is about $200 million more than Bill Gates. The business conglomerate Bernard Arnault had added $39 billion to his riches in 2019 alone, the biggest wealth gain in that duration among 500 billionaires.
Bernard Arnault, CEO of luxury-goods maker LVMH (Moët Hennessy-Louis Vuitton), had gotten in the league of Bill Gates and Amazon’s Jeff Bezos by becoming one of the only three people on the planet with riches soaring above $100 billion, this June itself. Arnault is also the richest person on the European continent. The French centibillionaire had invested $15 million to buy Christi
an Dior, another luxury goods company, in 1985.
The business mogul now has 97% stake in the French luxury goods company. In 1988, the Arnault also invested hundreds of millions in LVMH. He then went on to become the largest stakeholder in the luxury group. Bernard Arnault and his family now spearheaded the luxury group which has numerous other subsidiaries like Louis Vuitton, Christian Dior, Sephora, Fendi, Emilio Pucci, EDUN, Moynat and jewellery brands like TAG Heuer, De Beers and Bulgari.
Arnault family: The philanthropists
In the 2019 Notre Dame Cathedral fire that ravaged popular destination, Bernard Arnault and his family were among several luxury tycoons who pledged millions for the reconstruction of France’s iconic spot. Arnault family had pledged about $220 million out of the total $650 million.
Gates’ philanthropy costs him 2nd spot
Bill Gates, the co-founder of Bill & Melinda Gates Foundation had donated more than $35 billion to his organisation. According to Bloomberg reports, “were it not for Gates’ philanthropic giving, he’d still be the world’s richest person.”