‘Bernard Arnault’ overtook Elon Musk in Bloomberg Billionaires Index, Know his wealth

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Bernard Arnault

Elon Musk is no longer the richest person in the world and Bernard Arnault has snatched this title from him. French business tycoon Bernard Arnault has overtaken Twitter and Tesla owner Elon Musk in the Bloomberg Billionaires Index on Tuesday. In this list, for the first time, he is at the top of the list of the world’s richest people. Let us know who is Bernard Arnault and what is his business and how much wealth does he have?

According to the Bloomberg Billionaire Index, Arnault has reached the first position in the list of the world’s richest with $ 171 billion, while Musk has slipped to second place with $ 164 billion.

Bernard Arnault is the CEO of LVMH Moët Hennessy, the world’s largest luxury goods company. Arnault and his family own a 47.5 percent stake in LVMH. This luxury house currently has more than 70 brands.

LVMH i.e. Moët Hennessy Louis Vuitton is not only of France but also the world’s largest luxury goods company. LVMH has more than 60 subsidiaries. These include brands such as Kristin Dior, Fendi, Marc Jacobs, Sephora, Tag Hoyer, Bulgari, and Tiffany & Co.

Bernard Arnault’s company is involved in the business of wine, champagne, spirits, fashion and leather goods, watches, jewelry, perfumes, and cosmetics products. They have 5500 retail stores across the world.

According to the LVMH website, Bernard Arnault is Chairman and CEO of LVMH Moët Hennessy – Louis Vuitton, the world’s leading luxury products group.

Born to an industrial family in Roubaix, France on March 5, 1949, Mr. Arnault attended the Roubaix lycée and the Faidherbe lycée in Lille. He then went on to study at the Ecole Polytechnique.

He began his professional career that year as an engineer with the Ferret-Savinel construction company and was successively promoted to various executive management positions before becoming Chairman in 1978.

Mr. Arnault remained there until 1984 when he undertook the reorganization of the Financière Agache holding company. He returned the group to profitability as he embarked upon a strategy of developing the world’s leading luxury products company. In the process, he reinvigorated Christian Dior as the cornerstone of the new organization.

In 1989, Mr. Arnault became the majority shareholder of LVMH Moët Hennessy – Louis Vuitton, creating the world’s leading luxury products group. Mr. Arnault has been Chairman and CEO of the company since that date.

Mr. Arnault is also President of the Board of Directors of Groupe Arnault S.E. (his family holding company).

Mr. Arnault is married and has five children.
He has been awarded the honorary titles of Grand Officier de la Légion d’Honneur and Commandeur des Arts et des Lettres.

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