{"id":24282,"date":"2021-05-25T17:50:54","date_gmt":"2021-05-25T17:50:54","guid":{"rendered":"https:\/\/graziamagazine.com\/us\/?post_type=articles&p=24282"},"modified":"2021-05-25T21:56:22","modified_gmt":"2021-05-25T21:56:22","slug":"lvmh-bernard-arnault-richest-man","status":"publish","type":"articles","link":"https:\/\/graziamagazine.com\/us\/articles\/lvmh-bernard-arnault-richest-man\/","title":{"rendered":"LVMH’s Bernard Arnault Is Currently The Richest Man In The World"},"content":{"rendered":"
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Chief Executive of LVMH Bernard Arnault (Photo: NICHOLAS KAMM\/AFP via Getty Images)<\/figcaption><\/figure>\n

Bernard Arnault, CEO and majority owner of French luxury group Louis Vuitton Moet Hennessy (LVMH)<\/a>, has surpassed Amazon founder Jeff Bezos to become the world\u2019s richest person. In a battle of billionaires, Arnault and Bezos have been alternating for the top spot on Forbes real-time billionaire tracker<\/a> since Monday, but as of now, the LVMH<\/a> owner holds the spot. <\/span>His estimated net worth currently stands at $188.0 billion,\u00a0<\/span>according to Forbes<\/em><\/span><\/a>, nudging him past Bezos\u2019s $187.8 billion in estimated wealth. Earlier this month, Bernard Arnault and LVMH overtook Tesla\u2019s celebrity chief executive Elon Musk to become the world\u2019s second-richest person. Arnault notes on the LVMH site that \u201c[LVMH’s] business model is anchored in a long term vision that builds on the heritage of our Houses and stimulates creativity and excellence. This model drives the success of our Group and ensures its promising future.\u201d<\/span><\/p>\n

Forbes<\/span><\/em> explained that the pandemic has been kind to LVMH, with his personal wealth gaining an eye-popping $110 billion within the past 14 months. Arnault first got his start in the construction business, but in 1984 acquired the parent company of Dior. He then acquired a controlling stake in LVMH in 1989. Arnault made his name and money from a collection of companies specializing in finely made leather goods, couture fashion, and high-end spirits. Arnault, 72, became a controlling stake of the company in the late 1980s, in a saga that earned him the nickname \u201cthe wolf in cashmere.\u201d He was instrumental in forging it into what is today the world\u2019s largest luxury seller.<\/span><\/p>\n

Earlier this year, LVMH acquired America\u2019s largest jewelry maker Tiffany & Co<\/a>. for $15.8 million which is the largest deal in the luxury fashion business to date. Bernard Arnault\u2019s LVMH oversees an empire of 70 brands including Givenchy, Guerlain, Marc Jacobs, Sephora, Tiffany & Co., Emilio Pucci, Fendi, Loro Piana, Nicholas Kirkwood, Thomas Pink, R.M Williams, EDUN, Moynat, and Donna Karan, along with a host of jewelry brands, including TAG Heuer, De Beers, and Bvlgari. Arnault owns a 96.5% stake in Christian Dior, which controls 41% of LVMH.\u00a0\u00a0<\/span><\/p>\n","protected":false},"author":29095,"featured_media":24285,"template":"","format":"standard","categories":[38,17,16],"yoast_head":"\nLVMH's Bernard Arnault Is Currently The Richest Man In The World<\/title>\n<meta name=\"description\" content=\"Bernard Arnault, CEO and majority owner of French luxury group LVMH, has surpassed Amazon founder Jeff Bezos to become the world\u2019s richest person.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/graziamagazine.com\/us\/articles\/lvmh-bernard-arnault-richest-man\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LVMH's Bernard Arnault Is Currently The Richest Man In The World\" \/>\n<meta property=\"og:description\" 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