Elon Musk now ranks as the second richest person in the world; Topping the list is Bernard Arnault, the chairman of French luxury goods giant LVMH.
How much is Bernard Arnault worth?
Arnault is worth $171 billion. Even with a decline of $ 7 billion, Arnault’s controlling stake in LVMH lands him at the top of Bloomberg’s list. He’s also the first European to top the list.
Who is he?
Arnault was born in France, After graduating from the engineering school ” Ecole Polytechnique.” After graduating, Arnault worked for the family business and became chairman in 1978. Later, Arnault heard the french government was looking for a new investor to take over a company. He knew the bankrupt company owned a key asset which was Christian Dior. Arnault bought the control of the group and eventually made Christian Dior a top seller and the cornerstone of the new organization. Christian Dior is now a part of a group of brands Arnault has helped to grow, including Dom Perignon, Givenchy, Marc Jacobs, and Tiffany & Co. The billionaire has turned LVMH into a luxury brand powerhouse. Arnault is known for keeping a low profile and donating to organizations focusing on the arts and culture. He is married and has five children, who all work at LVMH.
How did Elon Musk fall on the list, becoming the second richest person in the world?
Musk lost a whopping $107 billion this year. Musk can blame the significant decrease on Tesla’s share price, which plummeted 54%, according to CNN, and problems at Twitter.
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