reports that in the latest ranking by Bloomberg’s Billionaires Index, Arnault is in second place with Jeff Bezos still retaining first place.
As LVMH’s share price has soared in 2019, so has Arnault’s worth. It now stands at about $107.6 billion, more than $200 million ahead of Gates, Bloomberg estimates.The report also states that Gates would have been ranked the richest person, even ahead of Bezos if not for his philanthropic giveaways which gave Arnault more room to climb.
The famed label by then had deteriorated by licensing its name out to companies producing sub-par products. He went on to buy up other brands, such as Céline, and in 1988 engineered the deal that made him the majority shareholder of LVMH.
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