Published 20:58 IST, May 18th 2021
Bernard Arnault becomes world's second richest man after Tesla dips: Here's all about him
Tech billionaire's Elon Musk's rank as the world’s second-richest man was overtaken by non-other than Luxury goods mogul- Bernard Arnault.
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SpaceX Chief Elon Musk who has sent the prices of Bitcoin plummeting with his tweets is facing a similar fortune himself. On May 18, his overall wealth declined by a whopping $3.16 billion sending his fortune to the US $160/6, as per Bloomberg’s Billionaire Index. As his net worth dipped, his rank as the world’s second-most richest man was overtaken by non-other than Luxury goods mogul- Bernard Arnault.
Image: LVMH
Who is Bernard Arnault?
The 72-year-old Bernard Arnault is chairman and chief executive of LVMH Moët Hennessy – Louis Vuitton, which is the world’s largest luxury products company. At present, he oversees more than 70 leading brands including Sephora, Christian Dior amongst others. He owns a 96.5 per cent stake in Christian Dior, which controls 41 per cent of LVMH.
Rediscover the country you love in ways you had never imagined. Meet its captivating people, live its timeless traditions and lose yourself to its legendary flavours.
— Belmond (@belmond) May 14, 2021
Experience Italy like never before.#TheArtOfBelmondhttps://t.co/xuClEAYA81 pic.twitter.com/xvm04WnGsC
Arnault was born on March 5, 1949, in Roubaix, the third-largest city in France. He studied engineering at the Ecole Polytechnique, a prestigious school in before joining his father’s construction business. While his father made little in the construction business, his first brush with opulence came after he acquired Christian Dior in 1985. In 1989, Arnault became the majority shareholder of LVMH Moët Hennessy – Louis Vuitton, thereby creating the world’s leading luxury products group.
The journey continues. Each fragrance in the collection of #LVParfums promises a rich sensorial escape. Explore Heures d’Absence and all Louis Vuitton fragrances for women at https://t.co/MCLQkKk255 pic.twitter.com/uKcpMl80Gw
— Louis Vuitton (@LouisVuitton) May 16, 2021
Earlier this year, in what marked the biggest luxury brand acquisition ever, LVMH acquired American jeweller Tiffany & Co for $15.8 billion. In a similar move, it used $3.2 billion to take over the luxury hospitality group Belmond in 2019. On Monday, Arnault' total fortune rose by $285 million taking his overall net worth to $161.2 billion. Arnault has added $46.8 billion to his net worth so far in 2021. It is imperative to note that Amazon's Jeff Bezos continues to be on the top position in Bloomberg Billionaires Index, with a net worth of $190 billion.
Discover the men's Beachwear capsule https://t.co/w0gbkVgYkK for #DiorMenFall 2021 by Kim Jones. An ode to the colors and styles of summer escapism, the new line includes iterations of the #DiorOblique motifs in the form of a terry cotton bathrobe, towel and #DiorSaddle tote. pic.twitter.com/hQn39Za3Sg
— Dior (@Dior) May 17, 2021
Image:AP
20:58 IST, May 18th 2021