The owner of the luxury brands Louis Vuitton Moët Hennessy (LVMH) managed to raise his fortune to US $ 300 million above that of Jeff Bezos.
Bernard Arnault, the French fashion mogul, has been in the top five of the richest people in the world for years. According to the most recent ranking, his fortune was US $ 76,000 million as of March 2020.
Also read: What will happen to the fortune of Bill Gates after the divorce with Melinda?
However, last Monday, May 24, it managed to take it to US $ 186.3 billion, which means a massive increase of more than US $ 110 billion in the last 14 months, according to Forbes. This gain is derived from the increase in the price of the shares of the luxury goods conglomerate LVMH (Louis Vuitton Moët Hennessy).
This move put him US $ 300 million above Jeff Bezos, who has a US $ 186,000 million fortune, and also allowed him to surpass Elon Musk, with a fortune of US $ 147,300 million.
But the news only lasted a few hours. In the afternoon, Bezos regained his position after Amazon shares rose when markets opened in New York. His fortune is currently estimated at $ 188.4 billion, putting him ahead of Arnault again.
Late last week Bloomberg reported that the LVMH chairman has spent some 440 million euros (US $ 538 million) in recent months acquiring more shares in his own company, the world’s largest manufacturer of luxury goods. through companies that he and his family control.
In fact, LVMH, which also owns well-known brands such as Fendi, Christian Dior and Givenchy, last month reported sales growth in the first quarter of 2021 compared to 2020 that beat analyst estimates (32%), driven by China and other Asian countries.
Only stocks are up more than 20% this year. But the best performance was seen on Monday, when they closed almost 1% higher. That was enough to boost Arnault’s fortune by $ 1.7 billion.
But it is not just LVMH. The net worth of François Pinault, whose Kering Group owns the luxury brands Saint Laurent, Alexander McQueen and Gucci, increased from $ 27 billion to $ 55.1 billion between March 18, 2020 and this Monday. Meanwhile, the unlisted Chanel brand owned by brothers Alain Wertheimer and Gerard Wertheimer, grandsons of founder Pierre Wertheimer, is now worth $ 35 billion, more than double its 2020 net worth ($ 17 billion). ). Even Francoise Bettencourt Meyers, granddaughter of the founder of L’Oréal, enjoyed a raise of nearly $ 40 billion, adding $ 87.8 billion by Monday.
Follow the news of El Espectador on Google NewsAccording to Forbes, Arnault has already briefly ranked himself the world’s richest person on several occasions: just before the US markets closed on Friday, Arnault was about $ 100 million richer than Bezos; At around 10:30 a.m. on December 16, 2019, Arnault passed Bezos because of the dynamics of the stock market.
Bernard Arnault debuted in the top 10 richest people in the world in mid-2005, with a fortune of US $ 13 billion and has been in the top five since 2018. He became the third richest person in 2019, with a fortune of US $. $ 76,000 million.
It may interest you: The day that Conor McGregor made more money than Messi and Cristiano Ronaldo
Something similar happens with Elon Musk, who is currently the third richest person in the world with a net worth of $ 150.8 billion. In early January, he surpassed Bezos to become the richest on three separate occasions, on January 8, 12 and 14, before the Amazon founder made his way for good on January 15.
The truth is that, according to Forbes, “the three men have experienced spectacular growth in their net worth during the pandemic, collectively earning more than $ 300 billion.”
