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Who is Bernard Arnault, briefly the richest man in the world?

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 Billionaire businessman Elon Musk was recently knocked off the top spot on Forbes real time billionaires list for a short period coming in second to Bernard Arnault and his family owners of the LVMH Mo t Hennessy Louis luxury brand group Vuitton The slight drop in Musk s net worth was attributed to a drop in shares of his auto company Tesla Tesla shares which have lost more than 47 in value since Musk made his offer to buy Twitter earlier this year fell 2 7 Reuters reported saying Tesla investors are being cautious after Musk s increased focus on Twitter id yt wrapping box Musk regained his position shortly thereafter With a net worth of 185 4 billion Musk is now followed again on the Forbes list by Arnault with 184 7 billion Musk had surpassed Amazon founder and CEO Jeff Bezos in 2021 for the top spot The number three spot is currently held by Indian businessman Gautam Adani with a net worth of 135 4 billion Who is Bernard Arnault Arnault is a French businessman who is currently the Chairman and CEO of LVMH Mo t Hennessy Louis Vuitton one of the world s most valuable luxury goods groups The group owns some 70 companies including Dom Perignon wine Louis Vuitton Fendi and Marc Jacobs clothing and Fenty Beauty by Rihanna makeup Arnault was born into an industrial family in Roubaix France He began his professional career as an engineer and became president in 1978 Then in 1984 he undertook the reorganization of the Financi re Agache holding company He He Regained the group s profitability when he embarked on a development strategy for the world s leading luxury goods company In the process he reinvigorated Christian Dior as the cornerstone of the new organization according to the LVMH website In 1989 he became the majority shareholder of LVMH Mo t Hennessy Louis Vuitton Since then he has been President and CEO of the company His four children are also involved in the different companies that are part of the group What is the Forbes list Forbes magazine publishes an annual list of the world s richest people as it did in April this year featuring Indian industrialists such as Lakshmi Mittal Kumar Birla and Shiv Nadar But the list that Arnault beat Musk on for a while was the real time list that s available all year It has a ranking system that tracks the daily ups and downs of the world s richest people The value of people s public holdings is updated every five minutes when the respective stock markets are open People whose fortunes are significantly tied to private companies will see their net worths updated once a day which is why even on a day to day basis rankings can change on the list A few months ago Adani ranked second and displaced Arnault on the same list Source link
Who is Bernard Arnault, briefly the richest man in the world?

Elon Musk

Billionaire businessman Elon Musk was recently knocked off the top spot on Forbes’ real-time billionaires list for a short period, coming in second to Bernard Arnault and his family, owners of the LVMH Moët Hennessy Louis luxury brand group. Vuitton.

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The slight drop in Musk’s net worth was attributed to a drop in shares of his auto company Tesla. “Tesla shares, which have lost more than 47% in value since Musk made his offer to buy Twitter earlier this year, fell 2.7%,” Reuters reported, saying Tesla investors are being cautious after Musk’s increased focus on Twitter.

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Jeff Bezos

Musk regained his position shortly thereafter. With a net worth of $185.4 billion, Musk is now followed again on the Forbes list by Arnault with $184.7 billion. Musk had surpassed Amazon founder and CEO Jeff Bezos in 2021 for the top spot. The number three spot is currently held by Indian businessman Gautam Adani, with a net worth of $135.4 billion.

Who is Bernard Arnault?

Chairman and CEO of LVMH Mo

Arnault is a French businessman, who is currently the Chairman and CEO of LVMH Moët Hennessy Louis Vuitton, one of the world’s most valuable luxury goods groups. The group owns some 70 companies, including Dom Perignon (wine), Louis Vuitton, Fendi and Marc Jacobs (clothing) and Fenty Beauty by Rihanna (makeup).

Christian Dior

Arnault was born into an industrial family in Roubaix, France. He began his professional career as an engineer and became president in 1978. Then, in 1984, he undertook the reorganization of the Financière Agache holding company. He “He Regained the group’s profitability when he embarked on a development strategy for the world’s leading luxury goods company. In the process, he reinvigorated Christian Dior as the cornerstone of the new organization,” according to the LVMH website.

LVMH Mo

In 1989, he became the majority shareholder of LVMH Moët Hennessy – Louis Vuitton. Since then he has been President and CEO of the company. His four children are also involved in the different companies that are part of the group.

What is the Forbes list?

Lakshmi Mittal

Forbes magazine publishes an annual list of the world’s richest people, as it did in April this year, featuring Indian industrialists such as Lakshmi Mittal, Kumar Birla and Shiv Nadar. But the list that Arnault beat Musk on for a while was the real-time list that’s available all year. It has a ranking system that “tracks the daily ups and downs of the world’s richest people.”

The value of people’s public holdings is updated every five minutes when the respective stock markets are open. People whose fortunes are significantly tied to private companies will see their net worths updated once a day, which is why even on a day-to-day basis, rankings can change on the list. A few months ago, Adani ranked second and displaced Arnault on the same list.

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