Net worth 10,010 crores US$ 2019
source of income: Chairman and CEO, LVMH; Chairman, Christian Dior SE
Erarlier today, Bloomberg announced that Bernard Arnault edged out renowned investor Warren Buffett as the third richest man in the world. Following news that Arnault’s company LVMH saw its stock increase by 2.9%, Arnault’s net worth climbed to a nice round $100.4 billion (£79.54 billion) by Bloomberg’s estimations – toppling Buffett’s estimated $82.5 billion.
The announcement sees the LVMH chairman and CEO join the world’s richest man Jeff Bezos (valued at $119 billion by Bloomberg following his divorce settlement with MacKenzie Bezos) and Bill Gates ($106 billion) at the very top of the rich list. Bloomberg reported that Arnault’s wealth “now equals more than 3% of France’s economy”, thanks to his massive shares in LVMH as well as a 97% stake in Christian Dior.
From engineer to the ultimate name in luxury, here’s how Arnault made his billions.