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LVMH CEO Bernard Arnault was briefly the wealthiest person in the world

By Don-Alvin Adegeest

May 25, 2021

Bernard Arnault was briefly the wealthiest person in the world on Monday. In the hours before the New York Stock Exchange opened the president and CEO of French luxury giant LVMH surpassed Amazon founder Jeff Bezos in Forbes’ latest ranking. His fortune was valued at 186.3 billion dollars (about 152 billion euros), 300 million above Bezos (186 billion).

Unfortunately for Arnault, when the American markets opened Mr. Bezos reclaimed the top spot, followed by Arnault and Tesla founder Elon Musk.

As was reported by Forbes, Arnault’s fortune has grown from 76 billion dollars in March 2020 to 186.3 billion dollars today. “A massive increase of over 110 billion in the last 14 months, thanks to a great performance by his group of LVMH” said Forbes.

The French giant, whose shares rose 77 percent in one year, closed the first quarter of 2021 with revenues of almost 14 billion euros, up 32 percent to the same period of the year.

According to Forbes’ 35th annual ranking of the richest people in the world, the number of billionaires in 2021 has soared to 2,755 people, up 660 from last year. Overall, the sum of their assets is 13.1 trillion dollars, 8 trillion more than the total of the 2020 rankings.