Welcome the World’s Third Member of the $100 Billion Club
Arnault, 70, was already Europe's richest person
The 1 percent’s 1 percent just welcomed its newest member.
Chairman and CEO of LVMH Moët Hennessy-Louis Vuitton, Bernard Arnault, is now worth over $100 billion, according to Bloomberg. Arnault’s bank account is sitting pretty at $100.4 billion — an increase of $32 billion over the last year alone. With this new status, Arnault joins Jeff Bezos and Bill Gates as the only three people alive who have at least $100 billion to their names.
The prolific LVMH empire is the world’s largest luxury goods retailer, spanning fashion, alcohol, jewelry and travel. It includes brands like Louis Vuitton — which CNBC noted is largely responsible for Arnault’s jump on the billionaires list thanks to increased demand for its products — Christian Dior, Krug, Veuve Clicquot and Bvlgari.
Arnault, 70, was already Europe’s richest person before crossing into “centibillionaire” territory, and his wealth is equal to that of about 3 percent of France’s entire economy, according to CNBC. He and his family pledged to donate 200 million euros in April, along with the “architectural and design resources of… [the] LVMH fashion conglomerate” to Paris’ Notre-Dame Cathedral after a fire enveloped its famed roof.
On the very short list of three über billionaires, Arnault is third behind Gates, who’s worth a reported $106 billion and Bezos, who has $119 billion. The Amazon founder’s spot at the top is even more impressive considering his fortune dropped $40 billion this year after he and his former wife, MacKenzie Bezos, got divorced.
Editor’s Note: RealClearLife, a news and lifestyle publisher, is now a part of InsideHook. Together, we’ll be covering current events, pop culture, sports, travel, health and the world. Subscribe here for our free daily newsletter.
Thanks for reading InsideHook. Sign up for our daily newsletter and be in the know.
Suggested for you