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Bernard Arnault is back on top as the richest person in the world.
according to Bloomberg Billionaires IndexArnault made $200 billion for the first time as the share price of his luxury goods company LVMH rose 30%.
Arnaud, 74, is just the third man to earn more than $200 billion. Amazon CEO Jeff Bezos is the first person to reach $200 billion in August 2020. Elon Musk of Terrsa also crossed the $200 billion threshold. At one point, Musk’s net worth had reached his $340 billion.
But Arnaud recently took the top spot from Musk, whose net worth is down $298 million. The two giants have been vying for it for months, going back and forth between being the richest man in the world title.
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luxury goods are hot
according to Reutersthe European luxury goods company has the highest share price in the region in 2023.
Companies like LVHM, which owns brands such as Louis Vuitton, Moët Hennessy and Tiffany & Co., remain popular with the wealthy despite the global recession.
“After surviving the coronavirus lockdown, more people are spending money on luxury goods,” Bernstein’s top luxury analyst Luca Sorca said. new york times“The middle class is suffering and hollowing out. But the wealthy are untouched and the upper middle class is spending on all fronts.”
Arnault capitalizes on this trend. His fortune was pushed to $20 billion on Tuesday alone, with him increasing by $2 billion in 2010. L’Oréal’s CEO, his Frenchman Françoise Bettancourt Meyers, is also successful.she is on top forbes list Estimated net worth of $88.9 billion.
Here are the top five billionaires:
- Bernard Arnault: $201 billion
- Elon Musk: $171 billion
- Jeff Bezos: $126 billion
- Bill Gates: $121 billion
- Warren Buffett: $110 billion