NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout

    India
    Business
    World
    Politics
    Sports
    Technology
    Entertainment
    Auto
    Lifestyle
    Inspirational
    Career
    Bengaluru
    Delhi
    Mumbai

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
    Home / News / Business News / Bernard Arnault: Newest entrant in the $100 billion wealth club
    Next Article
    Bernard Arnault: Newest entrant in the $100 billion wealth club

    Bernard Arnault: Newest entrant in the $100 billion wealth club

    By Shubham Sharma
    Jun 20, 2019
    04:40 pm

    What's the story

    Bernard Arnault, the owner of famous fashion brand Louis Vuitton and the richest person in Europe, has joined the elite $100 billion wealth club.

    According to a report in Bloomberg, Arnault's net worth recently touched $100.4 billion, taking the business magnate close to the other two centibillionaires on the list - Jeff Bezos and Bill Gates.

    Here's all about him.

    Milestone

    Arnault's net worth climbed on Tuesday

    Arnault's net worth surpassed the $100 billion mark on Tuesday when the share value of LVMH, the parent company of Louis Vuitton, jumped 2.9% to a record €368.80.

    His net worth has increased by nearly $32 billion over the last few months and now equals more than 3% of France's economy.

    Notably, the soar in his wealth was the largest among top 500 billionaires.

    Wealth

    His businesses and assets

    Born in 1949, Arnault controls half of LVMH, which owns 60 luxury good subsidiaries, including Louis Vuitton, TAG Heuer, and Zenith.

    In addition to this, he also owns a whopping 97% stake in Christian Dior, the fashion house that was founded three years before his birth.

    To note, the appetite for LMVH products has grown significantly, with the company's shares surging 43% this year.

    Information

    How Arnault started out

    Arnault entered the luxury goods business by acquiring the company owning Christian Dior. Then, in 1988, he sold most brands owned by the company and employed the proceeds to buy a controlling stake in LVMH.

    Other players

    Other players in the $100 billion club

    Now, Arnault follows Amazon's founder and CEO Jeff Bezos and Microsoft founder Bill Gates on the list of centibillionaires.

    Bezos sits on top of the chart with a mind-boggling net worth of $119 billion, while Gates has a total net worth of $106 billion.

    To recall, Bezos had also paid $40 billion from his fortune to MacKenzie Bezos in a divorce settlement.

    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Latest

    Latest

    'Bhool Chuk Maaf,' 'Kapkapiii': Movies hitting theaters this Friday Amit Sadh
    Italian villa, Hyderabad mansion: Inside Prabhas's luxurious ₹124cr real-estate empire Baahubali
    You can now 'try on' clothes in Google search Google
    Google rolls out an AI tool for creating videos Google
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2025