Business

Bernard Arnault becomes the richest man in the world-Fobes

Bernard Arnault, a fashion industry C.E.O from France with a net worth of $211 billion, has exceeded Tesla founder and CEO of Twitter to end up the wealthiest man on Forbes` 2023 billionaires listing.

According to Forbes, the CEO of LVMH, who’s seventy four years old and oversees a portfolio of more than 70 luxurious manufacturers inclusive of Louis Vuitton, Christian Dior, Givenchy, Tiffany’s, Marc Jacobs, Sephora, and Fenty Beauty, has experience boom in his net worth amongst billionaires this year, including an impressive $53 billion to his fortune over the last 12 months.

Last year, Arnault exceeded the 51-year-antique CEO of SpaceX, claiming the pinnacle spot at the listing with $31 billion more than Musk. For the past 3 years, he has been on 3 at the Billionaires listing in the back of Musk and Amazon founder Jeff Bezos.

The Frenchman first made the Forbes listing in 1997 when he was worth $3.1 billion and rose through the ranks in the years following till he hit the top 5 richest people in 2011.

He has been at the head of LVMH for nearly 3 decades and have helped develop the posh items business revenue from $4 billion in 1989 to $86 billion last year, according to the outlet. Stock in the business soared 35% over the last year.

Arnault has maintained faithful clients through long-status and respected design houses like Louis Vuitton and Dior whilst increasing the business with new cutting-edge manufacturers like Rhianna`s Fenty Beauty which released in 2019.

In January, the septuagenarian appointed his 47-year-antique daughter, Delphine Arnault, as the CEO of Dior, as he prepares for succession amongst his 5 children.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *