Bernard Arnault Regains Crown As World’s Richest Person

Estimated read time 2 min read
  • Bernard Arnault is the CEO and cofounder of the luxury conglomerate LVMH.
  • Bloomberg lists his fortune at $197 billion, putting him at the top of its billionaires index.
  • The title often bounces between Arnault, Jeff Bezos, and Elon Musk.

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Bernard Arnault, the CEO of LVMH, has once again been ranked by Bloomberg as the world’s richest person, with a reported fortune of $197 billion, snagging the title from Jeff Bezos.

The former Amazon CEO spent just a few days at the top spot, a title he regained for the first time since 2021. As of Thursday, his fortune has been eclipsed by Arnault by $1 billion, according to the Bloomberg Billionaire Index, which is updated daily.

The title of richest person often alternates between Arnault, Bezos, and Tesla CEO Elon Musk.

Until last week, Bloomberg listed Musk as the world’s richest person, but his fortune has since dropped to $189 billion as Tesla’s stock has declined. Preliminary data from the China Passenger Car Association indicated that the company had achieved its lowest month of sales in China last month.

Arnault serves as the CEO and chair of the French luxury conglomerate LVMH.

Since he cofounded the company in the 1980s, he’s built his fortune by amassing a range of luxury companies across fashion, jewelry, watches, perfume, and alcohol, including well-known brands such as Louis Vuitton, Tiffany & Co, and Dom Pérignon.

His 97.5% stake in the luxury fashion house Christian Dior accounts for most of his fortune, per Bloomberg.

In 2023, he appointed his daughter, Delphine Arnault, as the CEO and chair of Dior, and his four other children also work for LVMH and its brands.

In 2022, Arnault, who is 75 years old, convinced LVMH’s board to raise the company’s mandatory retirement age to 80, giving him another five years to decide who will take over his luxury empire.