Bernard Arnault Surpasses Bill Gates As Second Richest Man In The World

Andrew Cummings
July 20, 2019

The latest claimant of the No. 2 slot, according to Bloomberg's Billionaires Index, is the final man in the $100 billion clubs: Bernard Arnault, chairman, and CEO of LVMH.

Rounding out the top spots on the Bloomberg Billionaires Index are Berkshire Hathaway CEO Warren Buffett, 88 (at No. 4 with $83.9 billion net worth), plus Facebook CEO Mark Zuckerberg, 35, who ranks as the fifth-richest person thanks to a $79.5 billion net worth. However, Pony Ma is still in the fight to overtake Jack Ma for the title this year. Bernard Arnault has taken the second place, as Gates now occupies the third place. That run ended on Tuesday when the Microsoft Corp co-founder dropped to No 3 behind Louis Vuitton's Bernard Arnault.

Meanwhile, Amazon CEO Jeff Bezos retained the top spot on the list.

Arnault has a net worth of almost $108 Billion USD, and according to the Bloomberg Billionaires Index, Bill Gates only has a net worth of $107 Billion USD.

Gates has held the position as the world's second-richest person for the past seven years. Bezos' fortunate is estimated to be 124 billion dollars.

Business Insider previously reported that Arnault's net worth has had a meteoric rise as the luxury-goods sector booms amid increased demand in China.

The luxury goods group had always bragged about its environmental credentials especially when its young shoppers, in particular, had shown a keen fondness for "greener" fashion and.

Were it not for Gatess philanthropic giving, hed still be the worlds richest person.

This includes its popular Moët and Hennessy spirits, Charles & Keith and Givenchy fashion lines, Bvlgari and Hublot watches, and Loewe and Acqua di Parma Perfumes. Within recent years, Gates has sold or given away much of his stake in Microsoft and partly owns over 1% of shares in the tech company he established in 1975. Arnault also has other large investment, including stakes in large web companies such as the popular video streaming service Netflix. There are around 70 brand owned by the conglomerate including Marc Jacobs, Christian Dior, TAG Heuer and Fenty Beauty by singer Rihanna.

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