LVMH Chairman Bernard Arnault overtakes Elon Musk as world’s richest person
LVMH Chairman and CEO Bernard Arnault has claimed the title of world’s richest person, according to Forbes’ Real-Time Billionaires List.
The French businessman has overtaken Elon Musk, who had held the title since September 2021 after knocking Jeff Bezos off the top spot. Arnault's net worth stands at $191 billion at the time of writing, whilst Musk is at $176.8 billion.
Arnault began his professional career as an engineer with construction company Ferret-Savinel, where he was promoted to various executive positions before becoming Chairman in 1978.
He later undertook the reorganisation of Financière Agache in 1984, returning the group to profitability. In the process, he also worked with Christian Dior.
In 1989, Arnault became the majority shareholder of LVMH. He has served as Chairman and CEO of the luxury group since then. Arnault is also President of the Board of Directors at his family holding company, Groupe Arnault S.E.
Today, LVMH owns businesses across Wine & Sprits, Fashion & Leather Goods, Perfume & Cosmetics, Watches & Jewellery and Selective Retailing. This includes brands such as Louis Vuitton, Christian Dior, Fenty Beauty, Maison Francis Kurkdjian and Tiffany & Co.
