Frenchman Bernard Arnault, chairman and CEO of luxury goods giant LVMH Moët Hennessy Louis Vuitton, topped the list of the world’s richest people, beating Jeff Bezos on Monday.
Arnault’s fortune reached $ 186.3 billion, on Monday, surpassing Amazon founder Jeff Bezos, who recorded $ 186 billion worth at that time, according to continuously updated Forbes magazine data.
But on Tuesday, Bezos returned to the top with a net worth of $ 188.2 billion, compared to $ 187.5 billion for Arnault and his family, and Elon Musk, CEO of Tesla, came in third with a net worth of $ 152.5 billion.
Arnault’s superiority reflects the significant rise in the share price of “LVMH”, as well as the poor performance of technology shares in 2021 after their outperformance in 2020, and the value of the shares of the French billionaire company rose by 25% this year.
The company recorded a 32% increase in revenue during the first quarter, driven by the fashion and leather goods sector. The company’s market value has reached $ 320 billion, and Arnault’s fortune has increased by $ 110 billion since March of last year.
Last month, United Nations Secretary-General Antonio Guterres said that the total wealth of the world’s wealthy increased by $ 5 trillion during 2020, compared to 2019.
He continued: “I appeal to governments to take into account imposing taxes on the wealthy, whose fortunes have increased during the pandemic, to emphasize the importance of providing the necessary financing for the people most in need.”