World Richest Man And  His Net Worth Today

The name Arnault sounds so down when calling why because many have not had the name before, and many people are asking who is him to become number one overnight when people like Gates and other well known are there. is very interesting and as you read more here you will see how he became known overnight isn't magic. The French multimillionaire inherited the business from his father's hand which he changed steps and made work in his own dreams.

Bernard Arnault Is one of the richest men on earth today, and the french multibillionaire is number one of the top wealthiest men on earth. His name rings bells to his business competitors once mentioned, he has been a fixture near top world’s richest Ranks. Even he nabbed the top sport from Amazon’s Jeff Bezos as recently as 2021 before moving aside for Musk. 

Arnault took over his father’s firm in the 1970s and eventually converted it into real estate before moving on to textiles and retail. In 1985, he began building what is known today as LVMH taking 

$15 million from his family business to buy Christian Dior from its bankrupt owners.

It was the time Elon Musk became the first person in history to lose more than $ 200 billion in net worth, that the door opened so wide for a new person to the ranking of the world’s wealthiest one. Musk did not last long as the world's richest person, a little more than a year after reaching the top.  The 73-year-old french billionaire Bernard Arnault, according to analysts on December 20, estimated Arnault’s fortune to be $180.2 billion (£169.8 billion), which is nearly $17 billion more than Musk’s.

Arnault is co-founder, chairman, and CEO of LVMH Moet Hennessy Louis Vuitton, commonly called LVMH. His holding company is its largest stockholder and has a majority of voting rights in the publicly traded company. This is not the first time he attended the position of the richest person in the world, he attained the position in 2019, 2020, and again in 2021. If musk can turn around Twitter quickly, Arnault may not have the title for long, accomplishments are the stuff legend of the Frenchman. 

A Luxury Empire

LVMH is a Paris-based conglomerate made up of 75 separate brands mostly drinks, high-end fashion, and cosmetics. in 2021, it brought in revenues of £64.2 ($68.2 billion) 20% more than in 2019. Fashion and leather goods accounted for 48% of revenue.

The company- the largest luxury firm in the world has over 175,000 employees and 5,500 stores, in November 2022, its market value was around £ 371 billion, according to Statista calculations. Making it one of the most valuable companies in the world ahead of MasterCard, Chevron, and Nestle Compared to others on the world’s richest list, Arnault is lowkey and not well-known outside of french.

In America, Arnault gained attention when he bought famous jeweler Tiffany & co. in 2019 for nearly $16 billion. In Germany, he made headlines in early 2021 when he bought a controlling interest in Birkenstock, though it is unclear how the sandal maker can be turned into a luxury brand. 

How Bernard Arnault makes his money

Over the past three decades, Arnault has turned LVMH into a luxury goods powerhouse with 75 labels selling wine, spirits, fashion, leather goods, perfumes, cosmetics, watches, jewelry, luxury travel, and hotel stays. He was first to open china’s first Louis Vuitton store in Beijing in 1992, Arnault knocked Tesla( ticker: TSLA) CEO Elon Musk from his No. 1 slot on the list of billionaires as of now his net worth is $190.9 billion. Some $15 billion more than Musk’s $175.8 billion fortune according to analysts.

Arnault Net Worth

He is the chief executive of LVMH Moet Louis Vuitton, the world's largest luxury goods company. Arnault is an estimated Net Worth of US$ 182.8 billion as of December 2022.