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Louis Vuitton's Bernard Arnault displaces Jeff Bezos as world's richest man
French billionaire Bernard Arnault has become the world's richest man, displacing Amazon founder Jeff Bezos, whose net worth dropped by $13.9 b. His luxury goods conglomerate Louis Vuitton Moet Hennessy (LVMH) owns an empire of 70 brands. LVMH is headquartered in Paris.

PARIS, Aug 7: French billionaire Bernard Arnault of Louis Vuitton has become the world's richest man, displacing Amazon founder Jeff Bezos from the top slot. His net worth is $197.5 b, after a massive rise of over $110 b in the past over 12 months. However, he became the richest because Bezos' net worth dropped by $13.9 b.

The Chairman and CEO of the Louis Vuitton Moet Hennessy (LVMH), his family-run group, owns an empire of 70 brands. LVMH is a French conglomerate specializing in luxury goods, headquartered in Paris.

In January 2021, LVMH acquired American jeweller Tiffany & Co for $15.8 billion, one of the biggest luxury brand deals. Christian Dior was bought in 1985. Luxury hospitality Belmond owns 46 hotels, trains and river cruises. LVMH owns household names like Fendi, Christian Dior and Givenchy.

Bernard Arnault has led the list earlier too: In December 2019, January 2020, May 2021 and July 2021.

Bernard Arnault claims, "I see myself as an ambassador of French heritage and French culture. What we create is emblematic. It's linked to Versailles, to Marie Antoinette."

Bernard Arnault's LVMH empire includes Givenchy, Guerlain, Marc Jacobs, Sephora, Tiffany & Co., Emilio Pucci, Fendi, Loro Piana, Nicholas Kirkwood, Thomas Pink, R.M Williams, EDUN, Moynat, Donna Karen, TAG Heuer, De Beers and Bulgari.

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