LVMH boss Bernard Arnault's wealth soared over $200 billion, making him the third person ever after Elon Musk and Jeff Bezos to reach the milestone
, the CEO and cofounder of LVMH Moët Hennessy Louis Vuitton, is the richest person in the world — and has just reached a new financial milestone.
Arnault's net worth climbed over $200 billion on Tuesday, making him the third person ever — after Tesla CEO Elon Musk and Jeff Bezos, the founder of Amazon — to reach attain that level of wealth, according toArnault derives his wealth from a 97.5% stake in luxury fashion brand Christian Dior holding company which, in turn, controls 41.4% of. His net worth gained $2.4 billion on Tuesday, bringing the Frenchman's fortune to $201 billion, per Bloomberg's index.
LVMH shares on the Euronext Paris stock exchange closed 0.8% higher at 851 euros, or $932.30, on Tuesday. The stock is up about 25% this year.The French tycoon's net worth has doubled since the beginning of 2020 amid strong demand for luxury goods asThis robust appetite for luxury goods is helping LVMH, which owns a range of luxury fashion brands including leather goods maker Louis Vuitton, jeweler Tiffany & Co., and watchmaker TAG Heuer.
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