Jeff Bezos and Elon Musk have been overcome. He is the richest man in the world in France. Bernard Arnault is 72 years old and has a fortune of 186.3 billion dollars according to Forbes. Founder and CEO of LVMH (no – Louis Vuitton Moët Hennessy), the Frenchman surpassed the American rival by 300 million dollars.
Interestingly, the fortune of the French tycoon has increased due to the pandemic Covid-19. “The crises are making us stronger,” he said in late April 2020. In this context, Elon Musk is in 3rd place in the top of billionaires, with $ 147.3 billion. From March 2020 to the present, Arnault’s wealth has increased from 76 billion to 186.3. It is an increase of over 110 billion dollars in 14 months of pandemic.
LVMH also owns Fendi, Christian Dior and Givenchy and increased by 0.4% in the first hours of trading. The group put its market capitalization at $ 320 billion, and Arnault’s personal package was increased by more than $ 600 million. Who would have thought that in the midst of a pandemic, people would buy so many luxury goods? Not all people, of course, but especially those in China, the main market that has increased the fortune of the French billionaire.
Jeff Bezos and Elon Musk were overtaken
Jefferies analyst Flavio Cereda revealed that LVMH recorded revenues of $ 17 billion in the first quarter of 2021, up 32% from the same period in 2020, due to Asian customers. Between March 18, 2020 and May 24, 2021, the net value of what is considered Bernard Arnault’s rival also increased. In the foreground is François Pinault, whose Kering group owns the luxury brands Saint Laurent, Alexander McQueen and Gucci.
Pinault’s fortunes rose from $ 27 billion to $ 55.1 billion. As for another exclusive fashion house, Chanel (controlled by brothers Alain Wertheimer and Gerard Wertheimer, grandchildren of founder Pierre Wertheimer), it must be said that it is worth $ 35 billion.
In 2020, Chanel was worth $ 17 billion in. In turn, Francoise Bettencourt Meyers, the granddaughter of the founder of L’Oréal, enjoyed an increase of almost $ 40 billion in the pandemic, her fortune reaching $ 87.8 billion.
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