Bill Gates Has Been Dethroned As The Second Richest Person In The World
For the last two years when you asked: “Who is the second richest person in the world?” the answer would be Bill Gates. But Gates’ reign as the second-richest person on the planet has come to an end. Bernard Arnault is now the second richest person in the world. Luckily for Bill Gates, he has a few dollar bills to wipe away his tears of being overtaken.
Bernard Arnault is the CEO of LVMH, a French luxury conglomerate. Arnault, who is known as “the wolf in cashmere,” owns luxury goods conglomerate that today owns Louis Vuitton, Moët & Chandon, Hennessy, Christian Dior, Givenchy, Marc Jacobs, Fendi, and Celine. LVMH boasts 4,650 retail stores and 70 brands globally, so if it is a super swanky luxury brand, Bernard probably owns it.
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Chaumet in Majesty. Jewels of Sovereign Since 1780 This spectacular exhibition is but one example of the Group’s many treasures in terms of savoir-faire and creativity. After Beijing in 2017 and Tokyo in 2018, @chaumetofficial chose Monaco as the venue for its new exhibition "Chaumet in Majesty. Jewels of Sovereigns Since 1780“. Chaumet invites visitors to rediscover the history of the tiara. Rare pieces, some of them never before displayed in public, have been brought together thanks to loans from museums, prominent families and royal collections. Discover the exhibition at the @grimaldiforum until August 28th. _ #ChaumetMonaco #Chaumet #HighJewellery #LVMH
In January of 2019, Arnault was ranked as the fourth richest person in the world with a net worth of $68.6 billion. Now, in July, Bernard Arnault has a net worth of $107 billion and is the second-richest on the planet. The reason why Bernard has shot up so quickly is because LVMH shares are up over 50% in 2019 thus far. The reason for all of the recent success for LVMH is believed to be from the recent surge of high-end customers from China demanding luxury items.
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Louis Vuitton unveils Louis Vuitton X This immersive journey takes visitors trough the House’s 160-year history of creative exchanges and artistic collaborations. @louisvuitton created a rich, engaging experience and an exhilarating exploration of the Maison’s ongoing dialogue between the past and the future, heritage and modernity, savoir-faire and innovation. #LouisVuittonX #LouisVuitton #LVMH
The 70-year-old Arnault made $39 billion so far in 2019, destroying the competition. Gates has earned $16 billion in the same period while Jeff Bezos has lost a billion. Arnault’s total wealth is now more than 3% of France’s economy.
In 2017, Bill Gates was the richest person in the world, but that was before Jeff Bezos went on an unimaginable run thanks to Amazon and took a commanding lead over the rest of the multi-billionaires. Jeff Bezos has a net worth of $122 billion, far ahead of Arnault and Gates who has a net worth of $106 billion.
This is the first time in the seven-year history of the Bloomberg Billionaires Index that the Microsoft founder was ranked below No. 2 on the most wealthy list.
Warren Buffet is the fourth-richest individual with a net worth of $81.3 billion and Facebook’s Mark Zuckerberg comes in fifth with a net worth of 77.4 billion.