Owner and CEO of many companies such as Tesla, SpaceX, Neuralink and Twitter, Elon Musk was known as the richest person in the world. But as the market values of these companies fell, Musk’s non-physical wealth melted away. Here is the richest person in the world…
Bernard Arnault, the richest person in the world for the 2nd time!
At the time when the values of Tesla and SpaceX reached the highest level, the net worth of CEO Elon Musk, who owned the majority shares of these companies, increased to 340 billion dollars. But in this period, when the US stock market has been in decline for a year and companies such as Amazon, which reached a value of $ 1.8 trillion, declined to $ 800 billion, Musk’s fortune also melted.
According to the share made by Forbes, Musk’s fortune has decreased to $ 185.3 billion. Bernard Arnault, who briefly surpassed Jeff Bezos in 2019 to become the richest person in the world, became the richest person in the world for the second time with his assets of $ 185.6 billion.
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Who is Bernard Arnault?
Born in 1949 in Roubaix, France, 73-year-old French businessman Bernard Arnault began his career in 1971 working for his father’s company, Ferret-Savinel. He assumed the management of the company from 1974 to 1984.
He later bought Financière Agache, a luxury goods company, and took over as its head. Immediately after him, he bought Boussac Saint-Frères, which was in administrative turmoil at that time. But he sold all other assets of the company, except Christian Dior and Le Bon Marché.
In 1988, he bought 24 percent of LVMH’s shares, making a $1.5 billion deal with Guinness to establish a holding company. He then noticed early on the Louis Vuitton group’s move to take over and bought another 13.5% stake in LVMH for $600 million.
Finally, in January 1989, he spent another $500 million to gain control of 43.5 percent of LVMH’s shares and 35 percent of voting rights. In this way, he both prevented the disintegration of the company and took the ropes by taking the lead.
Companies owned by Bernard Arnault
More than 60 world-famous companies under the roof of LVMH, of which Bernard Arnault is the majority shareholder and CEO, include watch and fashion-wear brands such as TAG Heuer, Louis Vuitton and Hublot, as well as retail stores such as Metro market. .
All known companies under the umbrella of LVMH
| Company | Sector |
|---|---|
| Moet & Chandon | Wine and Hard Drinks |
| Dom Perignon | Wine and Hard Drinks |
| Krug | Wine and Hard Drinks |
| Mercier | Wine and Hard Drinks |
| Ruinart | Wine and Hard Drinks |
| Veuve Clicquot | Wine and Hard Drinks |
| Château d’Yquem | Wine and Hard Drinks |
| Hennessy | Wine and Hard Drinks |
| Glenmorangie | Wine and Hard Drinks |
| Ardbeg | Wine and Hard Drinks |
| 10 Canes | Wine and Hard Drinks |
| Belvedere Vodka | Wine and Hard Drinks |
| wenjun | Wine and Hard Drinks |
| Domaine Chandon California | Wine and Hard Drinks |
| Domaine Chandon Australia | Wine and Hard Drinks |
| Bodegas Chandon | Wine and Hard Drinks |
| Cloudy Bay | Wine and Hard Drinks |
| Cape Mentelle | Wine and Hard Drinks |
| Terrazas de los Andes | Wine and Hard Drinks |
| Cheval des Andes | Wine and Hard Drinks |
| Numanthia | Wine and Hard Drinks |
| Newton | Wine and Hard Drinks |
| Fendi | Fashion Clothing and Leather Products |
| Donna Karan | Fashion Clothing and Leather Products |
| Givenchy | Fashion Clothing and Leather Products |
| Kenzo | Fashion Clothing and Leather Products |
| Berluti | Fashion Clothing and Leather Products |
| Louis Vuitton | Fashion Clothing and Leather Products |
| Marc Jacobs | Fashion Clothing and Leather Products |
| Loewe | Fashion Clothing and Leather Products |
| Celine | Fashion Clothing and Leather Products |
| Emilio Pucci | Fashion Clothing and Leather Products |
| Parfums Christian Dior | Perfume and Cosmetics |
| guerlain | Perfume and Cosmetics |
| Kenzo Parfums | Perfume and Cosmetics |
| Parfums Givenchy | Perfume and Cosmetics |
| Perfumes Loewe | Perfume and Cosmetics |
| Acqua di Parma | Perfume and Cosmetics |
| fresh | Perfume and Cosmetics |
| Make Up For Ever | Perfume and Cosmetics |
| Benefit Cosmetics | Perfume and Cosmetics |
| TAG Heuer | Watches and Jewelry |
| Zenith | Watches and Jewelry |
| Hublot | Watches and Jewelry |
| Chaumet | Watches and Jewelry |
| Fred | Watches and Jewelry |
| Dior | Watches and Jewelry |
| Sephora | Selected brands retail outlets |
| DFS | Selected brands retail outlets |
| Le Bon Marché | Selected brands retail outlets |
| Miami Cruiseline Services | Selected brands retail outlets |
| METRO | Retail at Wholesale Price |
Bernard Arnault became the richest person in the world for the second time. What do you think about this subject? Don’t forget to share your views with us in the comments!