The Margin: Who is Bernard Arnault, the world’s richest person with a $210 billion fortune?

by | Apr 16, 2023 | Stock Market

The world’s richest person just keeps getting richer. We’re talking about Bernard Arnault, chair and CEO of the LVMH
the French-based corporation that specializes in luxury goods. His net worth increased to $210 billion this week, according to the Bloomberg Billionaire Index, with a gain of $11.6 billion after LVMH’s stock surged following a good first-quarter sales report.

Arnault now has a sizable lead over Elon Musk, formerly the world’s richest person. Musk’s fortune stands at $180 billion, by Bloomberg’s count. But while we seem to know a lot about Musk, from his penchant for keeping guns by his bedside to his surprise appearance at a Dave Chappelle show to his frequent attempts at irreverent humor on Twitter, the 74-year-old Arnault, in contrast, keeps a low profile. Still, it’s not as if the French native has completely escaped public attention. Here are five things we found out about him …Even if you don’t know Bernard Arnault, you know LVMH’s products LVMH is a global leader with many familiar luxury names (or “houses”) in its portfolio. Start with the fashion company Louis Vuitton (the “LV” in LVMH), but also add in such other high-fashion brands as Fendi, Givenchy, Marc Jacobs and Christian Dior. Then shift to the realm of wines and spirits — the Moët Hennessy (or “MH”) side of the company, which includes such top-shelf names as Dom Pérignon Champagne, Glenmorangie Scotch and, yes, Hennessy Cognac. But the LVMH empire also encompasses perfume, cosmetic, watch and jewelry brands, to say nothing of a legendary Parisian pastry shop. LVMH also acquired Tiffany for $15.8 billion in 2021.But Bernard Arnault didn’t begin in the luxury business He studied at an engineering school in France and then worked at his father’s manufacturing company, which eventually moved into the real-estate business. But Arnault found his way into the retail and fashion worlds whe …

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