Bernard Arnault, the CEO and chairman of Louis Vuitton SE or LVMH, has consolidated his position as the World's Richest Man with his wealth soaring to $210 billion.
Arnault ended Friday $19 billion richer than a week ago after the luxury goods giant announced a 17% increase in first-quarter sales over last year.
Arnault had surpassed Twitter CEO Elon Musk to take the lead on the rich list in December last year, despite losing more than $7 billion in wealth in 2022.
Who is Bernard Arnault?
Bernard Arnault, popularly called “the wolf in cashmere,” was born in Roubaix, France. According to a media report, he was regarded as a little-known real-estate developer attempting to increase his old French family’s power in New Rochelle when he relocated to the US in 1981.
Arnault first entered the luxury market in 1984 when he purchased an almost insolvent French textile firm that owned Christian Dior.
He eventually bought a majority stake in LVMH, which was formed by the merger of Louis Vuitton and Mot Hennessy, a champagne and cognac producer.
