For a brief period, Bernard Arnault became the richest man in the world when the shares of his luxury brand business LVMH hit the highest worth of 458.46 dollars. Briefly, he left behind the Richest man in the world, Jeff Bezos.
Bernard: Richest Man for some Time
However, when the markets closed the Amazon stock again rose to .7 percent, leaving him behind again. Arnault by the end of the day had 109.3 billion dollars to his net worth as compared to the 110.1 billion dollars worth for Bezos. However, Arnault remains the second richest man till Friday this week leaving Bill Gates behind.
Arnault Richer Than Bill Gates
There have been instances earlier as well when Arnault beat Bill Gates, for example, several times in November. The stocks of the LVMH have bounced up and down due to which this happened.
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Arnault has done a deal to acquire Tiffany and Co in this November due to which the stocks are up by 4 percent.
A Celebrated Luxury Brand Leader
The Forbes cover of November had featured Arnault where he talked about the initial period of his business in the 1970s and then how he launched LVMH. The brand is an iconic example of the highest standards in luxury and fashion wear. The luxury group includes more than 75 highly popular brands, Louis Vuitton, Christian Dior, to name a few. The conglomerate has a retail chain of over 4590 stores globally.
Tiffany acquisition can make him Richest man again
With the acquisition of Tiffany for 16.2 billion dollars, the group will be amongst the highest valued. LMVH will acquire the most reputed jewelry brand in the US for 135 dollars per share. The deal will close in the middle of 2020, and this acquisition will land up making Arnault richest person in the world once again as per the experts.