Bernard Arnault’s wealth tops $200 billion mark‎

The wealth of French billionaire Bernard Arnault, the richest person in the world, has exceeded the $200 billion mark for the first time, becoming the third richest person in the world to join the $200 billion club, including Elon Musk, CEO of the American electric car maker Tesla, and Jeff Bezos, founder of the e-commerce company, Amazon.

As shares in his French luxury goods empire, LVMH, reached a record high, Arnault’s wealth increased by $2.4 billion on Tuesday to $201 billion, according to the Bloomberg Billionaires Index, which is updated daily. His fortune has increased by $39 billion so far this year as LVMH shares are up 30%, thanks to the growing demand for luxury goods among the world’s wealthy.

The French billionaire’s fortune is $25 billion more than Musk, whose fortune declined through his $44 billion purchase of Twitter and a 50% drop in the value of electric car company Tesla over the past year.

Bezos, who was the first person to reach $200 billion in August 2020, is the third richest person in the world, with a fortune of $128 billion.

It is worth noting that Bernard Arnault is a French billionaire and businessman. He is the founder, chairman and CEO of the Louis Vuitton Group, which specializes in selling luxury goods, which consists of seventy international luxury brands and brands, including Louis Vuitton, Dior, Fendi and Sephora.

In another context, the world’s 25 richest people lost $200 billion of their net worth in 2022, according to Forbes’ 2023 Global Billionaires List released this week. This brings their collective value down to $2.1 trillion as of March 10

It shows the number of billionaires in the world and the size of their wealth. While 254 people lost their status as billionaires last year, the remaining 2,640 billionaires lost about $500 billion.