The CEO of Luxury goods maker Bernard Arnault overtook Bill Gates to become the World’s Second Richest Person. This is the first time in seven years that Bill gates have dropped down from Top 2 position as world’s richest person. Is Microsoft facing a loss or is there some other reason? We will tell you all in this article.
Bernard Arnault now has a net worth of $108 billion while Bill Gates fall short by just $1 billion. Jeff Bezos stands proudly at the top having a net worth of $125 billion. Arnault added $39 billion to his fortune in the previous year which has led him to his current position.
Arnault is currently the proud owner of LVMH. He has been successfully building it into a global luxury powerhouse and enjoys control over brands like Louis Vitton, Christian Dior, and Givenchy. He recently made headlines when he donated $200 million for the rebuilding of Paris Notre Dame Cathedral.
Bernard is not just the world’s third-richest man but also Europe’s most rich person. He holds 3% of France’s economy. That is certainly a really big achievement. He is like the Mukesh Ambani of Europe. He has five children out of which four of them are a part of his empire.
His daughter, Delphine is the executive vice president of the company and perhaps the heiress to it all. A surprising fact about Bernard Arnault is that he studied engineering and served as a chairman for many years in his father’s firm. In the 1980’s he decided to enter the luxury goods business and that tactic has paid off since.
Even though Microsoft has been making good profits, Bill Gates has fallen down to a 3rd position in the world. This would not happen if not for the high amount of donations Bill Gates constantly makes to charities. The software guru has donated so far $35 billion to the Bill & Melinda Gates Foundation.
Well, this was the story of the World’s Second Richest Person. Hope you liked it.
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