MOSCOW, April 4 — French luxury goods tycoon Bernard Arnault, who heads mega-corporation LVMH Moet Hennessy Louis Vuitton (LVMH), has edged US entrepreneur Elon Musk out of the top of Forbes’ list of the world’s richest billionaires this year, Sputnik quoted the magazine as reported today.
Forbes estimates the 74-year-old to be worth US$211 billion (RM930 billion), versus the tech investor’s US$180 billion.
Arnault had trailed Musk and Amazon founder Jeff Bezos as the third-richest man for the past three years but was able to add US$53 billion to his fortune over the past 12 months, on the back of a 35 per cent rise in LVMH’s stock.
The luxury giant owns more than 70 brands, such as Louis Vuitton, Christian Dior, Tiffany, Sephora, Givenchy, and Marc Jacobs. It made US$86 billion last year, overtaking Musk’s Tesla, with a revenue of nearly US$81.5 billion. — Bernama