Bernard Arnault Joins Exclusive Club of $200 Billion Net Worth

Bernard Arnault, the chairman and CEO of LVMH (Louis Vuitton Moet Hennessy), has become the third person in the world to have a fortune of over $200 billion. Arnault’s net worth surged as shares of LVMH rose more than 0.4% in morning trading on Monday, reaching a market value of €320.4 billion ($374 billion).

Arnault’s fortune has more than doubled over the past two years, due to the success of LVMH’s luxury brands, including Louis Vuitton, Dior, and Fendi. According to Forbes, he is now worth $201.7 billion, making him the richest person in Europe and the third richest person in the world, behind Amazon CEO Jeff Bezos and Tesla CEO Elon Musk.

Arnault has been at the helm of LVMH since 1989, when he acquired the company and began transforming it into the world’s largest luxury goods conglomerate. Under his leadership, LVMH has acquired other iconic brands such as Bulgari, Tiffany & Co., and Christian Lacroix.

Arnault has also been known for his philanthropy, with the Arnault Family Group donating millions to support cultural and educational institutions in France, including the Louis Vuitton Foundation and the École des Beaux-Arts.

As Arnault’s fortune continues to rise, it’s clear that his influence in the luxury goods industry will only continue to grow.