Bernard Arnault Overtakes Bill Gates As He Becomes Second Richest In The World

Bernard Arnault ranked the second richest man in the world as he over takes Bill Gates, the founder of Microsoft.

After 7 years reign at the No. 2 of the Bloomberg Billionaires Index, Bill Gates has been overtaken by France’s Bernard Arnault on Tuesday. Gates now ranks number 3.

Bernard Arnault is now the world’s second richest person. The luxury goods titan behind brands such as Louis Vuitton and Moet & Chandon is worth US$107.6 billion as of around noon today. In March when Forbes published its annual billionaire rankings, he was the fourth-richest person on the planet. His fortune, which hit $100 billion for the first time in June, has been propelled up by record-setting shares of his conglomerate LVMH, which are up just over 50% since the start of the year.

LVMH, Arnault’s luxury-goods maker, advanced to a record in Paris and pushed his net worth ahead of Gates by more than US$200 million. Arnault has added US$39 billion to his fortune in 2019 alone, the biggest individual gain by far among the 500 people in Bloomberg’s ranking.