Microsoft Corporation’s founder Bill Gates, who had never ranked lower than number two in the list of world’s richest person in last seven years, on Tuesday dropped to the third position behind France’s Bernard Arnault. The current world’s richest person is Jeff Bezos. Arnault is the Chairman and CEO of LVMH Moët Hennessy – Louis Vuitton SE, the world’s largest luxury goods company.
Last month, Arnault joined the $100 billion club when LVMH shares climbed to a record 368.80 euros apiece. On Tuesday, his net worth advanced to $107.6 billion, which is $200 million more than Gates. In 2019, he also added $39 billion to his fortune, the biggest individual gain in the elite list, reported Bloomberg.
Now, the collective wealth of Amazon.com INC founder Jeff Bezos, Arnault and Gates have exceeded the market index of every company in the S&P 500 Index, including Walt Disney Co, Exxon Mobil Corp and Walmark Inc, reported Bloomberg. Interestingly, this year, so far, has been good for the French Tycoons as L’Oréal owner Francoise Bettencourt Meyers & family, and Kering S.A’s Francois Pinault made billions of profit.
In April, Bernard Arnault pledged $226 million for the restoration of Notre Dame Cathedral after a fire ravaged the historic church. On April 15, the cathedral caught fire destroying the lead rood, oak frame and the spire.
