Daily Management Review

Dior owner tops list of world's richest billionaires


Owner of Dior and Louis Vuitton has overtaken the founder of Amazon to top the list of the world's richest billionaires, updated in real time. His fortune has grown by more than $110bn since March last year.

Jérémy Barande
Jérémy Barande
Bernard Arnault, the head of the LVMH holding company that owns Louis Vuitton and Dior, became the richest man in the world, surpassing Amazon founder Jeff Bezos. This was reported by the American Forbes. 

Arnaud's fortune is estimated at $186.3bn, while Bezos' fortune is estimated at $186bn, with Tesla and SpaceX founder Elon Musk in third place with a fortune of $147.3bn. 

Since March 2020, Arnault's fortune has grown by more than $110 billion, notes Forbes USA. This was helped by LVMH's strong performance despite the coronavirus pandemic. In the first quarter of this year, the holding company received €14 billion in revenue, which is 32% higher than the same period in 2020. This was helped by the "momentum" provided by customers in China, writes the American Forbes citing a Jefferies analyst. 

The example of Arnault and LVMH reflects the "remarkable rise" of European fashion and luxury companies during the lockdown period, Forbes USA notes. The fortune of François-Henri Pinault, whose Kering Group owns Saint Laurent, Alexander McQueen and Gucci, has risen from $27bn to $55.1bn since March 2020. The fortunes of Chanel's owners, brothers Alain and Gerard Wertheimer have more than doubled since last year to $35bn and the fortune of Françoise Betancourt-Meyers, granddaughter of the founder of L'Oréal, has increased by almost $40bn to $87.8bn.

Arnault was already at the top of Forbes' world ranking for a few minutes when he overtook Bezos in December 2019. In January 2021, Elon Musk also briefly topped the list.

source: forbes.com