Few days ago Bernard Arnault had briefly surpassed Bill Gates to become 2nd Richest person in the world. But, it isn’t true anymore. It was brief and I updated my top 10 richest people in the world list with the necessary details.
On July 17th, 2019 Bernard Arnault overtook Bill Gates to become the 2nd richest person in the world for quite a while. But, as of 23:02 IST he is again at 3rd.– Nicheless.in
The thing is that most of the online media companies are posting the same article now. But, is it really true? Why not give the readers a source to verify your claims? Well, I’ll do that.
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So, here it is: Forbes Real-time Billionaires list. There you can find real-time net worth of Richest people in the world.
At the time of writing this article Bernard Arnault was 3rd richest and Bill gates was 2nd richest. Screenshot:
It’s clear that Bill Gates is about $100 Million richer than Bernard Arnault. But, things may not remain the same at the time when you are reading this article. So, we encourage you to check the Forbes Real-Time Billionaires list for updated data. Moreover, even though Bernard isn’t the 2nd richest person in the world, he is still the richest person in Europe, and has gained a huge boost in his wealth this year. Especially in the last few months.
Who is Bernard Arnault and how did he gain his wealth?
Bernard Arnault is the Chairman and CEO of LVMH, a French Luxury Goods conglomerate. He also owns Christian Dior SE which he purchased from Willot Group in December 1984, after Willot Group filed for bankruptcy.
LVMH or Louis Vuitton SE is owned by the Arnault Family Group. With 46.84% of LVMH’s stock and 63.13% of its voting rights, they are the major shareholders in LVMH.
In 2018 the net revenue of LVMH was €46.826 Billion, and net profit was €6.354 Billion.
Rise of net worth of Bernard Arnault which led him to become 2nd richest person in the world
If you know about stock markets you would know that the stock prices of a company reflect their earnings and future growth prospects. Since LVMH had a good year in 2018 in terms of Revenue and Net Profit, its stock prices have steadily climbed this year. On January 1st LVMH closed trading at €253.30 while on July 22nd, 2019 it is trading at about €383.60. That’s an increase of more than 50% and hence this sudden rise in Bernard’s net worth.
But, as you all know, stock prices are volatile. So, if they fall Bernard Arnault’s net worth also falls and vice-versa. Now, Bill Gates’ net worth is also tied to several stocks including Microsoft, Berkshire Hathaway, etc. If stocks owned by Bill Gates rise, then he would dethrone Bernard and vice-versa. But, this year so far Bernard’s Company has had a very good rally and if it continues like this he could dethrone Bill Gates for longer.
Now that you know more about Beranard Arnault, his business, and whether he really is the 2nd richest person in the world, how about giving us a social share to spread the right information.