Bernard Arnault, Chairman and CEO of Louis Vuitton (LVMH) and the world’s richest man, saw his fortune exceed $200 billion as shares of the company hit a record high, as per a report in Guardian. He became the third person ever to reach such heights of personal wealth. The milestone was earlier achieved by Tesla CEO Elon Musk and Amazon’s Founder Jeff Bezos before their wealth declined as the share prices of these technology companies fell.
According to the daily-updated Bloomberg Billionaires Index, Mr Arnault’s net worth rose by $2.4 billion to $201 billion on Tuesday. Due to the soaring demand for luxury goods among the world’s rich, his fortune has increased by $39 billion this year as LVMH shares have increased 30 per cent.
