Tesla CEO Elon Musk is no longer the second richest person in the world. His position has been shifted by LVMH luxury goods tycoon, Bernard Arnault as Louis Vuitton boss.
Quoting Forbes, Thursday (22/4/2021), Bernard Arnault managed to be in second place as the richest person in the world with a net worth of US $ 181.3 billion.
Meanwhile, Elon Musk fell to third place with a fortune of US $ 180.6 billion or equivalent to Rp. 2,620 trillion.
While the first position of the richest person in the world is still occupied by Amazon CEO Jeff Bezos with a net worth of US $ 195.8 billion or equivalent to Rp.2,841 trillion.
LVMH Sales Increase in Q1
Reported by Business Insider, Bernard Arnault’s wealth increased thanks to LVMH’s first-quarter sales this year, in which he and his family controlled 47.5% of the luxury goods brand.
LVMH, which owns more than 70 brands including Louis Vuitton, Christian Dior, Fendi, Moët & Chandon, Hennessy and Veuve Clicquot, recorded revenues of around US $ 16.9 billion in the first quarter of 2021, up 32% over the same quarter last year.
Last fall, LVMH completed the acquisition of Tiffany & Co. jewelry. worth nearly US $ 16 billion. The controversial deal comes after several lawsuits, a war of public words and a US $ 400 million discount.
Following the acquisition, Bernard Arnault’s 28-year-old son Alexandre was appointed Executive Vice President of Products and Communications for Tiffany, after serving at the helm of LVMH’s luggage brand Rimowa.
Last June, Bernard Arnault’s 26-year-old son, Frédéric, was appointed CEO of Tag Heuer, a luxury watch brand also owned by LVMH. Meanwhile, his daughter, Delphine, is the Executive Vice President of Louis Vuitton.