Tue. Nov 24th, 2020
  • LVMH, the world’s largest maker of luxury goods, brought in a record-breaking $59 billion in revenue in 2019, the company announced this week.
  • The company’s chairman and CEO, Bernard Arnault, is the third-richest person in the world, with an estimated net worth of $97.7 billion, according to the Bloomberg Billionaires Index.
  • Arnault, 70, was the second-richest person in the world for a time when he briefly surpassed Bill Gates in 2019,┬áCNN reported.
  • In November, LVMH finalized a $16.2 billion deal to buy Tiffany & Co. in the company’s largest acquisition ever.
  • Four of Arnault’s five children work at LVMH brands that include Louis Vuitton, Rimowa, Berluti, and TAG Heuer.

LVMH, the world’s largest maker of luxury goods, brought in a record-breaking $59 billion in revenue in 2019, the company announced this week.

Chairman and CEO Bernard Arnault is the third-richest person in the world, with a net worth of $97.7 billion, according to Bloomberg. The French businessman is the richest person in the fashion industry.

Arnault is growing richer at a faster rate than many other billionaires. In 2019, his fortune grew by more than $31.4 billion, according to Bloomberg’s Billionaires Index.

In March 2019, the French billionaire overtook Warren Buffett to become the third-richest person in the world. A few months later, he surpassed Bill Gates to become the world’s second-richest person for a brief period before dropping back to third. And in October, Arnault made $5.1 billion within 48 hours after a surge in share prices of his conglomerate.

By Admin