According to Forbes Real-Time, this year the fortune of Bernard Arnault, Chairman and CEO of LVMH Moët Hennessy – Louis Vuitton, surged above $237.8 billion. The French tycoon saw his fortune increase by $12.5 billion, a record high, according to the Bloomberg Billionaires Index.
Such a jump occurred after shares of the French LVMH luxury goods empire hit a record high. Earlier, the company reported a 17% rise in revenue to €21.06 billion. As a result, LVMH stock advanced to €883 per share.
The French holding has also topped the ranking of European companies included in the top 10 world’s largest firms by market capitalization. Now, its market cap totals $491 billion.
Bernard Arnault is richer than Tesla, SpaceX, and Twitter CEO Elon Musk. The total fortune of Arnault and his family is estimated at $211 billion. Last year, the figure amounted to $158 billion.
Following the results of the coronavirus crisis in 2022, the French businessman became the only billionaire on the Forbes list whose capital exceeded $200 billion. The net worth of Elon Musk, the leader of last year's rating, totals $180 billion. The luxury tycoon widened the gap from Musk’s fortune to $49.3 billion.
