Following the Forbes World’s Richest Person List has replaced reading baseball boxscores in the newspaper for millions of people. It’s actually become an obsession for some people.
When there is a cosmic shift at or near the top of the list, it becomes very big news, and the staggering rise in fortune of French fashion tycoon Bernard Arnault is truly something to behold.
The man behind LVMH (Luis Vuitton, Moet Hennessy, Bvlgari, Marc Jacobs, Tiffany & Co) has risen to the very top of the list, eclipsing Jeff Bezos by $300 million with a personal net worth of $186.3 billion.
The fact Arnault is No. 1 is not shocking, considering the fact the world is back to shopping and purchasing luxury goods and top shelf spirits and champagne, but what will make your head spin is where he was on the list at the beginning of the pandemic.
In March of 2020, Arnault had a net worth of $76 billion. He’s increased that number by $110 billion in 14 months.
LVMH is thriving, with the stock up 0.4% on Monday and sitting on a market cap at $320 billion. That tiny little bump in the stock price Monday drove Arnault’s personal net worth up over $600 million.
That’s what life is like when you are on the Forbes Richest Person in the World list! Good living for sure!
Where’s Elon Musk on the list you might be asking? His obsession with bitcoin, Dogecoin, flying to Mars and crafting the perfect tweet has dropped him down to No. 3 on the list at $147 billion.
Man, if Musk keeps up this erratic behavior he might find himself only worth about $140 billion or so some day.