Bill Gates has been replaced as second World’s richest person.
According to Forbes’ list, CEO of LVMH Moet Hennessy- Louis Vuitton SE, Bernard Arnualt is now the World’s second richest person.
Why?
Bernard is now worth $107 billion while Bill Gates is worth $160.9 billion. The 70-year old owner of the luxurious brand reportedly gets income from different sources while Bill Gates primary source of income is Microsoft Corporation, a company founded in 1975.
Jeff Bezos founder of Amazon.com inc’s however remains the richest man in the universe with the net worth of $112.2 billion giving a great distance with Arnault’s worth.
LVMH has had an impressive performance this year. The company is reported to have had an increase of 16% revenue growth. This has gone a good way to drive Arnault’s personal growth.
This luxurious brand is rumoured to want to merge with the Newyork-based legacy luxury brand, Tifanny & Co. If this happens, this might be the biggest deal ever signed by Arnault according to Bloomberg.
Arnault is actually the first French citizen to make it to the top 5 richest persons in the world outside the U.S.A citizens. We have Facebook Inc and other big organizations he bypassed. That’s worth being applauded.
Bill Gates stepped down as Microsoft Corporation chairman in 2014 to concentrate on doing charity works with his wife. According to Vox, the Gates have donated more than $45 billion to a foundation they run as of April 2019.
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