Arnault briefly topples Bezos as world's richest man
17-December-2019
Bernard Arnault, Chief Executive Officer of French luxury conglomerate LVMH, claimed the title of the richest man on Earth with a net worth of $109.6 billion, for a brief period.
According to Forbes' Real Time Billionaire rankings, on Monday by 4 p.m. market close, Amazon stock had risen 0.7 per cent. Arnault finished the day with $109.3 billion to his name, compared with Bezos' $110.1 billion.
However, Arnault remains firmly ahead of Bill Gates ($107.8 billion), whom he passed for the number two spot on Friday. Last month, Arnault was able to slide into second place due to rising LVMH stock.
Shares have bounced around since Arnault struck a deal to acquire American jeweller Tiffany & Co on November 25.
Last month, Bill Gates once officially surpassed Amazon CEO Jeff Bezos as the richest person on Earth with a net worth of $110 billion.
The Microsoft co-founder had briefly topped Bezos as the richest man last month after Amazon's lacklustre third quarter results had Bezos losing nearly $7 billion in stock value.IANS
After Six Years of Profitable Bootstrapping, Medulance Raises Rs 25 Crore to Expand Nationally
IIM Grad and First-Generation Entrepreneur Anish Popli's ProcMart Secures Rs 250 Crore in Series B Funding
First Indian Space Tourist Talks Dreams and Inspiration Before Blue Origin Flight
Former MLA Rathod Bapu Rao Switches from BJP to Congress in Telangana
Zerodha Co-Founder Nikhil Kamath Launches 'WTFund' to Support Young Entrepreneurs