- ERIC PIERMONT/AFP/Getty Images
- LVMH CEO Bernard Arnault is currently the third-rich person alive, according to Bloomberg. Only Jeff Bezos and Bill Gates have higher individual net worths.
- Arnault’s fortune grew $5.1 billion between October 9 and 11, Forbes’ Hayley Cuccinello reported.
- Arnault’s net worth is now $96.3 billion, according to Bloomberg.
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Luxury conglomerate LVMH released an earnings report showing strong second-quarter sales on October 9. The ensuing stock surge earned CEO Bernard Arnault $5.1 billion in three days, according to Forbes.
The 70-year-old was the fourth-richest person alive at the start of 2019, according to Bloomberg. Since then, Arnault has made so much money that he displaced both Warren Buffett and Bill Gates to rank second, for a time, on both Bloomberg’s Billionaires Index and Forbes Billionaires List. He has since returned to third place on the real-time Bloomberg ranking.
Most of Arnault’s wealth comes from the 41% stake in LVMH he controls through his company Christian Dior, according to his profile in the Bloomberg’s Billionaires Index. LVMH shares are up over 50% in 2019 so far, according to Forbes.
Here are five facts that put into perspective exactly how fast Arnault’s fortune has grown.
1. In January 2019, Arnault was ranked No. 4 on the lists of the world’s richest people. Fast forward six months to mid-July and he had jumped two major spots, up to No. 2.
- Getty/Pascal Le Segretain
His net worth was $68.6 billion on January 1, according to Bloomberg.
Now, he’s ranked third on the list and his net worth stands at $96.3 billion, according to Bloomberg.
2. In the first three months of 2019, Arnault added over $14 billion to his net worth — roughly the equivalent of drug lord El Chapo’s entire empire.
By March, Arnault had already added over $14 billion to his net worth, pushing his net worth ahead of Buffett’s according to Bloomberg.
Law enforcement estimates that El Chapo’s entire drug empire is worth $14 billion, Business Insider previously reported.
3. Arnault is officially one of only six people to ever rank No. 2 on Forbes’ list of the richest billionaires.
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In July, Arnault overtook Bill Gates to become the second-richest person in the world, Business Insider reported.
Arnault is now one of only six people to ever hold one of the top two spots on Forbes’ billionaires list, according to the magazine. The others are Bezos, Gates, Buffett, Zara cofounder Amancio Ortega, and Mexican telecom magnate Carlos Slim Helu.
4. Arnault has made more money in 2019 than anyone else listed in the Bloomberg Billionaires Index, Bloomberg reported.
Arnault has made almost $28 billion so far in 2019, according to the Bloomberg Billionaires Index.
5. Arnault’s personal wealth gains in the first six months of 2019 are on par with Apple’s App Store and Google Play combined revenue in the same time period.
Arnault’s wealth increased by $39 billion in the first six months of 2019. That’s equivalent to Apple’s App Store and Google Play combined revenue in the first half of 2019, as reported by TechCrunch.