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LVMH supremo Bernard Arnault joins $100 billion club of the world’s richest individuals

Christian Dior : Photocall – Paris Fashion Week – Haute Couture Fall/Winter 2016-2017

Bloomberg has calculated that Bernard Arnault, chairman and CEO of luxury goods conglomerate LVMH, has joined Amazon’s Jeff Bezos and Microsoft’s Bill Games in the $100 billion club.

Mr Arnaut’s wealth was estimated to have exceeded $100,000,000,000 — that is a lot of zeros — in the week LVMH’s shares reached a record 369 euros per share.

The shares are trading at the same level today, up around 50% since the beginning of 2019.

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Watch and jewellery brands make up only a fraction of the LVMH empire, which spans high fashion with Louis Vuitton Dior, Fendi and Givenchy, plus global drinks labels including Hennessy, Krug, and Veuve Clicquot.

Seventy year-old Mr Arnault’s reported wealth has risen by over 30% — around $32 billion — this year.

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Rob Corder

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