Bernard Arnault, CEO and majority owner of French luxury group LVMH, has briefly surpassed Amazon founder Jeff Bezos to become the world’s richest person.
As per Forbes, Arnault claimed the top spot with a net worth of $186.4 billion surpassing Bezos whose net worth stands at $186 billion.
The French fashion tycoon has added over $47 billion to his net worth so far in 2021.
LVMH also includes other major fashion brands under it like Fendi, Christian Dior and Givenchy.
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Arnault oversees an empire of 70 brands including Louis Vuitton and Sephora. He owns a 96.5 per cent stake in Christian Dior, which controls 41 per cent of LVMH.
Earlier in January this year, LVMH completed a deal for American jeweler Tiffany & Co for $15.8 billion, believed to be the biggest luxury brand acquisition ever.
Forbes’ Real-Time Billionaires rankings tracks the daily ups and downs of the world’s richest people.
The wealth-tracking platform provides ongoing updates on the net worth and ranking of each individual confirmed by Forbes to be a billionaire.