Charles Sternberg, Assistant Editor05.27.21
Bernard Arnault, chief executive of LVMH, tops the Forbes Billionaires List today as the world’s richest person after shares in LVMH rose 0.4% this week, increasing Arnault’s personal stake by more than $600 million.
Arnault’s net worth, according to Forbes, is $191.5 billion, placing him above Jeff Bezos, Elon Musk and Bill Gates.
Arnault’s rise to the top is due in large part to the stellar performance of LVMH during the pandemic. Luxury fashion has resisted the economic downturn felt during the pandemic, with LVMH having reported a revenue of $17 billion in Q1 2021 – an increase of 32 percent year over year.
LVMH Beauty brands include: Guerlain, Acqua di Parma, Parfums Christian Dior, Givenchy Paris, Perfumes Loewe, Benefit Cosmetics, Make Up For Ever, Kenzo Parfums, Fresh, KVD Vegan Beauty, Marc Jacobs Beauty, Fenty Beauty and Sephora.
Arnault’s net worth, according to Forbes, is $191.5 billion, placing him above Jeff Bezos, Elon Musk and Bill Gates.
Arnault’s rise to the top is due in large part to the stellar performance of LVMH during the pandemic. Luxury fashion has resisted the economic downturn felt during the pandemic, with LVMH having reported a revenue of $17 billion in Q1 2021 – an increase of 32 percent year over year.
LVMH Beauty brands include: Guerlain, Acqua di Parma, Parfums Christian Dior, Givenchy Paris, Perfumes Loewe, Benefit Cosmetics, Make Up For Ever, Kenzo Parfums, Fresh, KVD Vegan Beauty, Marc Jacobs Beauty, Fenty Beauty and Sephora.
