Jeff Bezos slips from the world’s richest position, Bernard Arnault becomes the new richest man

Jeff Bezos slips from the world’s richest position, Bernard Arnault becomes the new richest man

The giant ecommerce business CEO Jeff Bezos is no longer richest person on this planet. The number one position has been taken over by Bernard Arnault, the chief executive of luxury goods behemoth LVMH.

Recently, Bezos net worth has been slipped by $761 million in the last trading session which is approximately 0.65% of his total Jeff’s net worth. The 0.65% drop seems according to his net worth but it was enough for Bernard Arnault to take over the number one position.

According Forbes, The planet’s new richest person (again): Bernard Arnault, the chief executive of luxury goods behemoth LVMH. Arnault gained $1.9 billion in net worth on Friday as LVMH stock edged up by 0.7%. The Frenchman is currently worth $117 billion, up from $102 billion when he graced the cover of Forbes less than four months ago. “If you compare us to Microsoft, [we are] small,” Arnault told Forbes. “It’s just the beginning.” 

Bernard Arnault is the world's richest person
Bernard Arnault is the world’s richest person (Credit: Forbes)

Arnault is $7 billion richer than Microsoft cofounder Bill Gates, who remains the third-wealthiest person in the world, behind Arnault and Bezos. Gates would be richer than both men had he not given $35.8 billion, and counting, to charity over his lifetime.

Arnault’s LVMH has hit the ground running in 2020. This week, its beauty incubator, Kendo, acquired the rest of Kat Von D’s eponymous beauty brand. And LVMH also bought a tennis ball-sized rough diamond — the second-largest in history — from Lucara Diamond Corp on Wednesday. The 1,758-carat gem is a timely splurge, since LVMH made a $16.2 billion bid to buy iconic jeweler Tiffany & Co. in November. Tiffany shareholders are due to vote on the deal on February 4.

Amazon also going to invest $1 billion in India to digitize the small and medium business, he also said that this investment will create 1 million jobs on coming 5 years, and recently Jeff Bezos met with top Indian industrialist on the last day of his India tour.

(This story has been partially edited source: Forbes)