Billionaire Bernard Arnault: The only European in the top 10 richest people in the world



Among the 10 richest billionaires in the world today, 9 are from the US and only billionaire Bernard Arnault is the only person from Europe.

 According to the billionaire ranking of Bloomberg, among the 10 richest billionaires in the world today, there are 9 representatives from the US.  In it, Jeff Bezos - the founder of Amazon leads with a fortune of $185 billion, followed by Elon Musk - CEO of Tesla with $171 billion and Microsoft co-founder Bill Gates with $141 billion.

 The only billionaire in the Top 10 not from the US is Bernard Arnault, the owner of luxury goods empire LVMH.  Arnault currently owns $126 billion, is the 4th richest person in the world.  From the beginning of the year until now, this billionaire who born in 1949 has earned $11.7 billion.

Billionaire Bernard Arnault: The only European in the top 10 richest people in the world

Billionaire Bernard Arnault: The only European in the top 10 richest people in the world / ph: LVMH

 Mark Zuckerberg is also among the top 10 richest people in the world;  Warren Buffett;  Larry Page;  Sergey Brin;  Steve Ballmer and Larry Ellison.  Asia's richest billionaire, Mukesh Ambani, is ranked 11th in Bloomberg's ranking.  Before that, Mr. Ambani also had a moment in the Top 10.

Mr. Bernard Arnault, President and CEO of LVMH (Louis Vuitton Moet Hennessy) was born in Roubaix, France.  His father is an entrepreneur and from an early age Arnault has shown an interest in the business.

 After graduating with an engineering degree at the prestigious Ecole Polytechnique school in France in 1971, he followed his father to run the family's civil construction company at the age of 25. In just a short time, he helped his father create  Positive changes for this business.  However, he later persuaded his father to sell the company and focus entirely on real estate.

 In 1990, Mr. Arnault acquired LVMH and "transformed" the business with a creative, innovative design, contrary to the old and tasteless image of 20 years ago.  To expand LVMH, he also sought to acquire other famous brands.  During the 1990s, he spent billions of dollars buying luxury fashion brands such as Fendi, Kenzo and Thomas Pink;  watch and jewelry makers Chaumet, Zenith and TAG Heuer;  retail chains such as DFS and Sephora.

LVMH is the number one group in the world in luxury products with 70 luxury brands and about 4,000 retailers, operating in 6 prominent areas;  owns brands such as Louis Vuitton, Christian Dior, Givenchy,.. And luxury watch brands such as Bvlgari, Hublot, Zenith and Tag Heuer.

 Since the onset of the COVID-19 pandemic, eyes have been on Bernard Arnault, Europe's richest man.  In previous months, the luxury goods tycoon surpassed Jeff Bezos as the richest man in the world with an estimated net worth of more than $100 billion.

However, by May, that figure plummeted $30 billion after his company's stock, LVMH Moët Hennessy - Louis Vuitton SE, fell 19%.  The reason for this is largely because customers no longer shop for Fendi handbags or Bulgari watches amid the global economic downturn.  Some economic magazines reported that Mr. Arnault had lost as much money as Bezos had earned since the onset of the crisis.

 However, many people still consider Mr. Arnault as a person with unceasing development efforts and recklessness to take great risks.  As LVMH's competitors are cautious, Arnault pushes his corporation to the future with big and bold investments.

Billionaire Bernard Arnault: The only European in the top 10 richest people in the world

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