Bernard Arnault joins Jeff Bezos, Bill Gates as newest member of world's $100B club
New member of the $100 billion club
FBN's Lauren Simonetti on LVMH CEO Bernard Arnault joining Jeff Bezos and Bill Gates with a net worth of more than $100 billion.
Jeff Bezos and Bill Gates have some competition.
Bernard Arnault officially joined the Amazon CEO and Microsoft founder as the only people in the world worth more than $100 billion, Bloomberg reported on Tuesday, citing its Billionaires Index. Arnault entered the exclusive "centibillionaires" sector Tuesday when luxury goods maker LVMH Moet Hennessy - Louis Vuitton, which he is the chairman of, hit a record 368.80 euros a share.
Bernard Arnault joined Jeff Bezos and Bill Gates to be the only three people with a net worth of more than $100 billion. (Getty Images)
Bloomberg's Billionaires Index pegs Arnault’s net worth at $100.4 billion — with Gates taking the second spot with a total net worth of $106 billion. Bezos still holds the top spot with $119 billion total net worth.
Forbes also placed the French business magnate in the world's $100 billion club, listing his fortune at $100.1 billion as of Sunday.
The LVMH chair is the richest person in Europe. He increased his fortune this year by nearly $32 billion, making his total worth equivalent to more than 3 percent of France’s economy, according to Bloomberg. LVMH posted record sales and profits in 2018, and just last month, the French luxury giant made headlines when Rihanna announced the launch of her new fashion brand, Fenty, with LVMH.
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While he controls about 50 percent of LVMH, Arnault owns a 97 percent stake of the fashion house, Christian Dior.
Arnault beat out Warren Buffett and Mark Zuckerberg for a spot in the $100 billion club. The Berkshire Hathaway CEO is worth about $84.7 billion, while the Facebook founder’s net worth hovers around $73.7 billion.