Bernard Arnault
Luxury goods mogul Bernard Arnault has displaced Microsoft Co-Founder Bill Gates as the second wealthiest person in the world.
According to the Bloomberg Billionaires Index, the 70 year old, who is the chairman and chief executive of Louis Vuitton SE or LVMH (LVMHF) broke through to the top 3 ranks last month when his net worth surpassed $100 billion for the first time.
Gates had held steady as the second-richest person in the world — behind Amazon's Jeff Bezos — for seven years.
But Arnault took Gates' spot after LVMH stock surged on Tuesday, increasing his net worth to $107.6 billion.
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