World

Bernard Arnault replaces Bill Gates to become world’s second-richest person

Bernard Arnault replaces Bill Gates to become world’s second-richest person: Microsoft co-founder Bill Gates for the first time in the seven year, has been featured two spots lower on the Bloomberg Billionaire Index. Bill Gates in his seven years of history has been ranked second in the Bloomberg Billionaires Index. But now the history has been changed by Louis Vuitton’s Bernard Arnault who dropped Bill Gates to number 3.

With a net worth of $107 billion, Gates now came in the third position. One of the reasons for Gates’ drop in ranking is considered to be the donations of more than $35 billion to the Bill and Melinda Gates Foundation, without which he would have been on the top spot.

Arnault’s luxury-goods maker progressed to a record and increased his net worth to $107.6 billion and ahead of Gates by over $200 million. On Wednesday, the shares extended their gains, which leads to rising of 0.7 per cent at 1:54 pm in Paris. In the year 2019, Arnault alone has added around $39 billion to his fortune, which is the biggest individual gain by far among the 500 people in Bloombergs ranking.

Bernard Arnault world’s second-richest person with $39 billion gains in a year

Amazon chief Jeff Bezos even after having the divorce upheld his top billing with a net worth of $125 billion. As per to the Bloomberg, Jeff Bezos’ fortunes saw an uptick in spite of his divorce with MacKenzie Bezos, which made her the fourth richest woman in the world.

LVMH Moet Hennessy (LVMH) Chairman and CEO Bernard Arnault achieved the second spot, building-up $108 billion. Arnault $39 billion gain in the year 2018 makes him the leading individual gainer on the list.

Last month, Arnault, 70, has also joined Gates and Amazon.com Inc founder Jeff Bezos in the most high-class wealth club when his fortune exceeded $100 billion for the first time.

As per to the Bloomberg, the combined wealth of these three surpasses the individual market values of nearly every single company in the S&P 500 Index that has firms such as Walmart Inc, Exxon Mobil Corp as well as Walt Disney Co on its list.

Francoise Bettencourt Meyers, daughter and heiress of L’Oreal’s Liliane Bettencourt, who is the richest woman, made her spot at the list with Number 10. Alice Walton and woman Jacqueline Mars, who are the second and third richest women are ranked 15th and 19th on the list, respectively.

Talking about India’s richest man, Mukesh Ambani made his spot on the 13th rank, with a net worth of USD 51.8 billion. Azim Premji, who is the second-richest Indian documented his name on the list at the 48th rank with USD 20.5 billion.