Bernard Arnault, Chairman of LVMH, Reclaims 2nd Place in Global Billionaires Ranking

Recorded Assets of 152.44 Trillion KRW According to Forbes Billionaires Index

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Bernard Arnault, chairman of luxury giant Louis Vuitton Moet Hennessy (LVMH), has reclaimed the second spot in the global billionaire rankings, CNBC reported on the 11th (local time).

According to the report, Chairman Arnault's wealth surged by $7 billion (approximately 7.78 trillion KRW) in a single day on the 9th, thanks to a sharp rise in stock prices amid growing prospects for a COVID-19 vaccine. Over the past two weeks, his fortune has increased by $16 billion (about 17.8 trillion KRW), an amount equivalent to LVMH's acquisition of Tiffany agreed upon last year.

As a result, Arnault's net worth reached $137 billion (approximately 152.44 trillion KRW), regaining the world’s second place on Forbes' billionaire list, following Amazon CEO Jeff Bezos at $184 billion.

Bill Gates, founder of Microsoft (MS), who was previously second with $119 billion, dropped to third place.

However, according to the Bloomberg Billionaires Index, which uses a different calculation method, Arnault's wealth stands at $103 billion, falling short of Bill Gates' $119 billion, placing him below Gates in that ranking.