According to Forbes, Jeff Bezos is no longer the richest person on the planet. Amazon shares fell 7.6% on Friday after the company reported second-quarter earnings, cutting its founder’s fortune by $ 13.9 billion in one day.
French tycoon and head of Louis Vuitton Moet Hennessy group of companies Bernard Arnault lost $ 2.9 billion in a day, but his fortune of $ 192.9 billion was enough to take first place, ahead of Bezos by $ 500 million. It is worth noting that Berna Arnault has already reached the top of this ranking in May, but only lasted there for a couple of weeks. For the past 50 days, Jeff Bezos has held the title of the richest man on the planet.
Arnault became richer by about $ 100 billion thanks to the rise in Louis Vuitton Moet Hennessy shares during the pandemic. Arnault owns 47% of the company, which has a market capitalization of over $ 400 billion. Subsidiaries include Louis Vuitton, Moet & Chandon, Christian Dior and Tiffany & Co.
To date, Bernard Arnault’s fortune has grown to $ 195.6 billion, and Jeff Bezos has $ 192.8 billion. The third place is held by the founder of SpaceX and Tesla Elon Musk with a fortune of $ 187.1 billion.
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