WHAT’S BEING CLAIMED:
- No longer 2nd in rank, Microsoft founder Bill Gates was beaten by LVMH CEO Bernard Arnault as the second richest person in the world.
- According to the Bloomberg Billionaire index, Arnault whose net worth stands at $108 billion is ranked higher than Gates who has a net worth of $107 billion.
- Arnault is also listed as the richest person in Europe and has donated millions to help reconstruct the Notre Dame Cathedral.
Bill Gates no longer holds the No.2 ranking among the world’s richest people.
On the Bloomberg Billionaire index on Tuesday, Gates, 63, was outranked by Bernard Arnault, CEO of LVMH, the largest luxury- goods company in the world.
With a current net worth of $108 billion, Arnault, 70, is now ranked No.2 which puts him above Microsoft founder Gates, who now holds the third top spot with a net worth amounting to $107 billion, reports the index.
Ever since a $13.1 billion buy-out was reported in 2017, Arnault has become Christian Dior SE’s majority shareholder. As LVMH’s powerhouse holding company, its brands include Louis Vuitton, Dior, Marc Jacobs, Céline, Thomas Pink, Moët & Chandon, Hennessy, Dom Pérignon, Bulgari, Fenty Beauty by Rihanna and Sephora.
Furthermore, Arnault is also Europe’s richest billionaire, followed closely by the 6th ranked Inditex fashion group founder and proud owner of the Zara chain, Amancio Ortega of Spain.
The French businessman also donated $226 million to help rebuild the Notre Dame Cathedral after it was recently torched, together with two others of France’s wealthiest families.
Yet, despite Arnault’s boosted net worth over the year, Amazon CEO Jeff Bezos, 55, with a net worth of $125 billion, still holds the No. 1 spot, according to Bloomberg.
Other top spots on the Bloomberg Billionaires Index belong to Berkshire Hathaway CEO Warren Buffett, 88 at No. 4 with net worth of $83.9 billion, and Mark Zuckerberg, 35, Facebook CEO who thanks to a $79.5 billion net worth, he is now ranked the fifth-richest person in the world.
Bloomberg contends that Gates can actually top the list if not for his donations to charity. More than $35 billion have been donated by Gates and his wife Melinda to the Bill and Melinda Gates Foundation, which promotes healthcare, helps reduce poverty, and provides more access to information technology.