Louis Vuitton CEO Bernard Arnault topples Bill Gates as world’s second richest person

File photo of Microsoft founder Bill Gates. Photograph:( AFP )

WION Web Team NEW DELHI Jul 18, 2019, 11.43 AM (IST)

Microsoft co-founder Bill Gates is no longer the world's second-richest person. 

French billionaire Bernard Arnault, the CEO of luxury goods maker LVMH (LVMHF), overtook Gates on Tuesday on the Bloomberg Billionaires Index. 

This is for the first time in a seven-year run that Bill Gates’s number 2 position has gone on to someone else.

Meanwhile, Amazon CEO Jeff Bezos retained the top spot on the list.

Bernard Arnault now has a wealth of $107.6 billion, which is about $200 million more than Bill Gates. The business conglomerate Bernard Arnault had added $39 billion to his riches in 2019 alone, the biggest wealth gain in that duration among 500 billionaires.

Philanthropy costs Bill Gates second spot

Bill Gates, the co-founder of Bill & Melinda Gates Foundation had donated more than $35 billion to his organisation. According to Bloomberg reports, “were it not for Gates’ philanthropic giving, he’d still be the world’s richest person.”

(With inputs from agencies)

Story highlights

This is for the first time in a seven-year run that Bill Gates’s number 2 position has gone on to someone else.