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