There’s a new name at the top of Forbes’ 2023 list of the World’s Billionaires: luxury goods tycoon Bernard Arnault of France. He has made it to the pinnacle on the back of a banner year at LVMH: revenue, profits and shares all climbed to record highs, helping to add $53 billion to Arnault’s fortune over the past 12 months, the biggest gain of any billionaire this year. The 74-year-old trained engineer makes the 2023 list with a $211 billion fortune, outpacing last year’s No. 1 Elon Musk (now ranked second) by $31 billion, per Forbes’ calculations.
Arnault’s name isn’t nearly as recognizable to the general public as the brands that LVMH owns: Louis Vuitton, Christian Dior, Tiffany, Sephora, Givenchy, Marc Jacobs and more. In the roughly three decades since Arnault gained control of LVMH, he’s turned it into the world’s largest luxury goods company, with more than 70 brands and loyal customers around the globe. Bolstered by pricey acquisitions, revenues have grown from $4 billion in 1989 to $86 billion last year. LVMH’s stock soared 35% over the past year.
Forbes Wealth Reporter Chase Peterson-Withorn sat down with Diane Brady to talk about this year’s list, the top 10 richest people in the world and what trends we saw on this past year.
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Maximize Your Article Marketing Potential With These Suggestions
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