The owner of LVMH becomes the 3rd person in the world with a net worth exceeding $200 billion
- 138
- Business
- 01:11 08/04/2023
DNHN - The fortune of the businessman behind the LVMH Group grew by $2.4 billion on April 4, according to data from the Bloomberg Billionaires Index, to reach $201.1 billion.
According to Bloomberg, Bernard Arnault's fortune has officially surpassed $200 billion. After Elon Musk and Jeff Bezos, he becomes the third person in the world to accomplish this feat.
The fortune of the businessman behind the LVMH Group grew by $2.4 billion on April 4, according to data from the Bloomberg Billionaires Index, to reach $201.1 billion. He is also the first non-American to accomplish this.
In December 2022, billionaire Arnault surpassed electric car billionaire Elon Musk to ascend to the "throne" of the world's wealthiest billionaires. Mr. Musk's fortune was impacted by the controversies surrounding the Twitter deal, which caused Tesla shares to decline.
In the meantime, with the LVMH Moet Hennessy Louis Vuitton empire, Arnault's net worth has steadily risen as the global demand for luxury goods has remained stable. The share price of LVMH is currently at an all-time high due to the group's announcement last month that it would repurchase 1.5 billion euros ($1.6 billion) of LVMH shares.
In addition to achieving record sales of 79.2 billion euros (over 86 billion USD) last year, the "golden egg" Louis Vuitton is estimated to have generated 20 billion euros in revenue alone (21 billion USD).
Mr. Arnault, a native of Roubaix, Northern France, graduated from the premier technical school Polytechnique. His family business, Ferret Savinel, was in the construction industry, and he worked there after graduating. He moved to the United States in 1981 and invested in real estate development. However, three years later he returned to France and began his foray into luxury with the purchase of the bankrupt textile company Boussac Saint-Freres, which owned a jewel: the Christian brand Dior.
Mr. Arnault sold the majority of the company's other businesses and used the proceeds to acquire a controlling stake in LVMH. In 1987, the LVMH group's two largest companies, Louis Vuitton and Moet Hennessy, merged. Over the next three decades, the French billionaire transformed LVMH into an "empire" specializing in the sale of luxury goods. Champagne, wine, spirits, fashion, leather goods, jewelry, fragrances, and cosmetics are available in over 5,000 locations worldwide.
Until now, the fashion and leather goods industry has contributed the most to the group, and this proportion has been steadily rising. Specifically, Louis Vuitton and Dior are the brands with the greatest growth and revenue contribution.
Additionally, the sales reports for Dior and Tiffany's first quarter will be released later this month, respectively.
Mr. Arnault cannot, despite his success, avoid failures in life. As a result of his failed attempt to acquire Hermès, this businessman was once dubbed a "wolf in a cashmere suit."
According to Reuters, Arnault first appeared on Forbes' list of billionaires in 1997, when he was worth $3.6 billion. In 2005, he entered the top 20 list of the world's wealthiest individuals with a net worth of USD 17 billion. In 2011, he ranked fourth with $41 billion in wealth.
Phuong Anh (t/h)
Related news
- Are Vietnamese firms overlooking their most valuable “gold mine”?
- Iran Conflict and the “Double Shock” to the Global and Vietnamese Economies
- After 8 years and trillions sent abroad, are uST investors caught in a risky no-exit situation?
- When Cryptocurrency leaves the "Grey Zone": How are Vietnamese investors seeking profits?
- When the tech unicorn dream is undermined by reckless fundraising structures
- From New Year messages of World Leaders to the “new rules” of the Global economy in 2026
- Connecting Leaders, Shaping the Future: Strategic Leadership Planning Meeting – CorporateConnections Hanoi A
- Sunlight - Unilever Vietnam Recognized for Outstanding Contributions to the National Initiative Supporting Women Entrepreneurs
- Deputy Prime Minister Nguyễn Chí Dũng: “The country’s major challenges weigh heavily on my mind — and we must resolve them together.
- Unitsky String Technologies signs cooperation agreements with three Vietnamese partners, opening a new direction for smart mobility and sustainable development
- When artists do business – livelihood is no poetry!
- Before the D‑day to abolish flat‑rate tax: Fear of technology and costs leave small traders struggling to adapt
- Vietnamese enterprises at a crossroads: the impact of a potential US–China deal
- "Digital technicians" must not be forgotten if Vietnam aims to meet its strategic goals
- HDBank: Impressive profit growth, leading in profitability and advancing international integration
- TNI King Coffee sued for over VND 5 Billion in unpaid debts
- VINASME and Jeonnam Technopark Sign MOU on technology cooperation, human resource training, and trade promotion
- Vietnamese entrepreneurs strengthen ASEAN connectivity in the digital iIntegration era
- Vietnam upgraded to Secondary Emerging Market by FTSE Russell
- Hanoi’s economy grows 7.92% in first nine months of 2025, FDI surges nearly threefold
Đọc thêm Business
What truly defines corporate value in a rapidly evolving digital era?
In the digital age, corporate value is no longer confined to tangible assets but increasingly resides in brand equity, data, and knowledge - intangible assets that ultimately determine competitive strength.
Are Vietnamese firms overlooking their most valuable “gold mine”?
In the digital economy, corporate value no longer primarily resides in factories or machinery. A growing body of research highlights a fundamental shift in how value is created.
Iran Conflict and the “Double Shock” to the Global and Vietnamese Economies
The outbreak of conflict in Iran since late February 2026 is sending significant shockwaves through the global economy.
After 8 years and trillions sent abroad, are uST investors caught in a risky no-exit situation?
The article “When the Tech Unicorn Dream Is Undermined by Careless Capital-Raising Funds” pointed out legal risks and financial structural issues in the fundraising model related to the uST ecosystem.
When Cryptocurrency leaves the "Grey Zone": How are Vietnamese investors seeking profits?
From a market operating in the "grey zone," cryptocurrency in Vietnam is entering a phase of reshaping as a series of Government orientations, decrees, resolutions related to digital assets, financial security.
When the tech unicorn dream is undermined by reckless fundraising structures
A green transport technology project in Belarus, thousands of kilometers from Vietnam has continued to attract capital from a significant number of Vietnamese investors.
From New Year messages of World Leaders to the “new rules” of the Global economy in 2026
At a pivotal moment of transition, New Year messages from capitals such as Hanoi, Beijing, Washington and Paris reflect distinct priorities and strategic visions.
Connecting Leaders, Shaping the Future: Strategic Leadership Planning Meeting – CorporateConnections Hanoi A
"Your network is your most powerful flowing asset. It generates value, multiplies opportunities, and accelerates your influence across borders."
Innovative ESG enterprise: Trạm Xe Việt startup proposes solutions to build a green mobility ecosystem
As Vietnam commits to achieving Net Zero by 2050 and tightens emissions standards, the transportation sector faces unprecedented pressure to transform.
Deputy Prime Minister Nguyễn Chí Dũng: “The country’s major challenges weigh heavily on my mind — and we must resolve them together.
On the morning of November 26, 2025, Deputy Prime Minister Nguyễn Chí Dũng chaired a high-level working session at the National Innovation Center (NIC) in Hòa Lạc.