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Bernard Arnault Replaces Bill Gates As World’s Second Richest Man - Business - Nairaland

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Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by TITOPE(m): 12:36pm On Jul 19, 2019
Bill Gates has been unseated as the second richest man in the world, losing the position to Bernard Arnault, the chairman and CEO of LVMH.

The News Agency of Nigeria reports that in the latest ranking by Bloomberg’s Billionaires Index, Arnault is in second place with Jeff Bezos still retaining the first place.

Arnault and his family are the majority owners of Christian Dior and LVMH, parent of such brands as Louis Vuitton, Celine, Fendi, Moët, Hennessy, Dom Pérignon, and others.

As LVMH’s share price has soared in 2019, so has Arnault’s worth. It now stands at about $107.6 billion, more than $200 million ahead of Gates, Bloomberg estimates.

The report also stated that Gates would had been ranked the richest person, even ahead of Bezos if not for his philanthropic giveaways which gave Arnault more room to climb.

The French entrepreneur entered the luxury industry in 1984, when he bought Boussac, a textile empire in the midst of bankruptcy that owned Dior.

The famed label by then had deteriorated by licensing its name out to companies producing sub-par products.

Arnault set about reviving it, turning it into a vertically integrated company that did its own production, distribution, and marketing.

He went on to buy up other brands, such as Céline, and in 1988 engineered the deal that made him the majority shareholder of LVMH.

Forbes currently ranks Dior as the world’s largest fashion brand based on sales, profits, assets, and market value.

Meanwhile, LVMH on the whole, keeps attracting customers around the world, with China being the latest highly profitable frontier.


http://www.titopeblog.com/2019/07/bill-gates-loses-worlds-second-richest.html

8 Likes 4 Shares

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by princeFAD: 3:48pm On Jul 19, 2019
Nothing lasts forever except God's kingdom

396 Likes 28 Shares

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by arukwe123(m): 3:48pm On Jul 19, 2019
why nobody want overtake Dangote for Africa. Well, I am doing that soon.

96 Likes 4 Shares

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by ainas247: 3:48pm On Jul 19, 2019
wink most of top10 are from the UNITED STATE of AMERICA.
what a country...

If you have a business rank it to Google page 1
fast chat up now

8 Likes 2 Shares

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by Skelewu: 3:48pm On Jul 19, 2019
Gates and Zukerberg remain my favourite billionaires.

182 Likes 5 Shares

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by Oceannaagent: 3:48pm On Jul 19, 2019
Ok
Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by Ultimatezlant: 3:48pm On Jul 19, 2019
Bill Gates is actually the real richest man if you consider the billions he gives through his foundation.


Money no dey freak am unlike bezos the ripper, that dude would collect almost half the price a freelance hustler places on amazon

319 Likes 17 Shares

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by Nobody: 3:48pm On Jul 19, 2019
The rich they say keep getting richer and the poor?...well you know the rest sad

4 Likes 1 Share

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by samintegrity(m): 3:48pm On Jul 19, 2019
grin

1 Like

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by Cypus01: 3:48pm On Jul 19, 2019
Hard work pays

1 Like 1 Share

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by TheFacelessMan: 3:48pm On Jul 19, 2019
angry

He lost to me.

I own 15 billion cowries cool

31 Likes 2 Shares

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by Skwill: 3:48pm On Jul 19, 2019
Good for him
Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by CotenantNIG: 3:48pm On Jul 19, 2019
I'll soon be there

5 Likes

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by tigerclaws: 3:49pm On Jul 19, 2019
chaiii billy up your game

but i know you can't be poor like dangote cheesy

4 Likes

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by Mammangaddafi(m): 3:49pm On Jul 19, 2019
T
Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by Onlydaughter(f): 3:49pm On Jul 19, 2019
I'm in shock!!!

5 Likes 1 Share

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by willexyaho(m): 3:49pm On Jul 19, 2019
Ok
Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by alonzoiv(m): 3:49pm On Jul 19, 2019
Sweer
Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by CarGuideNG: 3:49pm On Jul 19, 2019
Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by Nerro042: 3:49pm On Jul 19, 2019
Good but Bill gates is damn philanthropic

81 Likes 3 Shares

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by Nobody: 3:49pm On Jul 19, 2019
Bill gate will always be the richest to me.

If you ask me why, I would say let other invest in philanthropy like he is doing and see where they stand.

134 Likes 7 Shares

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by salbis(m): 3:49pm On Jul 19, 2019
Constant thing in life is change. $108 and $107 billion respectively.
Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by Amuluonyenaego: 3:49pm On Jul 19, 2019
6
Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by passyhansome(m): 3:49pm On Jul 19, 2019
WATCH OUT FOR RPN
Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by Juliet11111(f): 3:49pm On Jul 19, 2019
Thank God I’m still the 4th Richest in the world. They can keep dragging the first 3 positions

19 Likes

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by naphunlimited(m): 3:49pm On Jul 19, 2019
All this old people self!
Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by sparko1(m): 3:49pm On Jul 19, 2019
grin
Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by shogsman(m): 3:50pm On Jul 19, 2019
Thanks to the Chinese
Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by Ikem11(m): 3:50pm On Jul 19, 2019
"would have still been the richest if not for his philanthropic way of life" more respect to Bill gate

66 Likes 4 Shares

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by Monaco2(m): 3:50pm On Jul 19, 2019
Bill gates is so humble, I admire him a lot

41 Likes 3 Shares

Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by Daniel207(m): 3:50pm On Jul 19, 2019
FTC. Please why all this money ranking
Re: Bernard Arnault Replaces Bill Gates As World’s Second Richest Man by sellers4buyers(m): 3:50pm On Jul 19, 2019
Interesting

1 Like

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