LVMH chairman and CEO Bernard Arnault has joined the 'centibillionaires' club. Never heard of that term before? Neither had we, but we suppose it's probably due to the fact that it only has three members.
Just three. Only three individuals in the world have a net worth north of US$100 billion. Let that sink in for a moment.
Arnault scraped in on Tuesday when LVMH’s stock jumped 2.9 per cent (€368.80 EUR), confirming his revised net worth of US$100.4 billion, roughly 3 per cent of France's economy.
To no one's surprise, Amazon CEO Jeff Bezos is still the king of the castle with US$157.54 billion (his divorce settlement doesn't come into effect until July), followed by Bill Gates, who's not that far above Arnault himself, sitting on US$103.05 billion, according to Forbes' real-time billionaires list.
LVMH’s success this year has attributed to a wealth increase of $32 billion USD for Arnault this year alone.