What Happened
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The 70-year old Chairman of the luxury fashion brand is now worth $107 billion — above Bill Gates’s $106.9 billion, whose primary source of income remains Microsoft Corporation (NASDAQ: MSFT), a company he co-founded in 1975. ” data-reactid=”20″>The 70-year old Chairman of the luxury fashion brand is now worth $107 billion — above Bill Gates’s $106.9 billion, whose primary source of income remains Microsoft Corporation (NASDAQ: MSFT), a company he co-founded in 1975.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Amazon.com Inc’s (NASDAQ: AMZN) founder Jeff Bezos has remained the world’s richest person with a net worth of $112.2 billion, a significant distance ahead of Arnault.” data-reactid=”21″>Amazon.com Inc’s (NASDAQ: AMZN) founder Jeff Bezos has remained the world’s richest person with a net worth of $112.2 billion, a significant distance ahead of Arnault.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Arnault’s personal growth is driven by LVMH’s impressive performance so far this year. The company reported a 16% growth in revenue in the first three quarters of 2019, earlier in October.” data-reactid=”22″>Arnault’s personal growth is driven by LVMH’s impressive performance so far this year. The company reported a 16% growth in revenue in the first three quarters of 2019, earlier in October.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The French luxury brand is also in talks to acquire the New York-based legacy luxury brand Tiffany & Co. (NYSE: TIF). If finalized, it would be the biggest deal ever signed by Arnault, according to Bloomberg.” data-reactid=”23″>The French luxury brand is also in talks to acquire the New York-based legacy luxury brand Tiffany & Co. (NYSE: TIF). If finalized, it would be the biggest deal ever signed by Arnault, according to Bloomberg.
Why It Matters
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Arnault, a French citizen, is the only person outside of the U.S. to make it to the top five, where Berkshire Hathaway Inc’s (NYSE: BRK-A) Warren Buffet and Facebook Inc’s (NASDAQ: FB) Mark Zuckerberg are the other members.” data-reactid=”25″>Arnault, a French citizen, is the only person outside of the U.S. to make it to the top five, where Berkshire Hathaway Inc’s (NYSE: BRK-A) Warren Buffet and Facebook Inc’s (NASDAQ: FB) Mark Zuckerberg are the other members.
Bill Gates stepped down as Microsoft chairman in 2014 and has mostly focused on non-profit initiatives since then.
He runs the Bill & Melinda Gates Foundation, alongside his wife, Melinda Gates. According to Vox, the Gateses have donated more than $45 billion to the foundation as of April 2019.
Gates also promised to donate more than half of his wealth as part of the Giving Pledge, alongside Warren Buffet, in 2009.
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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.” data-reactid=”35″>© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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