Bernard Arnault, owner of luxury goods company LVMH Moët Hennessy Louis Vuitton has once again poked his nose out in front as the richest man in the world on Forbes‘ rich list.
Jeff Bezos reportedly lost $13.9 billion (£10 billion) in a single day as Amazon posted lacklustre Q2 results, leading Arnault to reclaim the throne.
The owner of LVMH, which recently took control of jewellery brand Tiffany & Co, has previously held the top spot in December 2019, January 2020, May 2021, and July 2021, Republic World reported.
De Beers and Bulgari are also part of the LVMH empire Arnault has amassed.
Forbes listed Arnault on Wednesday as possessing a $195.4 billion (£140 billion) fortune, while Bezos had $192.4 billion (£138 billion). Elon Musk held the number three spot with $179.4 billion (£129 billion).
LVMH added significantly to its wealth when it bought out Tiffany & Co after a courtship that turned sour, quickly flaring up into a fraught legal battle last year. Read more below: