Personal assets leapt to the third place in the world Louis Vuitton boss became the first billionaire in France

Due to the rise in corporate stock prices, Bernard Arnold, Chairman and CEO of Moet Hennessy Louis Vuitton Group, has become the world's third largest personal wealth and has become the first person in French history to reach $100 billion. 

According to the latest statistics from the Bloomberg Billionaires list, the assets of Bernard Arnold, the founder of the Moet Hennessy Louis Vuitton Group in France, exceeded 100 billion US dollars (about 89.3 billion euros) for the first time, ranking first among the world's billionaires. His ranking has surpassed Warren Buffett.

French commercial FM TV reported that Bernard Arnault seems to be marching into the position of the world's richest man, because his personal wealth has approached the current world's richest man - Amazon founder and CEO Jeff Bezo Sis. Bezos’s assets amounted to $119 billion, and Microsoft Group co-founder Bill Gates followed suit with $106 billion. Louis Vuitton's new bag is decorated with a flexible AMOLED screen.

The report said that Bernard Arnold’s 100 billion dollar net worth also created history in France. If all the assets under his name are realized, he can already buy 4% of the French public debt on his own, which vividly explains the concept of “rich enemy”.

Due to stock price changes, Bernard Arnault’s personal assets increased by 2.88 billion U.S. dollars on June 18, and its total wealth increased by 32 billion U.S. dollars this year. As a result, he also became the second person in 2019 to grow wealth second only to Jeff Bezos.

The luxury empire led by Bernard Arnault is eye-catching in the global market. The products of Louis Vuitton bags, Hennessy brandy, and Don Perry Champagne, which are owned by Moet Hennessy Louis Vuitton Group, have been selling well. In 2018, the group's global sales revenue climbed 10% and sales reached 46.8 billion euros.

The report said that it is particularly important for the group to cultivate a new customer base among consumers belonging to the so-called “millennial generation” (the younger generation born between 1980 and 2000). These young customers contribute 40% to 50% of the Louis Vuitton brand sales. The above phenomenon is the main reason why the group's stock is sought after by investors and the personal wealth of Bernard Arnault has soared.