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Arnault Tops Gates to Become World’s Second-Richest Person

  • Frenchman’s fortune eclipsed $100 billion earlier this year
  • Shares of luxury-goods maker LVMH climbed to a record Tuesday
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A surge in wealth is playing out on the Bloomberg Billionaires index. Bloomberg’s Tom Metcalf reports.(Source: Bloomberg)
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Bill Gates has never ranked lower than No. 2 in the seven-year history of the Bloomberg Billionaires Index. That run ended Tuesday when the Microsoft Corp. co-founder dropped to No. 3 behind France’s Bernard Arnault.

LVMH, Arnault’s luxury-goods maker, advanced to a record Tuesday and pushed his net worth to $107.6 billion and ahead of Gates by more than $200 million. The shares extended their gains Wednesday, rising 0.7% at 1:54 p.m. in Paris. Arnault has added about $39 billion to his fortune in 2019 alone, the biggest individual gain by far among the 500 people in Bloomberg’s ranking.