Billionaire Arnault Loses Spot as World’s Second-Richest Person to Bezos

Luxury tycoon’s fortune has shrunk by $6.8 billion recently
Amazon surge has added $49.3 billion to Bezos’s wealth in 2023

Arnault Loses Spot as World's Second-Richest to Bezos

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By Jordan Fitzgerald

October 16, 2023 at 8:44 PM UTC

This article is for subscribers only.

Bernard Arnault lost his spot as the world’s second-richest person as a selloff in luxury stocks pushed his net worth below that of Amazon.com Inc.’s Jeff Bezos.

Arnault is founder and chief executive officer of LVMH, the French luxury powerhouse that includes brands such as Louis Vuitton and Moet & Chandon. His wealth has fallen by $6.8 billion since Wednesday, when the company reported softer sales growth.