LVMH CEO Arnault Overtakes Gates as World’s Second-Richest Person

A surge in wealth is playing out on the Bloomberg Billionaires index. LVMH CEO Bernard Arnault has overtaken Bill Gates to become the world’s second richest person with a net worth of more than $107B. It’s the first time the Microsoft founder has fallen below second place at least in the seven year history that we’ve been ranking the richest people on the globe. Bloomberg’s Tom Metcalf reports on “Bloomberg Markets: European Open.” (Source: Bloomberg)