Jeff Bezos Is No Longer Earth’s Richest Human
Amazon founder Jeff Bezos is no longer the world’s richest person, following a Forbes estimation that sees Bernard Arnault, CEO and majority owner of French luxury group LVMH, shoot past him.
Arnault’s net worth is estimated to sit at US$186.3 billion, following a recent surge in LVMH’s stock.
Bezo, meanwhile, is only worth a measly $186 billion, while Elon Musk is lagging behind at third, with his net worth of $147 billion.
Last November, Arnault, whose LVMH is the parent company for Dior, Hennessy, Louis Vuitton, Celine, Moët, and recent acquisition Tiffany, surpassed Musk to become the world’s second richest man. As the world economy recovers from the pandemic, his stock has risen further.
While Amazon has benefitted sales-wise from the pandemic, its share prices haven’t matched this surge, suggesting it may be undervalued.
If investors correct the market, Bezos may soon find himself on top again.