Bernard Arnault is world’s second richest person, adding billions as market rallies

Luxury king Bernard Arnault has become the world’s second richest person, with a net worth of more than $137 billion, after a surge in LVMH’s share price. Arnault added $7 billion to his wealth Monday, as European stocks and luxury companies soared on the back of the Covid-19 vaccine news from Pfizer. Europe’s richest man, who is chairman and CEO of LVMH, has added about $16 billion to his wealth over the past two weeks — more than entire purchase price of jewelry giant Tiffany. LVMH, which owns luxury brands such as Louis Vitton, Christian Dior and Moet & Chandon, agreed to buy Tiffany last year for $16 … (full story)

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