Bernard Arnault, the CEO of LVMH, has surpassed Elon Musk and Jeff Bezos to become the wealthiest person on Forbes’ 2023 billionaires list. With a net worth of $211 billion and overseeing a portfolio of over 70 luxury brands such as Louis Vuitton, Christian Dior, and Sephora, Arnault experienced the largest increase in net worth among billionaires this year, adding $53 billion to his fortune in the past 12 months. Arnault has been the head of LVMH for approximately 30 years, helping grow the company’s revenue from $4 billion in 1989 to $86 billion in 2022, with a 35% increase in stock over the past year. He has expanded the company with new modern brands such as Fenty Beauty, launched in 2019, while maintaining traditional design houses like Louis Vuitton and Dior. Arnault recently appointed his daughter as CEO of Dior as he prepares for succession among his five children.
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