Business
Bill Gates taken over by Bernard Arnault on global rich list
Arnault, CEO of luxury goods maker LVMH ( LVMHF ) took over Gates Tuesday at the Bloomberg Billionaires Index. It's the first time since the index was created seven years ago that Gates has dropped out of the top two.
Arnault has a net worth of about $ 108 billion, according to the index, after adding $ 39 billion to its fortunes in the past year. Microsoft ( MSFT ) The founder Gates is worth $ 107 billion.
Arnault has built LVMH into a global luxury power plant that controls brands such as Louis Vuitton, Christian Dior and Givenchy. It is also home to the Champagne brand Dom Pérignon and the beauty retailer Sephora.
The 70-year-old made headlines earlier this year when he committed $ 200 million ($ 224 million) to the reconstruction of Paris & # 39; Notre Dame Cathedral.
According to Bloomberg, Gates will still rank first if not for his philanthropic giving . Software guru has so far donated over $ 35 billion to the Bill & Melinda Gates Foundation.
Amazon ( AMZN ) CEO Jeff Bezos holds the top spot on the Bloomberg list with an estimated $ 125 billion net worth.
– Correction: An earlier version of this story failed when Bernard Arnault promised the donation to rebuild Notre Dame.
