Apr 20, 2023
Most of the world’s richest people are household names at this point: Jeff Bezos, Elon Musk, Warren Buffett, Bill Gates.
Yet Bernard Arnault, CEO of luxury brand conglomerate LVMH, has surpassed them all to become No. 1 — and now his family's net worth has topped the $200 billion mark.
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Here's how this French tycoon became the second person in history to achieve that milestone, and how investors (even those with limited funds) can steal a piece of his success.
Who is Bernard Arnault?
Arnault was born on March 5, 1949 (74 years old), in northern France. Today, he is the face behind LVMH (Louis Vuitton Moët Hennessy), a luxury empire that includes not just the three iconic brands in the company’s name but also such revered fashion houses as Christian Dior, Fendi and Givenchy.
Other brands you may recognize include Dom Pérignon champagne, Sephora cosmetics — and in January 2021, his company acquired Tiffany & Co. for $15.8 billion.
His father, Jean Arnault, made his fortune in construction, and the younger Arnault started his career working for him, eventually taking over as president in 1979.
Five years later, for $15 million, he bought up Boussac Saint-Frères, a company whose assets included Christian Dior. Then, in 1988, he maneuvered to take a majority stake in LVMH.
By the mid-’90s, LVMH’s value had multiplied 15 times over, and sales and profits increased fivefold.
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What is Bernard Arnault's net worth?
Bernard Arnault has an estimated net worth of $241 billion making him the world's richest person, according to the Forbes’ list of billionaires.
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Arnault made it into the top 10 back in 2005, then inched his way into the top five by 2018.
But by 2019, he was firmly in the top three with a $76 billion fortune.
How did Bernard Arnault earn his wealth?
Throughout the pandemic, luxury sales have soared, increasing LVMH’s stock price and Arnault’s personal fortune. As a result, he’s been tussling with Tesla’s Elon Musk and Bezos for the top position over the last year and a half.
In late May, LVMH’s stock rose 0.4% in the first hours of trading, adding $600 million to Arnault’s personal fortune and knocking Amazon CEO Jeff Bezos down to second-richest person in the world.
Arnault and Bezos traded places three times over the next few days, but by June 1, Arnault was holding steady in the top spot.
Read More: Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it
Who can invest in LVMH?
LVMH stock, which is currently listed at just under $160, isn’t traded on the major U.S. exchanges. But that doesn’t mean you can’t buy in.
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One way to get shares is by way of the company’s unsponsored ADR, or American depositary receipt, which is a U.S.-bank-issued certificate that can be traded like regular stock.
The ADR is only available on the over-the-counter market, though, which is more complicated to navigate than the markets you're probably used to.
A much easier way to grab some LVMH stock is through any of the luxury-themed ETFs that include LVMH.
With modern investment apps, it’s simple to add an ETF to your portfolio. Once your portfolio is set up, some apps will even automatically invest your “spare change” so your money is always growing in the background.
And if you want to spread out your risk by putting down a little on each of Arnault’s competitors for world’s richest person, you can always buy fractional shares of Amazon, Tesla or Berkshire Hathaway — shares worth $3,196, $599 and $439,615, respectively, as of this writing.
Finding money to invest with
If you’re keen to get into investing like a luxury tycoon, but there’s not much room in your budget right now, you have a few options to find some extra funds.
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Bundle up your debt. If you’re struggling to pay off multiple debts and high interest rates, consider rolling your debts into one. You can chip away at your debt faster with a lower-interest debt consolidation loan.
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Slash your insurance premiums. When was the last time you looked around for a better price on your auto insurance? If it’s been a while, it may be costing you more than $1,000 extra every year. Shop around to ensure you’re paying the best possible rate. And while you’re at it, use the same technique to save hundreds on health insurance, too.
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Save big without clipping coupons. Even if you’ve trimmed your budget down to the bare necessities, you’ll still need to stock up on essentials here and there. When that time comes, use a free browser extension that will scour the internet for better prices and coupons.
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Sigrid is a senior associate editor on the Moneywise team, where she has also worked as a reporter and staff writer.
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