LVMH CEO Bernard Arnault’s wealth surpasses $200 billion

Yahoo Finance Live’s Brad Smith reports that LVMH CEO Bernard Arnault’s wealth has surpassed $200 billion, making him the third person ever to attain that level of wealth.

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BRAD SMITH: Also, everyone, keeping up with the world's billionaires, LVMH CEO Bernard Arnault, his net worth, his net worth surpassed $200 billion yesterday, making him the richest among the ultra high net worth, according to Bloomberg's Billionaires Index. The French luxury goods exec's wealth gains can be attributed to LVMH's soaring stock price, up roughly 25% year to date, growth largely stemming from strong demand for luxury goods.

Arnault's financial milestone makes him the third person ever, after Tesla CEO Elon Musk and Amazon founder Jeff Bezos, to attain that level of wealth, according to Bloomberg's Billionaires Index. Arnault also the first person outside of the United States to surpass a net worth of $200 billion, Jared.

JARED BLIKRE: Yep. I'll tell you what. When it comes to some of those multibillionaires, really interesting to compare Amazon's, who's in number two, Elon Musk, and then Arnault, who's-- well, I guess he got there because his luxury goods are appearing. And they're being sold through other sites, sometimes counterfeit, through the number two slot, Jeff Bezos's Amazon. A little bit of interweaving there.

BRAD SMITH: Interesting. All right.