New Delhi, August 6: Bernard Arnault, Chairman of Louis Vuitton Moet Hennessy (LVMH), has become the richest person in the world after surpassing Amazon founder Jeff Bezos. The French businessman's net worth is estimated at $198.9 billion, as per the Forbes Real-Time Billionaires List.

Arnault had earlier become the world's richest person in December 2019, January 2020 and May 2021. As per the latest rankings, Bezos's net worth stood at $194.9 billion while Elon Musk is placed third. Tesla and SpaceX chief Musk's net worth is estimated at $185.5 billion. Bernard Arnault Becomes Richest Person in the World, Chairman of Louis Vuitton Moet Hennessy Surpasses Jeff Bezos.

Arnault overtook Elon Musk when the company reported first-quarter revenue of 14 euros billion in 2021, which surged by 32 per cent as compared to the first quarter of 2020.

LVHM comprises 70 brands, including Louis Vuitton, Sephora, Tiffany & Co, Stella McCartney, Gucci, Christian Dior and Givenchy, which are independently managed and operated under the LVMH umbrella.

(The above story first appeared on LatestLY on Aug 07, 2021 10:30 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).