Bernard Arnault, who serves as both the chairman and CEO of LVMH, now holds the title of the world’s wealthiest individual after surpassing Elon Musk, the CEO of Tesla. As the architect of a luxury brand empire, Arnault’s staggering wealth sparks curiosity about the amount he accumulates with each passing second.
In this line, data obtained by Finbold indicates that as of February 20, 2024, Arnault and his family held the title of the world’s wealthiest individual, with a net worth of US$222.7 billion. His primary income source is a 6.744 per cent ownership stake in LVMH.
To determine his earnings under a specific timeframe, the methodology was based on LVMH’s gross profit of €22.8 billion (US$24.75 billion) in 2023. Therefore, Arnault made approximately €1.537 billion (US$1.67 billion) based on his stake in the company.
This translates to a figure of approximately €48.74 (US$52.92) per second, €2,924.42 (US$3,175) per minute, €175,465.20 (US$1,90,507) per hour, €4,211,086.40 (US$4,572,102) per day, and €29,477,605.60 (US$32,004,720) per week.
Implications of Arnault’s wealth
The report highlighted the implication of Arnault’s staggering earnings under specific timelines. According to the report:
“Bernard Arnault’s earnings are mind-boggling, to say the least, with him raking in millions of dollars every hour, day, and week. His wealth dwarfs that of many other billionaires, solidifying his status as one of the most financially successful individuals globally. As the head of LVMH, his fortunes are deeply intertwined with the success of the luxury conglomerate, reflecting the immense value he brings to the company.”
In the meantime, the LVMH founder position faces stiff competition from Musk, considering that the difference in their wealth is minimal.
