News Desk: French fashion tycoon Bernard Arnold has won the title of the world’s richest man, surpassing Jeff Bezos. He now owns assets worth more than 18 thousand 630 crore US dollars. As a result of the continuous rise in the share price, Arnold’s assets stood at 18 thousand 630 crore US dollars for some time on Monday morning.

Jeff Bezos, in second place, had a net worth of 18 thousand 630 crore US dollars. An hour later, however, Jeff Bezos’s fortune surpassed that of Bernard Arnold. At the end of the day on Tuesday, Bernard Arnold’s net worth was  18 thousand 760 crore US dollars and Jeff Bezos’s was 18 thousand 820 crore US dollars.

French fashion tycoon Bernard Arnold owns LVMH Group, a European luxury goods company. The world’s top brands are Louis Vuitton, Moyte, Hennessy, Fendi, Christian Dyer and Givenchy. Despite the Kovid epidemic, Arnold’s wealth has more than doubled since March last year.

According to experts, the growth of Arnold’s company has increased as Chinese customers have started buying LVMH products. In the first quarter of this year, LVMH earned a record 1,700 crore dollars, up 32 percent from the same period last year.

In the first hour of trading, LVMH’s share price rose 0.4 percent on Monday and reached 32 thousand crore Dollars. According to Forbes, LVMH has not only grown as the only European luxury goods group.

Companies such as Francis Pinalt, LVMH’s main competitor and Kering Group’s St. Laurent, Alexander McQueen and Gucci have been able to double growth since last spring. The revenue of these companies has increased from 2,700 crore to 5,510 crore dollars. In one year, the revenue of companies like Chanel Brothers, Alain Wertheimer and Gerard Wertheimer has increased from 1,700 to 3,500 corer dollars.