French tycoon Bernard Arnault surpassed Jeff Bezos as the world’s richest person once again after the Amazon founder’s net worth fell $13.9 billion in one day.
Arnault, whose subsidiaries consist of high-end fashion companies such as Louis Vuitton, Sephora, Moet & Chandon, and Tiffany & Co., held a net worth at $195.8 billion as of Monday, while Bezos’s stood at $192.6 billion.
Bezos momentarily lost the title of the world’s richest person on July 20 when his Blue Origin rocket launched him into suborbital space. According to Marketwatch, he lost the title again this week when Amazon’s stock fell 7% after the company reported a slimmer second-quarter growth than what was previously expected.
Bernard Arnault and Bezos have both gained considerable profit throughout the pandemic, as the French business tycoon’s wealth grew by nearly $100 billion last year.
In 2020, Bezos also made history as the first person to be valued at $200 billion due to Amazon’s success during the pandemic.
The French businessman Arnault is regularly toe-to-toe with Bezos, as the fashion mogul surpassed the Amazon founder on May 24, with roughly $300 million above Bezos at the time.