This is evident from the Billionaire Index of business magazine Forbes, which tracks the wealth of the world’s richest in real time. The hobby astronaut now has to make do with a wealth of 193.3 billion dollars, his French colleague billionaire has more than a billion more to spend with 194.4 billion.
Punished on the stock market
Amazon was severely punished on the stock exchange on Friday, after the online retailer presented its quarterly figures earlier in the day. Those weren’t bad, but the announcement that it is lowering its outlook caused panic among investors. Bezos owns a 10 percent stake in the company he founded in 1994.
The Luxembourg privacy fine of almost 750 million euros did not help either. Amazon allegedly violated strict data protection rules when collecting and using personal data. Amazon has called the allegations unfounded and will appeal. All in all, the share price fell more than 7 percent.
The Arnault’s net worth also fell by nearly $2 billion on Friday. Nevertheless, the French owner of luxury brands Louis Vuitton, Dior and Fendi can call himself the richest person in the world for the time being. Because Forbes relies on real-time price information, Bezos may soon replace its European rival.
Arnault has been the richest European for years. The 72-year-old Frenchman took over Financière Agache, Dior’s parent company, in 1984. Three years later he bought into LVMH, again two years later he acquired complete control. Since then, he has added several brands to his luxury empire, including the American Tiffany.