Bill Gates is no longer the second-richest person in the world.
Arnault's ownership in LVMH helped lift his net worth to $108 billion as of Thursday's market close. The Paris-based fashion house owns luxury brands in perfumes, watches, alcohol, and clothing.
LVMH is listed on the Euronext Paris exchange, and the company is trading up 48% year-to-date. The rise in places Arnault behind only Amazon founder Jeff Bezos in terms of overall net worth.
Here are some of the biggest brands owned by LVMH:
Fun fact: Hennessy's USA headquarters is located in New York City, and recently moved into the World Trade Center.
Fun fact: Marc Jacobs, the founder of the label, left LVMH in 2013.
Fun fact: LVMH purchased the Christian Dior brand for $13.1 billion in 2017.
Fun fact: Tag Heuer sponsors a number of celebrities and athletes including golfer Tiger Woods, actor George Clooney, and world-famous soccer club Manchester United.
Fun fact: LVMH purchased Sephora in 1997 and brought the cosmetic retailer global.
Fun fact: Louis Vuitton was one of the conglomerate's original brands when it was founded in 1987.
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