Microsoft co-founder and notable philanthropist, Bill Gates is no longer the second richest man in the world.
That honour, according to Bloomberg Billionaires Index, now belongs to France’s Bernard Arnault.
Arnault is the Chairman and Chief Executive Officer of LVMH, the world’s largest luxury-goods company.
Gates has never fallen below second in the seven-year history of the Index.
The 70-year-old Arnault raked in $39 billion in 2019 alone and is now worth $108 billion, leapfrogging the 63-year-old American billionaire whose net worth is $107 billion.
The French billionaire is now just below Jeff Bezos, the Amazon founder who has a whooping $125 billion to his name.
Arnault was in the news recently for committing $224 million of his vast fortune to assist in the rebuilding of the iconic Notre Dame cathedral in Paris.
Bloomberg’s top 10 billionaires by networth:
1 Jeff Bezos – $125B
2 Bernard Arnault – $108B
3 Bill Gates – $107B
4 Warren Buffett – $83.9B
5 Mark Zuckerberg – $79.5B
6 Amancio Ortega – $67.2B
7 Larry Ellison – $61.8B
8 Larry Page – $56.6B
9 Carlos Slim – $56.4B
10 Francoise Bettencourt Meyers – $56.3B