Bill gates no longer the second richest person

Bill Gates formerly the second richest person was being surpassed by a French billionaire Bernard Arnault who is the CEO of luxury goods maker LVMH. Bernard Arnault overtook Bill Gates this Tuesday on the Bloomberg Billionaires Index.

Arnault stepped up his worth by $39 billion in the last one year which makes his total net worth hiked up to $108 billion. Though there’s a very little difference between the net worths of both the billionaires. Bill Gates is quite near to Arnault’s net worth having racked up $107 billion. So maybe the spots for second and third can be switched any time.

According to Bloomberg Gates holds the position for richest person in the world if his generosity givings can be considered in his net worth. Bill Gates has already donated $35 billion to the Bill & Melinda Gates Foundation. But for now Jeff Bezos (Founder of Amazon) has owned this spot with a worth of $125 billion.

Arnault entered the luxury-goods market in 1984 by acquiring a textile group that owned Christian Dior. Four years later, he sold the company’s other businesses and used the proceeds to buy a controlling stake in LVMH. His art collection of modern and contemporary paintings includes pieces by Jean-Michel Basquiat, Damien Hirst, Maurizio Cattelan, Andy Warhol and Pablo Picasso.