The past few years haven’t been easy for anyone. Not even billionaires! An ultra-rich person losing a few million doesn’t mean the same as an average one losing their family business, but it’s not like the past years’ inflation and stock market upsets haven’t taken their toll. Estimates put the combined capital loss of ultra-high-net-worth individuals at $10 trillion for 2022. Still, a select few managed to hold onto their money and make it to the very top of the wealth pyramid. Learn all about the richest people in the world here!
Bernard Arnault (and family)
The rich spend hundreds of thousands on luxury goods, but what do the wealthiest people do? They buy entire luxury brands. That’s how Bernard Arnault, the wealthiest person in the world and head of the LVMH conglomerate, amassed his massive fortune.
It all started in 1985 when he partnered with Moët Hennessy’s CEO and Louis Vuitton’s president to form LVMH. The company would later acquire brands like Bulgari and Christian Dior. Since 2023, his net worth is estimated at $202 billion!
