Amazon.com, Inc (NASDAQ:AMZN) Chair and recent space traveler Jeff Bezos is no longer the world’s richest person, according to the Forbes Real-Time Billionaire’s List.
What Happened: Bezos, worth $192.6 billion at press time, was displaced by billionaire Bernard Arnault, CEO of the luxury goods firm LVMH Moët Hennessy - Louis Vuitton S.A. (OTC:LVMUY) (OTC:LVMHF), and his family.
Why It Matters: Arnault studied engineering and worked in the construction field before turning his focus on fashion, as per an earlier report.
Arnault and his family own 47.5% of LVMH shares whose brands span Louis Vuitton, Christian Dior, Celine, Moët & Chandon, Hennessy, and Tiffany.
See Also: World's Richest Person Jeff Bezos Thanks Amazon Workers, Customers For Paying For His Space Trip
Bezos made his beginnings on Wall Street and later went on to found Amazon in late 1994 initially with a focus on books. Bezos stepped down as chief executive of the retail behemoth last month.
Amazon has since then expanded into e-commerce, cloud computing, and entertainment among other segments. Bezos also owns the Washington Post broadsheet.
Price Action: On Friday, Amazon shares closed nearly 0.1% higher at $3,331.48. On the same day, LVMH OTC shares closed 0.23% higher at $816.
See also: How to Buy Amazon Stock
Photo by Daniel Oberhaus on Flickr
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