Bernard Arnault, Chairman and CEO of luxury giant LVMH, slipped out of the the top ten list of the world's biggest fortunes last week as US technology tycoons take over.
According to the Bloomberg Billionaires Index, a daily ranking of the richest people in the world, Arnault dropped to 11th place last week, falling behind investor Warren Buffett.
This marks the first time the LVMH boss has sat outside of the top ten since 2017.
For a brief period in 2022, the businessman held the top position within the rankings, dethroning technology tycoon Elon Musk.
His change in position this year follows Arnault’s fortune falling by US$65bn since the beginning of 2026 to approximately $143bn, according to the Bloomberg Billionaires Index.
Arnault became the major shareholder of LVMH’s luxury products group in 1989, taking on the role of Chair and CEO from the same date.
His set annual salary was revealed to be €1.1m (€1,138,307) for 2026 – the same amount as he was paid in 2025, according to a document shared by LVMH.
Earlier this year Arnault was ordered to pay €22.5m in taxes following a long-term dispute with France’s authorities related to tax liabilities.
The LVMH CEO spoke out earlier this year about the business impacts of conflict in the Middle East.
Arnault and his family own a 50.01% stake in the luxury goods company, which includes beauty brands such as Guerlain, Benefit Cosmetics and singer Rhianna’s Fenty Beauty.
Lead image credit: WikiMedia Commons
