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Bill Gates slips from his position of the second richest in the world but Why?

For many years we saw Bill gates taking number one position in the list of the richest man in the world. Then we saw him slip to the number two position where he remained constant for many years.

Now Bill gates have gone down to number 3 position in the Bloomberg Billionaires Index. This is the first time in the last seven years that he is not among the top two richest men in the world. Bill gates, Ranking third now with a net worth of 107 billion dollars was taken over by Bernard Arnault whose net worth stands at 108 billion dollars. Arnault is the chairman and CEO of the world’s largest maker of luxury goods, LVHM Moet Hennessy Louis Vuitton. Amazon founder and CEO Jeff Bezos maintains is Numero Uno position what’s the estimated net worth of 124 billion dollars. This does not come close to the peak that Bezos submitted in 2018 when his net worth touched 151 billion dollars.

SOURCE: LVMH

The 70-year-old French investor and business tycoon, Bernard Arnault gained entry in the luxury goods market in 1984. He currently controls an estimated half of LVHM raked in a revenue of 46.8 billion Euros in 2018. The company’s first catalog of product consist of Louis Vuitton leather goods, Tag Heuer watches and Dom Perignon champagne. Apart off his net worth also comes from the 8.6 percent stakes in Hermes and 1.9 percent of Carrefour.

SOURCE:CNBC.com

Warren Buffett, Chairman, and CEO of Berkshire Hathaway were at the fourth place in the list with a net worth of 81.9 billion dollars. Mark Zuckerberg, co-founder, and CEO of Facebook bagged the fifth place on the file with the net worth of 78.7 billion dollars. Amancio Ortega followed him with the net worth of 66.2 billion dollars.