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Bill Gates just lost his ranking as the world's 2nd-richest person

Bill Gates just lost his ranking as the world's 2nd-richest person
Yana Paskova/Getty Images



Bernard Arnault has overtaken Bill Gates as the world's second-richest person, Bloomberg reported.




Arnault made his fortune running French luxury conglomerate LVMH. Business Insider previously reported that the luxury goods sector has boomed in 2019, thanks to increased demand in China.




According to Bloomberg, Arnault currently has a net worth of $108 billion.




Visit Business Insider's homepage for more stories.



Bill Gates has been ousted from his long-held spot as the world's second-richest person, Bloomberg reports.
After shares of his company's stock surged on July 16, LVMH CEO Bernard Arnault is now more than $200 million richer than Gates, according to the Bloomberg Billionaires Index. It's the first time in the Index's seven-year history that Gates has ever ranked below the No. 2 spot, Bloomberg reported.
Arnault now has a net worth of $108 billion, compared to Gates' $107 billion, according to Bloomberg.
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