French billionaire Bernard Arnault was (briefly) the world’s richest person today by KristinStoller
, compared to Bezos’ $110.1 billion. Still, Arnault remains firmly ahead of Bill Gates , who he passed for the number two spot on Friday., he was able to slide into second place thanks to rising LVMH stock. Shares have bounced around since Arnault struck a deal to acquire American jeweler Tiffany & Co. on November 25, but are up more than 4% overall since the deal was announced. That includes a gain of nearly 3% since last Thursday, helping make Arnault $3.
The group’s $16.2 billion acquisition of Tiffany is its largest yet. Under the terms of the deal, LVMH will acquire the iconic jeweler for $135 per share in cash. It is expected to close in the middle of 2020, according to LVMH. By then, Arnault might be the richest person in the world yet again.
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