February 23, 2024. Bogdan Stojkov
The chairman and CEO of LVMH Moët Hennessy Louis Vuitton SE, Bernard Arnault is currently the wealthiest individual globally, with a staggering net worth of USD 228.3 billion. Knowing this, we couldn’t help but wonder just how much he makes per second, so we conducted a thorough analysis of his earnings to get as close as possible to the exact number. In short— the results will blow you away.
Bernard Arnault’s net worth
As of February 20, 2024, Bernard Arnault and his family boast an impressive net worth of USD 228.3 billion. At least, this is what Forbes’ “Real-Time Billionaires” index suggests. Either way, this is a colossal sum that places the Arnault family in the first place of the world’s richest people, just in front of Elon Musk, Jeff Bezos, and Mark Zuckerberg.
Source of income
Bernard Arnault’s primary source of income stems from his significant ownership stake in LVMH. Namely, the Arnault family holds 6.744 per cent ownership in the conglomerate, which reported a gross profit of 22.8 billion euros for the fiscal year 2023.
LVMH Moët Hennessy Louis Vuitton SE is a multinational luxury goods conglomerate headquartered in Paris, France. Founded in 1987 through the merger of Louis Vuitton and Moët Hennessy, LVMH has since evolved into a powerhouse in the luxury industry, boasting a portfolio of over 70 prestigious brands across various sectors. These include fashion, leather goods, perfumes, cosmetics, watches, jewelry, and wines and spirits. Some of its most renowned brands include Louis Vuitton, Dior, Givenchy, Fendi, Bulgari, and Dom Pérignon, all of which help it maintain its position as a leader in the luxury market.
The methodology
Although we could have gone an easier route and calculated Bernard Arnault’s earnings per second using his net worth figures, we opted for a more analytical approach. Namely, our methodology is based on LVHM’s yearly profits and Arnault’s ownership percentage. So, to determine just how much money Bernard Arnault makes every second, we first need to calculate the Arnault family’s share of LVMH’s profits. To do this, we must first multiply the gross profit by their ownership percentage. Once we have this figure, we can proceed further and divide the result by the number of seconds in a year.
How much does Bernard Arnault make a second?
Given LVMH’s gross profit of 22.8 billion euros in 2023 and the Arnault family’s ownership stake of 6.744 per cent, their share of the profits amounts to approximately 1.537 billion euros. Now, let’s break down Arnault’s earnings per second, which is 1.537 billion euros divided by 31,536,000 seconds (the number of seconds in a year), equaling approximately 48.74 euros.
Knowing how much money Bernard Arnault makes a second allows us to find out other interesting figures, such as just how much he makes per minute, hour, day, and week. These are approximately 2,924.42 euros per minute, 175,465.20 euros per hour, 4,211,086.40 euros per day, and 29,477,605.60 euros per week. The calculated figure is based on estimated ownership percentages and reported profits for the respective companies, and should be considered speculative rather than precise financial data. Additionally, this analysis has not accounted for any of Arnault’s private investments, dividend-paying ventures.
Comparison to other billionaires
Bernard Arnault’s immense wealth places him at the very top of the elite echelon of billionaires. As of February 20, 2024, here’s how his net worth compares to other notable figures, such as Elon Musk, Jeff Bezos, and Mark Zuckerberg: Other notable billionaires on this list include the cofounder of Oracle (NYSE: ORCL) Larry Ellison (USD 139 billion), the legendary investor Warren Buffett (USD 136.6 billion), and the ex-CEO of Microsoft (NASDAQ: MSFT) Bill Gates (USD 125.2 billion).
The bottom line
Bernard Arnault’s earnings are mind-boggling, to say the least, with him raking in millions of dollars every hour, day, and week. His wealth dwarfs that of many other billionaires, solidifying his status as one of the most financially successful individuals globally. As the head of LVMH, his fortunes are deeply intertwined with the success of the luxury conglomerate, reflecting the immense value he brings to the company.
Bogdan is an aspiring content writer with a firm background in finance. With a passion for exploring the world of cryptocurrencies and business, he brings a unique blend of writing skills and financial expertise to his role at Finbold. His ability to simplify complex financial concepts into engaging content makes them valuable in delivering well-researched financial content to Finbold’s readers.
