Time: Monday May 24, 2021
Place: Paris, France
Details: Arnault has promoted decisions towards decentralizing the group's brands as a business strategy. As a result of these measures, brands under the LVMH umbrella such as Tiffany are still viewed as independent firms with their own history. For a very brief period on May 24, 2021, Arnault temporarily became the richest man in the world, surpassing Jeff Bezos with a net worth of 187.3 billion dollars. A few hours later, however, Amazon stock ticked up and Jeff Bezos retook the spot and reclaimed it.