French LVMH CEO Bernard Arnault is world's richest man at $201 billion

April 5 (UPI) -- French billionaire Bernard Arnault's net worth has topped $200 billion making him the world's richest person and just the third person to ever amass that much money. Arnault started the luxury goods company LVMH.

Bloomberg's Billionaires Index ranked Arnault ahead of both Bezos and Musk as of Tuesday, with a total net worth of $201 billion. That index shows Arnault with a $25 billion greater net worth than Elon Musk and $73 billion more than Amazon founder Jeff Bezos.

Arnault, 74, is just the third person to have a fortune above $200 billion. Elon Musk and Jeff Bezos both reached that milestone before dropping below that amount as tech company stocks dropped.

Musk's wealth also declined after he purchased Twitter for $44 billion in October and said last month that its value had fallen to $20 billion.

Bill Gates and Warren Buffet round out the top five richest people in the world.

Arnault is chairman and CEO of LVMH, owner of Louis Vitton, Christian Dior and Moët & Chandon. He co-founded LVMH 35 years ago and is the majority shareholder. His wealth increased by $2.4 billion on Tuesday.

LVMH stock prices have gone up by 150 percent in the past three years. According to Business Insider, Arnault's wealth has doubled since 2020.

Rihanna partnered with Arnault's LVMH in 2019 on a new fashion label. But less than two years after that deal, LVMH said it was putting Rihanna's Fenty fashion house "on hold."

Rihanna became a billionaire herself in 2021.