After Jeff Bezos and Bill Gates, Bernard Arnault who owns Louis Vuitton is the newest entrant to $100 billion club

• Bernard Arnault is the latest entrant into the world’s most exclusive club of members with a networth of $100 billion or more
  
• Arnault has a networth of $100.4 billion —- that is 3% of France's economy.
  

French businessman and Europe’s richest man Bernard Arnault is the latest entrant into the world’s most exclusive club of members with a networth of $100 billion or more, according to Bloomberg.

Arnault has a networth of $100.4 billion —- that’s more than 3% of France's economy.

The 70-year old Arnault is the chairman and CEO of LVMH Moet Hennessy Louis Vuitton SE, the world’s largest maker of luxury goods. He owns half of the shares in LVMH and 97% stake in Christian Dior.

LVMH manufactures and sells Louis Vuitton handbags, Dom Perignon champagne, TAG Heuer watches, and Rimowa luxury suitcases.

Four of Arnault's five children are a part of the LVMH empire. His daughter, Delphine is the executive vice president at Louis Vuitton, and the heiress apparent.

Arnault, who studied engineering at Ecole Polytechnique, marked his entry into the luxury good business when he purchased Christian Dior in 1984. He is also known to have a long standing rivalry with the second richest man in France, Froncois Pinault who reportedly has a worth of $34.3 billion.

Arnault began his career as an engineer in his father’s civil engineering company Ferret-Savinel. He served as its chairman for many years before he entered the world of luxury goods in the mid-80s, a strategy that has paid off well.