Passing of the Throne
In life, many have used capitalism to become billionaires, pushing to be the richest in the world. This is no easy task; it requires decades of hard work, effort, and ingenuity, with a select few achieving it. However, we know the one at the top currently, Jeff Bezos.
Bezos is the founder of Amazon, the online bookstore that has now turned into a company that does everything. After surviving the dot-com bubble, Amazon has turned into the fourth largest company by market cap in the world. They have infiltrated almost every industry, killing companies like Barnes and Noble and Toys R Us. Amazon’s share price has gone through the roof, contributing to his wealth. However, Bezos stepped down from his role as the CEO of Amazon to focus on his other entrepreneurial ventures like Blue Origin, his aerospace company that is a competitor to Elon Musk’s SpaceX.
Although Musk caught Bezos’s tail by leading him in net worth for a few days, Tesla stock fell, leaving Elon out of the hunt. However, Bezos was surprised once again recently, this time by Bernard Arnault. Arnault is the CEO of LVMH, a French luxury business that owns brands like Louis Vuitton and Dior. He has transformed the company into the largest of its kind, and he is truly a great leader. LVMH suffered during the pandemic, but the recovery has benefitted them greatly with many US and China shoppers buying their apparel. This has caused the share price of LVMH to rise exponentially, which allowed Arnault to inch ahead of Bezos. Unfortunately, this only stood for a day as Bezos reclaimed it very quickly. Bezos could be in for more, with many considering Amazon stock to be undervalued with all its recent acquisitions. Even though Bezos isn’t the CEO, he still owns enough shares for it to have an impact on his net worth, along with everything else he does. Do you think Arnault can pass Bezos?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.