Bernard Arnault's net worth is around $106 billion, making him the wealthiest man in France. However, he is only the third richest man in the world. Microsoft founder Bill Gates is second with $107 billion while Amazon CEO Jeff Bezos still reigns supreme with $110 billion. But the ranking could change really soon amid Anault’s spending spree recently.

Arnault’s LVMH (LVMH Moët Hennessy Louis Vuitton) recently acquired Tiffany & Co. for a cool $16.3 billion. The acquisition further expands his empire in the fashion industry. The jewelry brand is an addition to his list of luxury brands such as Dom Perignon, Bulgari, Louis Vuitton, Sephora, De Beers, Bulgari and Tag Heuer. And he seems not yet done with recent investments in Netflix, Blue Capital, and Carrefour. He has also made collaborations with Rihanna this year and made a venture with Stella McCartney.

After agreeing to a deal with Tiffany, his net worth increased by as much as 1 percent.

Arnault earned an engineering degree at École Polytechnique in 1971. He then continued their family business, Ferret-Savinel, which is a construction firm. Before taking over LVMH, he dipped his toes in different business ventures that sharpened his management skills. He acquired Financière Agache and then handled Boussac, a textile company, with Christian Dior and Le Bon Marché.

Aside from fashion, he also fancies paintings and owns a collection from Claude Monet, Mark Rothko, Picasso, Yves Klein, Henry Moore, Andy Warhol and Bernard Buffet, Born2Invest reported. To get him around, he owns a BMW 7-Series and a private jet. Moreover, he has a villa in Saint-Tropez and properties in high-end locations such as Los Angeles, the Beverly Hills, Trousdale Estates, and Hollywood Hills.

Arnault is also known as a philanthropist. He has contributed to different organizations such as Save the Children, the Foundation for Hospitals in Paris and Princess Grace of Monaco Foundation. He also donated €200 million to restore the Notre-Dame church and made contributions towards stopping the Amazon fires worth $11 million.

Arnault has five children: Antoine, Delphine, Alexandre, Frédéric and Jean. All of them works for LVMH. Antoine heads Berluti and Loro Piana while Delphine is vice president at Louis Vuitton. Alexandre works in Rimowa and Frédéric is connected to Tag Heuer.

LVMH chief Bernard Arnault built his empire by buying up dozens of coveted luxury firms.
LVMH chief Bernard Arnault built his empire by buying up dozens of coveted luxury firms. AFP / Nicholas Kamm