French luxury titan Bernard Arnault became a centibillionaire on Monday after promising results of a Covid-19 vaccine spurred global equities higher, including Arnault’s LVMH.

Arnault joins Jeff Bezos, Bill Gates, Mark Zuckerberg and Elon Musk in the rarefied club. It’s the first time five individuals have boasted fortunes exceeding $100 billion, according to the Bloomberg Billionaires Index, a daily wealth ranking. Overall, the group added $68 billion to their collective fortune today.

For all of its tumult and crises, 2020 has been a banner year for the world’s richest. The 500 people tracked by the index have added $1.2 trillion in wealth since January, a 21% gain aided by surging stock markets, ample liquidity and the ability to capitalize on depressed valuations.

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The scorching pace of wealth gains among the world’s very richest are exemplified by those occupying the index’s top slots. Two years ago, there was only one centibillionaire on the planet: Amazon.com Inc. founder Bezos, who is now practically a centibillionaire twice over despite a divorce which resulted in him ceding millions of Amazon shares to ex-wife, MacKenzie Scott.

Read Newsmax: There Are Now a Record Five Centibillionaires After Stock Surge | Newsmax.com
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