French fashion tycoon Bernald Arnault is now the world’s richest man after his fortune rose to $186.3 billion.

The chief executive of Moët Hennessy Louis Vuitton (LVMH) saw his luxury goods firm stock rise by 0.4 per cent during the first hours of trading on Monday, May 24.

The increase pushed Arnault’s personal stake up by more than $600million and placed LVMH’s market cap at $320billion, according to Forbes.

Arnault’s overall net worth jumped to $186.3billion, edging past Amazon CEO Jeff Bezos, who is worth $186billion, by ‘only’ $300million in the world’s rich list.