In this Thursday, Nov. 29, 2018, photo, a woman walks past a Tiffany & Co. store at a shopping mall in Beijing.
Mark Schiefelbein/AP
In this Thursday, Nov. 29, 2018, photo, a woman walks past a Tiffany & Co. store at a shopping mall in Beijing.
Now playing
02:55
Tiffany scooped up by LVMH
Pool
Now playing
02:11
Biden issues warning to gas station owners on price gouging
Now playing
01:40
Gas lines are getting longer. But experts are urging people not to hoard fuel
A Now Hiring banner sign is viewed outside a Chipotle restaurant during a new coronavirus pandemic, Tuesday, March 2, 2021, in Orlando, Fla. (Phelan M. Ebenhack via AP)
Phelan M. Ebenhack/AP
A Now Hiring banner sign is viewed outside a Chipotle restaurant during a new coronavirus pandemic, Tuesday, March 2, 2021, in Orlando, Fla. (Phelan M. Ebenhack via AP)
Now playing
02:39
Chipotle raises its average pay wage to $15 per hour
Now playing
02:47
IBM CEO: Cybersecurity needs to be a collective effort led by government
Now playing
03:10
Cybersecurity expert on why ransomware attacks are becoming more common
Boston-based REGENT's "seaglider" is a mix between a boat and an aircraft with a top speed of 180 mph.
REGENT
Boston-based REGENT's "seaglider" is a mix between a boat and an aircraft with a top speed of 180 mph.
Now playing
01:00
It's a boat? It's a plane? No, it's a 'seaglider.' And it goes fast...really fast
Newsmax
Now playing
02:36
Watch: Former Obama speechwriter trolls Newsmax anchor live on TV
CNN
Now playing
01:38
Lawmakers push airlines to drop flight credit restrictions
CNN/@walidbarahmeh
Now playing
03:04
China's out-of-control rocket lands on Earth
NBC
Now playing
01:48
Watch: Elon Musk's 'SNL' monologue
CNN
Now playing
04:35
Biden on disappointing jobs report: More help is on the way
Now playing
03:05
Restaurants, once laying off workers, now can't find enough to hire
SpaceX
Now playing
01:10
Watch SpaceX land its Mars rocket prototype for the first time
Now playing
02:52
Businesses set vaccine mandate for workers
CNN
Now playing
05:16
WTF is a SPAC?
(CNN Business) —  

Jeff Bezos and Bill Gates can clearly afford a lot of leather wallets from Louis Vuitton and little blue boxes from Tiffany. But the world’s two richest people could both soon find themselves worth less than the head of LVMH because of its takeover of Tiffany.

Bernard Arnault, chairman and CEO of LVMH (LVMHF), is now worth nearly $108 billion, according to real time wealth rankings tracked by Forbes. Arnault’s net worth jumped more than 1% Monday and nearly another 3% Tuesday along with LVMH (LVMHF)’s stock following his company’s agreement to buy Tiffany (TIF) for more than $16 billion. Arnault and his family own more than 47% of the French luxury goods giant.

The spike in LVMH shares puts Arnault just ahead of Microsoft (MSFT) co-founder Gates, who has a net worth of $107 billion, and trailing only Amazon (AMZN) CEO Bezos, who tops the Forbes list with a fortune of just over $110 billion.