Bill Gates no longer world's 2nd richest person, overtaken by Arnault

Microsoft Co-founder Bill Gates is no longer the world's second-richest person as his wealth was surpassed by French luxury goods tycoon Bernard Arnault's wealth, Bloomberg said today. Gates is now the world's third-richest person with $107 billion as compared to second-richest person Arnault's $108 billion wealth. Arnault derives most of his wealth from his holdings in Louis Vuitton owner LVMH.