Shares of his Paris-based luxury-goods maker surged 6.9%, the most since mid-2016, as fourth-quarter profit topped analysts’ estimates on strong demand from China, the world’s second-largest economy.

Arnault controls about half of LVMH through a family holding company, Groupe Arnault.

His wealth has surged US$8.3 billion since the start of the year and now stands at US$76.9 billion, putting him within striking distance of Berkshire Hathaway Chairman Warren Buffett, who’s currently ranked third on the Bloomberg Billionaires Index with US$84.8 billion.

Amazon.com founder Jeff Bezos, the world’s richest person, added US$6.1 billion to his net worth Wednesday, while No. 2 Bill Gates, the Microsoft co-founder, gained US$889.4 million.

LVMH’s stake in luxury fashion house Cristian Dior comprises most of Arnault’s fortune.

He moved into luxury goods in 1984, taking over the bankrupt textile group that owned Christian Dior.

He sold the company’s other businesses and used the proceeds to buy a controlling stake in LVMH.

Last month, the company agreed to acquire high-end hotel operator Belmond in a deal that values the owner of New York’s ‘21’ Club at US$2.6 billion.

Arnault has never ranked higher than fourth on the Bloomberg wealth ranking, which could see more of a shakeup near the top Thursday.

Shares of Mark Zuckerberg’s Facebook surged 12% in extended trading at 5.25pm in New York after the company posted sales and profit that smashed estimates.

Zuckerberg, currently the world’s seventh-richest person, is poised to jump to No. 5, leapfrogging Spain’s Amancio Ortega and Mexico’s Carlos Slim.