New Zealand's richest man Graeme Hart has added another $1 billion to his fortune, according to Bloomberg's Billionaire Index.

French businessman and chief executive of luxury goods company LVMH Moët Hennessy – Louis Vuitton, Bernard Arnault, has surpassed Microsoft's Bill Gates to gain the title of the world's second richest man in the latest index.

Amazon founder Jeff Bezos remains the world's richest man with a total net worth of $US125 billion (185b), followed by Arnault with a net worth of $108b ($160b) and Gates with a $107b ($158) fortune.

Graeme Hart, pictured with his wife Robyn in 2017.
Graeme Hart, pictured with his wife Robyn in 2017.

Gates has never been ranked below the second spot on the Bloomberg Billionaires Index. His philanthropic endeavours was the biggest reasons for his slip in rankings.

Advertisement

According to Bloomberg, the trio's collective wealth exceeds the individual market values of almost every company in the S&P 500 index.

Graeme Hart, New Zealand's richest man, added more than $1.1 billion to his fortune in the year to date - he is now worth $6.98b ($10.3b).

The owner of Auckland-based private equity firm Rank Group is ranked as the 237th richest man in the world, according to the index which is updated daily.

Rank Group's three main divisions are Reynolds Group, which owns food packaging and consumer products businesses, building materials supplier Carter Holt Harvey and vehicle parts business Automotive Group.

Hart is sandwiched between controversial billionaire, George Soros, a hedge fund tycoon known as the ''man who broke the Bank of England'' and fashion designer Giorgio Armani in 238th place.

Hart is ranked three spots ahead of luxury fashion powerhouse Ralph Lauren who has a net worth of $6.9b ($10.2b).

He is the only New Zealander to appear on Bloomberg's Billionaire Index.

Graeme Hart is New Zealand's richest man. Photo / File
Graeme Hart is New Zealand's richest man. Photo / File

Francoise Bettencourt Meyers, daughter and heiress of personal care company L'Oreal's Liliane Bettencourt, is the world's richest woman and ranked 10th on the index.

Advertisement

Meyers' total net worth is $56.3b ($83.6b), she gained more than $10.1b ($15b) in the calendar year and is worth more than Indian business magnate Mukesh Ambani.

Ambani, managing director and the largest shareholder of Reliance Industries, is ranked at the 13th richest man in the world, the only Indian ranked in the indexes' top 20, with a net worth of $51.8b ($77b).

Mukesh Ambani, managing director of Reliance Industries, is India's richest man. Photo / File
Mukesh Ambani, managing director of Reliance Industries, is India's richest man. Photo / File

After Gates in third spot is American businessman and investor Warren Buffet of Berkshire Hathaway.

Buffet is worth $83.9b ($124b), followed by Facebook founder Mark Zuckerberg in 5th place with a $79.5b (118b) fortune.

Other billionaires in the top 10 include Spanish businessman Amancio Ortega, founder of the Inditex fashion group, Larry Ellison, Larry Page and Carlos Slim of Mexico.

Six billionaires ranked in the top 10 are from America.