The world of riches has seen a big change France’s Bernard Arnault, who’s the Chief Executive Officer (CEO) of the luxury brand LVMH Moet Hennessy Louis Vuitton SE, overtakes the CEO of Tesla Elon Musk to become the world’s richest person Arnault reclaimed title of the world’s wealthiest man, as Elon Musk’s fortune dipped by over $18 billion.
Tesla reported a significant decline in stock value last week erasing about $73 billion from the company’s market valuation Forbes’ live billionaire tracker indicates that Arnault and his family value surged to $207.8 billion a $23.6 billion uptick, overtaking Musk’s wealth of $204.5 billion On the other hand, stock of LVMH experienced a notable rise, elevating the company’s market capitalization to $388.8 billion.
In contrast, Tesla’s market capitalization stood at $586.14 billion.
But Who is Bernard Arnault? Bernard Arnault is the founder of luxury brand LVMH popular as Louis Vuitton LVMH Moët Hennessy Louis Vuitton is commonly known as LVMH Bernard Arnault, born in 1949 in Roubaix, France, graduated from École Polytechnique, Paris.
He began career at family’s construction firm and became chairman in 1978 Arnault became chairman and CEO of LVMH in 1989 expanding it into a luxury goods empire with 75 brands Arnault’s five children are actively involved in LVMH or its subsidiaries.
According to the Forbes real-time billionaires list, the top 10 richest people in the world currently are:
- Bernard Arnault & Family ($207.6 billion)
- Elon Musk ($204.7 billion)
- Jeff Bezos ($181.3 billion)
- Larry Ellison ($142.2 billion)
- Mark Zuckerberg ($139.1 billion)
- Warren Buffett ($127.2 billion)
- Larry Page ($127.1 billion)
- Bill Gates ($122.9 billion)
- Sergey Brin ($121.7 billion)
- Steve Ballmer ($118.8 billion)
However, the Bloomberg Billionaires Index contradicts this ranking, asserting that Elon Musk remains the world’s richest man, holding a net worth of $199 billion. Following Musk on the Bloomberg list is Jeff Bezos, the founder of the e-commerce giant Amazon, with a wealth of $184 billion.
On the Bloomberg Billionaires Index, Bernard Arnault occupies the third position with a net worth of $183 billion.