Bernard Arnault overtakes Elon Musk as the world’s richest

Bernard Arnault, the chairman and CEO of Moet Hennessy Louis Vuitton (LVMH), has eclipsed Elon Musk to become the world’s richest person, according to Forbes.

Arnault’s net worth, along with his family’s, surged to a staggering $207.6 billion, marking a remarkable $23.6 billion increase. This historic shift occurred as Musk’s net worth dipped by 13 percent, shedding more than $18 billion.

The rivalry for the title of the wealthiest person on the planet has been ongoing between these two billionaires since 2022, with Arnault reportedly securing the top spot late in that year.

LVMH, the parent company of renowned luxury brands like Dior, Bulgari, and Sephora, achieved a market capitalization of $388.8 billion, while Tesla stood at $586.14 billion.

Forbes’ real-time billionaires list now features

1. Bernard Arnault & Family ($207.6 billion)
2. Elon Musk ($204.7 billion)
3. Jeff Bezos ($181.3 billion)
4. Larry Ellison ($142.2 billion)
5. Mark Zuckerberg ($139.1 billion)
6. Warren Buffett ($127.2 billion)
7. Larry Page ($127.1 billion)
8. Bill Gates ($122.9 billion)
9. Sergey Brin ($121.7 billion)
10. Steve Ballmer ($118.8 billion)

However, the Bloomberg Billionaires Index asserts that Elon Musk remains the world’s wealthiest individual, boasting a net worth of $199 billion, closely followed by Amazon’s founder, Jeff Bezos, with $184 billion.

On the Bloomberg Billionaires Index, Bernard Arnault currently holds the third position, with a net worth of $183 billion.

In April of the previous year, Bernard Arnault celebrated his fortune surpassing the $200 billion mark as LVMH shares reached an all-time high. This made him the third individual in history to reach this milestone, joining the ranks of Elon Musk and Jeff Bezos.

According to the Bloomberg Billionaires Index, Arnault’s net worth has soared by $39 billion in 2023, fuelled by the surging demand for luxury goods and a 30 percent increase in LVMH’s shares.

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