The world’s richest man, Bernard Arnault, is the chairman and CEO of Moet Hennessy Louis Vuitton (LVMH), surpassing Elon Musk. According to Forbes, the French billionaire and his family’s net worth increased by $23.6 billion to reach $207.6 billion.
The report also stated that on Friday, Mr. Arnault’s net worth surpassed that of the Tesla CEO, whose $204.7 billion fell 13% as a result of Mr. Musk losing more than $18 billion.
The two billionaires are said to have been engaged in a wealth-related tug-of-war since 2022, with Mr. Arnault seemingly taking the lead toward the end of the year.
According to the report, LVMH, the company that owns luxury brands such as Dior, Bulgari, and Sephora, has a market capitalization of $388.8 billion, while Tesla’s is $586.14 billion.
According to the Forbes real-time billionaires list, the top 10 richest people in the world 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, on the other hand, claims that Mr Musk is still the richest man in the world, with a net worth of $199 billion wealth.
Elon Musk is followed by the founder of e-commerce giant Amazon Jeff Bezos with $184 billion of wealth, on the list.
On the Bloomberg Billionaires Index, Bernard Arnault has occupied third place with a $183 billion net worth.
Meanwhile, last year in April, Bernard Arnault saw his fortune exceed $200 billion as shares of the company hit a record high. Mr Arnault became the third person to achieve this milestone, which was earlier achieved by Elon Musk and Jeff Bezos.
At the time, Mr. Arnault’s net worth increased by $2.4 billion to $201 billion, according to the Bloomberg Billionaires Index.
Mr. Arnault’s wealth has grown by $39 billion in 2023 as a result of the 30% increase in LVMH shares, which is a result of the growing demand for luxury goods.
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