Louis Vuitton’s Bernard Arnault is Now the Richest Man in the World

Bernard Arnault, the Chairman and CEO of Moet Hennessy Louis Vuitton (LVMH), has surpassed Elon Musk as the world’s richest man. According to Forbes, the French billionaire and his family’s net worth increased by $23.6 billion, reaching $207.6 billion overall.

Mr. Arnault’s net worth surpassed Tesla CEO’s $204.7 billion on Friday. Mr. Musk’s net worth decreased by 13%, with a loss of over $18 billion, according to reports.

Since 2022, the two billionaires have been involved in a wealth tug-of-war, with Mr Arnault apparently taking the lead late that year.

According to the research, LVMH—the company behind luxury goods brands such as Dior, Bulgari, and Sephora—has a market capitalization of $388.8 billion, while Tesla’s is $586.14 billion.

Last April, Bernard Arnault’s fortune surpassed $200 billion when the company’s shares reached a record high. Mr Arnault became the third individual to attain this milestone, following Elon Musk and Jeff Bezos.

Back then, the Bloomberg Billionaires Index reported that Mr Arnault’s net worth had increased by $2.4 billion to $201 billion.

Mr Arnault’s fortune will expand by $39 billion in 2023 when LVMH shares rise 30%.

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)