Bernard Arnault: Meet billionaire who has overtaken Elon Musk as world's richest man
Bernard Arnault, the billionaire chairman and CEO of the global luxury goods brand LVMH (Louis Vuitton), has surpassed Elon Musk as the world's richest man, as reported by Forbes.
According to the magazine, the net worth of the Arnault family reached $207.8 billion on Friday, experiencing a $23.6 billion increase. In contrast, Musk's net worth stood at $204.5 billion, witnessing a decline of over $18 billion.
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Born in 1949 in Roubaix, France, Arnault, an engineering graduate from the École Polytechnique in Paris, pursued a career in business.
In 1984, Arnault acquired the struggling luxury goods brand Christian Dior. Under his leadership, the business expanded rapidly, incorporating additional luxury brands such as Hennessy, Louis Vuitton, and Moët & Chandon. The amalgamation of Christian Dior and Moët Hennessy in 1987 resulted in the formation of LVMH, the world's largest luxury goods corporation.
As per the Forbes Real-Time Billionaire List on Sunday, the French tycoon and his family were valued at $207.6 billion, while Musk's net worth was estimated at $204.7 billion. Mark Zuckerberg, Jeff Bezos, and Larry Ellison rounded out the top five.
Nevertheless, the Bloomberg Billionaires Index contends that Musk, the owner of companies like SpaceX, Tesla, and X (previously Twitter), remains the world's richest person, boasting a fortune of $199 billion, leading ahead of Jeff Bezos ($184 billion) and Arnault ($183 billion).