Bernard Arnault Dethrones Elon Musk as World’s Richest Man
Forbes magazine has reported that Bernard Arnault & family have overtaken Elon Musk to become the world’s richest person.
Arnault is the French luxury goods tycoon who owns LVMH, which includes brands such as Louis Vuitton, Christian Dior, and Tiffany & Co.
Arnault’s net worth is estimated at $211 billion, a gain of $53 billion over the past 12 months, while Musk’s net worth has dropped to $180 billion.
Musk’s fall from the top spot is attributed to a drop in the value of Tesla’s shares and the sale of $23 billion of those shares to finance the acquisition of Twitter.
Jeff Bezos, the founder of Amazon, ranks third on the list of the world’s wealthiest people with a net worth of $114 billion, down $57 billion from a year ago due to a 38% decline in Amazon stock.
The top 20 wealthiest people in the world list by Forbes also includes Larry Ellison, Warren Buffet, Bill Gates, Michael Bloomberg, and Carlos Slim Helú & family.
