Billionaire chairman and CEO of LVMH (Louis Vuitton), Bernard Arnault, has claimed the title of the world’s richest person, surpassing Elon Musk, according to Forbes.
The Arnault family’s net worth reached $207.8 billion, marking a significant increase of $23.6 billion, while Musk’s net worth declined to $204.5 billion, experiencing a decrease of over $18 billion.
Born in 1949 in Roubaix, France, Arnault, an engineering graduate from the École Polytechnique in Paris, embarked on a business career. In 1984, he acquired the struggling luxury goods brand Christian Dior and, under his leadership, transformed it into a global powerhouse. Arnault expanded the business by incorporating additional luxury brands such as Hennessy, Louis Vuitton, and Moët & Chandon. The merger of Christian Dior and Moët Hennessy in 1987 resulted in the creation of LVMH, the world’s largest luxury goods corporation.
As of the Forbes Real-Time Billionaire List, Arnault and his family were valued at $207.6 billion on Sunday, with Musk trailing at $204.7 billion. The top five on the list also included Mark Zuckerberg, Jeff Bezos, and Larry Ellison.
However, the Bloomberg Billionaires Index presents a different perspective, asserting that Musk remains the world’s richest person, with a fortune of $199 billion. Musk, known for owning companies like SpaceX, Tesla, and X (previously Twitter), maintains a lead over Jeff Bezos ($184 billion) and Arnault ($183 billion).
The dynamics of the ranking highlight the fluctuating fortunes of the world’s wealthiest individuals, influenced by stock market movements, business developments, and other factors. The ongoing competition for the title of the richest person adds a layer of intrigue to the financial landscape, capturing the attention of global observers.