Luxury goods maker, Bernard Arnault has surpassed Elon Musk to claim the title of the world’s wealthiest person, Forbes reports.
The founder and CEO of LVMH, a global luxury goods company encompassing brands like Louis Vuitton, saw his family’s net worth soar to $207.8 billion, marking a $23.6 billion increase on Friday.
In contrast, Tesla CEO Elon Musk’s net worth was reported at $204.5 billion by the publication.
These two titans of wealth frequently vie for the top position, with Arnault, aged 74, initially surpassing Musk in December 2022 during a period when the tech industry faced challenges, while the luxury sector demonstrated resilience amid inflationary pressures.
While Arnault briefly reclaimed the title of the world’s wealthiest person earlier in the year, Elon Musk regained the top spot in June 2023.
This shift occurred following a substantial $11.2 billion decrease in Arnault’s fortune in a single day, prompting concerns about a potential economic slowdown in the United States and its potential impact on the demand for luxury goods, as reported by Bloomberg.
With the newest development, Elon Musk becomes the second richest man, with Jeff Bezos in the third place.
Here is the list of the top ten richest men:
1. Bernard Arnault
2. Elon Musk
3. Jeff Bezos
4. Larry Ellison
5. Bill Gates
6. Warren Buffet
7. Larry Page
8. Sergey Brin
9. Steve Ballmer
10. Mark Zuckerberg
