Bernard Arnault Overtakes Elon Musk: The title of the world’s richest person has been snatched from Elon Musk, the owner of Tesla, Starlink, and SpaceX. Following a significant drop in Tesla’s shares, there has been a substantial reduction in Musk’s wealth. Bernard Arnault, the owner of the French business and luxury brand LVMH, has once again become the world’s richest individual, with a net worth of around 207.6 billion dollars, according to Forbes Real Time Billionaires. In contrast, Elon Musk’s total wealth is now 204.7 billion dollars.
Arnault Surpasses Musk
Bernard Arnault has surpassed Elon Musk, becoming the wealthiest entrepreneur globally. Arnault’s wealth is now more than 3 billion dollars higher than Musk’s. It’s noteworthy that LVMH’s market cap increased to over 388.8 billion dollars on Friday, while Tesla’s market cap is currently at 586.14 billion dollars.
Who is Bernard Arnault?
Bernard Arnault is considered the godfather of the modern luxury fashion industry. He is the founder, chairman, and largest shareholder of the world’s largest fashion group, LVMH Moët Hennessy. Arnault’s group has a market cap that is approximately four times larger than its closest competitor, Kering. LVMH owns 75 luxury brands among its 60 subsidiary companies.
Tesla Stock Decline and Comparison with LVMH
Tesla’s stock has seen a decline of over 26% this year. The stock, which was at $248.42 on January 1, has now dropped to $183.25 as of January 28. This decline in stock price has led to a decrease in Elon Musk’s net worth. On the other hand, LVMH’s shares have seen a 7% increase this year.
Top 10 Wealthiest Individuals
According to Forbes Real Time Billionaires list, after Bernard Arnault and Elon Musk, the third position on this list is held by Jeff Bezos, the founder of Amazon, with a net worth of 181.30 billion dollars. Larry Ellison holds the fourth position with a net worth of 142.20 billion dollars, followed by Mark Zuckerberg, the CEO of Meta, with a net worth of 139.1 billion dollars. The list also includes Warren Buffett, Larry Page, Bill Gates, Sergey Brin, and Steve Ballmer.
Net Worth of Ambani and Adani
Mukesh Ambani, the richest person in Asia and India, holds the 11th position on the Forbes Real Time Billionaires list with a net worth of 104.4 billion dollars. Meanwhile, Gautam Adani, the second richest person in India, is at the 16th position with a total wealth of 75.7 billion dollars.
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