Louis Vuitton CEO, Arnault surpasses Elon Musk as the richest person in the world

The CEO of luxury company LVMH Moet Hennessy Louis Vuitton SE, Bernard Arnault, has eclipsed Tesla CEO Elon Musk to become the richest person in the world.

Bernard Arnault has surpassed Elon Musk, whose net worth is currently $204.7 billion, to become the richest person on the planet with a net worth of $207.8 billion, according to Forbes’ real-time billionaires list.

The information was released on Thursday after Musk’s Tesla stock fell 13% on the stock market, resulting in a loss of over $18 billion in net worth. Amidst this, LVMH’s shares surged on Friday, rising more than 13% as of 11 a.m. due to reports of robust sales.

The company that owns luxury brands like Dior, Bulgari, and Sephora, LVMH, has a market capitalization of $388.8 billion, according to the report, while Tesla’s is $586.14 billion.

Since 2022, the two billionaires have reportedly been in a tug-of-war over wealth, with Mr. Arnault apparently taking the lead late in that year.

The top 10 richest people in the world, as per Forbes’ real-time billionaires list, are:

Bernard Arnault & Family ($207.6 billion)

Elon Musk ($204.7 billion)

Jeff Bezos ($181.3 billion)

Larry Ellison ($142.2 billion)

Mark Zuckerberg (139.1 billion)

Warren Buffett ($127.2 billion)

Larry Page ($127.1 billion)

Bill Gates ($122.9 billion)

Sergey Brin ($121.7 billion)

Steve Ballmer (118.8 billion).

On the other hand, according to the Bloomberg Billionaires Index, Mr. Musk remains the richest person in the world, with a $199 billion net worth.

The founder of the massive online retailer Amazon, Jeff Bezos, comes in second on the list with a net worth of $184 billion, after Elon Musk.

With a net worth of $183 billion, Bernard Arnault is ranked third on the Bloomberg Billionaires Index.