Since 2022, two billionaires have been locked in a contest for wealth supremacy. Bernard Arnault, the Chairman and CEO of Moet Hennessy Louis Vuitton (LVMH), has recently outpaced Elon Musk, seizing the title of the world’s wealthiest individual. According to Forbes, the net worth of the French billionaire and his family soared to $207.6 billion, marking a substantial $23.6 billion increase.
In a notable shift, Mr. Arnault’s net worth on Friday surpassed that of the Tesla CEO, reaching $204.7 billion. Musk experienced a 13% decline in his net worth, losing over $18 billion in the process. This development underscores the ongoing financial tug-of-war between the two billionaires, a rivalry that has persisted since 2022, with Arnault reportedly claiming the top position late in that year.
The report further details that the market capitalization of LVMH, the conglomerate responsible for prestigious brands like Dior, Bulgari, and Sephora, stands at $388.8 billion, trailing Tesla’s $586.14 billion.
According to Forbes’ real-time billionaires list, the current top 10 richest people globally are as follows:
- 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).
However, the Bloomberg Billionaires Index disputes this ranking, asserting that Elon Musk still holds the title of the world’s richest man, with a net worth of $199 billion. Following Musk on the Bloomberg list is Jeff Bezos, the founder of e-commerce giant Amazon, with a wealth of $184 billion.
On the Bloomberg Billionaires Index, Bernard Arnault claims the third position, boasting a net worth of $183 billion. It’s worth noting that in April of the previous year, Arnault’s fortune surpassed $200 billion as LVMH’s shares reached record highs. This achievement made him the third person, following Elon Musk and Jeff Bezos, to reach this financial milestone. At that time, the Bloomberg Billionaires Index reported a $2.4 billion increase in Arnault’s net worth, reaching $201 billion.
