Bernard Arnault, billionaire chairman and CEO of global luxury goods brand LVMH (Louis Vitton) has overtaken Elon Musk as the richest man in the world, according to Forbes.
The net worth of the Arnault family soared to $207.8 billion on Friday, rising by $23.6 billion, as per the magazine. on the other hand, Musk's stood at $204.5 billion, dropping by more than $18 billion.
Bernard Arnault was born in 1949 in Roubaix, France, Arnault studied engineering at the École Polytechnique in Paris before pursuing a career in business.
The luxury goods brand Christian Dior, which was having financial difficulties at the time, was purchased by Arnault in 1984. Under Arnault's direction, the business grew quickly and added more luxury brands to its lineup, including Hennessy, Louis Vuitton, and Moët & Chandon. When Arnault combined Christian Dior and Moët Hennessy in 1987, the result was LVMH, the biggest luxury goods corporation globally.
According to the Forbes Real Time Billionaire List on Sunday, the French tycoon and his family were worth $207.6 billion, while Musk was valued at $204.7 billion. Mark Zuckerberg, Jeff Bezos, and Larry Ellison completed the top five.
However, according to the Bloomberg Billionaires Index, Musk—who owns businesses like SpaceX, Tesla, and X (previously Twitter)—remains the richest person in the world with a $199 billion fortune, ahead of Jeff Bezos ($184 billion) and Arnault ($183 billion).
