With an astounding net worth of $207.8 billion, Bernard Arnault has surpassed Elon Musk to become the richest person in the world.
According to Forbes, Arnault is now the world’s richest person. He is the billionaire chairman of LVMH, a global powerhouse in luxury goods that produces well-known brands like Sephora and Louis Vuitton.
According to the Forbes real-time billionaires list, Arnault and his family’s net worth increased by $23.6 billion on Friday, surpassing Musk’s $204.5 billion.
The announcement follows a 13% decline in Tesla’s stock price on Thursday, costing Musk about $18 billion in net worth.
On the other hand, LVMH shares were surging on Friday, up more than 13% as of 11 a.m. due to reports of robust sales.
The market cap of LVMH reached $388.8 billion on Friday, compared to Tesla’s $586.14 billion market cap. [CONTINUE READING HERE]
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