Dethroned Elon Musk: Here is Bernard Arnault, the richest person in the world
The CEO of Tesla and SpaceX, Elon Musk, has lost the title of ‘the richest person in the world’ after the fall of the shares of the electric car company Tesla.
According to Forbes and Bloomberg, the world’s richest person is Bernard Arnault, chief executive of France-based luxury goods company LVMH.
According to Forbes, Musk’s personal fortune is $178 billion. Arnault’s is 188,000 million dollars. According to Bloomberg, Musk’s fortune is $168.5 billion, while Arnault’s is around $172.9 billion.
HOW TO CLOSE THE DIFFERENCE?
Shares of Arnault’s company LVMH, which also includes brands such as Louis Vuitton and Hennessy, have been mostly flat this year. However, Musk-owned Tesla shares lost 56 percent in 2022, causing the gap between the two billionaires to close. Musk also sold a large amount of Tesla stock to buy Twitter this year.
Due to these events, the wealth gap between the two billionaires has closed. The owner of a luxury clothing brand, Arnault, managed to stay ahead of the tech billionaire in the current lists.
Indian billionaire Gautam Adani is third on Bloomberg’s list. Adani’s fortune is around 125 billion dollars. In fourth place is Jeff Bezos, the founder of Amazon, with a fortune of 116,000 million dollars.
WHO IS BERBARD ARNAULT?
Born on March 5, 1949 in Roubaix, France, Bernard Arnault is also the son of businessman Jean Leon Arnault.
After receiving an engineering education at Ecole Polytechnique University, one of the world-renowned universities, Arnault worked for his father’s construction company, Ferret-Savinel.
After buying the luxury goods company Financiere Agache, Arnault also incorporated the famous Boussac Saint-Freres textile companies. Having invested millions of dollars in shares of the MHV company, Arnault became the company’s first shareholder and built LMHV into a world renowned company.
Arnault, who collects many luxury goods such as spirits, cosmetics, watches and clothing as well as fashion, was among the top 5 richest people in the world in 2011.
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
