According to Forbes’ most recent “Real-Time Billionaires List,” Bernard Arnault, the head of LVMH (Louis Vuitton Moët Hennessy), has surpassed Tesla’s Elon Musk to become the richest person in the world. Musk’s net worth of $204.7 billion (€188.74 billion) has been surpassed by Arnault’s astounding $207.6 billion (€191.5 billion).
Last week, Arnault’s wealth increased dramatically; in a single day, his net worth increased by a whopping 12.3% to $22.7 billion (€20.9 billion). Elon Musk’s wealth, on the other hand, decreased by $18 billion (€16.6 billion) the previous day, representing an 8.1% drop in his net worth.
The release of their most recent financial reports emphasizes the differences in the trajectories of their business empires, which are shown by this movement in ranks. With an astounding €86.2 billion in revenue in 2023, LVMH reported a record-breaking year under Arnault’s direction. This marked a huge 13% increase over 2022 levels and well outperformed experts’ expectations of €85.74 billion. The disparity in Arnault’s financial results has helped him rise to the top of the billionaire rankings.
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