French businessman, investor, and art collector, Bernard Arnault overtakes Elon Musk as the richest man in the world.
The 74-year-old businessman who is born with his full and legal name ‘Bernard Jean Étienne Arnault’ is the founder, chairman and CEO of LVMH, the world’s largest luxury goods company.
Bernard is now the richest man on the planet Earth, according to Forbes’s real-time billionaire list based on its recent calculations, putting him on top of the list, followed by Telsa boss Elon Musk.
Bernard Arnault overtakes Elon Musk as the richest man in the world: The Arnault family’s net worth experienced a staggering boost to $207.8 billion after a remarkable $23.6 billion surge on a recent Friday, edging past Musk’s $204.5 billion, as per Forbes’ rankings.
The news comes as Musk’s Tesla struggled in the stock market Thursday, dropping 13%, with Musk losing more than $18 billion in net worth.
Meanwhile, the shares of LVMH were on a joyous ascent, marking a remarkable 13% increase by 11 a.m. on Friday, thanks to reports of robust sales. The market capitalization of LVMH soared to $388.8 billion, in contrast to Tesla’s $586.14 billion market cap.
Beyond the financial spectacle, Bernard Arnault’s family legacy at LVMH is noteworthy. With five children all actively engaged in the company, he recently made strategic moves to ensure long-term family control.
Two of his sons joined the LVMH board, joining their siblings who were already part of the board, solidifying the family’s influence within the luxury goods powerhouse.
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Bernard Arnault overtakes Elon Musk as the richest man in the world: See Bernard Arnault Net Worth and Complete Bio Here.