- Elon Musk Is the Richest Person in World Again.
- He surpassed luxury tycoon Bernard Arnault after shares of Arnault’s LVMH fell 2.6% in Paris trading.
- Musk and the 74-year-old Frenchman have been neck-and-neck for the top spot this year in the Bloomberg Billionaires Index, a listing of the world’s 500 richest people.
- Musk, meanwhile, has gained more than $55.3 billion this year, largely due to Tesla.
- Elon Reeve Musk is a business magnate and investor. He is the founder, CEO, and chief engineer of SpaceX; angel investor, CEO, and product architect of Tesla, Inc.; owner and CEO of Twitter, Inc.; founder of the Boring Company; co-founder of Neuralink and OpenAI.
- Bernard Jean Arnault is a French business magnate, investor, and art collector. He is the founder, chairman, and chief executive officer of LVMH Moet Hennessy Louis Vuitton, the world’s largest luxury goods company.
The Tesla Inc. chief executive officer surpassed luxury tycoon Bernard Arnault, after shares of Arnault’s LVMH fell 2.6% in Paris trading, to be the richest person In the world again.
Musk and the 74-year-old Frenchman have been neck-and-neck for the top spot this year in the Bloomberg Billionaires Index, a listing of the world’s 500 richest people.
Arnault first surpassed Musk in December as the tech industry struggled and luxury showed resilience in the face of inflation. LVMH, which Arnault founded, owns brands including Louis Vuitton, Fendi, and Hennessy.
Faith in the luxury sector’s buoyancy is starting to fade amid mounting signs of slowing economic growth, particularly in the critical market of China. LVMH shares have tumbled about 10% since April, at one point wiping $11 billion from Arnault’s net worth in a single day.
Musk, meanwhile, has gained more than $55.3 billion this year, largely due to Tesla. The Austin-based automaker — which comprises 71% of his fortune — has rallied 66% year-to-date. Musk’s fortune is now valued at about $192.3 billion, according to the index, while Arnault’s is about $186.6 billion.
Elon Reeve Musk is a business magnate and investor. He is the founder, CEO, and chief engineer of SpaceX; angel investor, CEO, and product architect of Tesla, Inc.; owner and CEO of Twitter, Inc.; founder of the Boring Company; co-founder of Neuralink and OpenAI; and president of the philanthropic Musk Foundation. Musk was the second-wealthiest person in the world, according to both the Bloomberg Billionaires Index and Forbes’s Real Time Billionaires list as of May 2023 primarily from his ownership stakes in Tesla and SpaceX, with an estimated net worth of around $167 billion according to the Bloomberg and $176.2 billion according to Forbes.
Bernard Jean Arnault is a French business magnate, investor, and art collector. He is the founder, chairman, and chief executive officer of LVMH Moet Hennessy Louis Vuitton, the world’s largest luxury goods company. Arnault and his family have an estimated net worth of US$240 billion as of April 2023, according to Forbes, making him the wealthiest person in the world.
(With inputs from agencies)
