Bernard Arnault, who is currently the Chairman and CEO of LVHM, has left Tesla’s founder Elon Musk behind in the race to be the richest person in the world, Forbes reported.
The net worth of the French billionaire and his family stands at $207.6 billion while Musk is in second position with $204.7 billion.
The two have been fighting for the position since 2022. Arnault became the richest person on the planet in late 2022, surpassing Elon Musk as tech stocks struggled in the face of high inflation.
How did Arnault supass Musk?
Observing a surge of $23.6 billion increase on Friday, Arnault and his family’s net worth grew to $207.8 billion overtaking Musk’s $204.5 billion, Forbes reported.
The update of Musk losing first place came after Musk lost more than $18 billion in net worth when Tesla’s stock saw a dip of nearly 13 per cent on Thursday.
Source: The Economic Times