World’s richest list: Bernard Arnault overtakes Elon Musk at the top
While the French billionaire has added to his wealth, Musk has lost about $200 billion since 2021.
Elon Musk, the redoubtable technology man, was last week pushed down a notch lower on the world’s wealthiest men’s list and lost the coveted position to French businessman and investor Bernard Jean Étienne Arnault.
Bernard Arnault, Chairman and CEO of Moet Hennessy Louis Vuitton (LVMH), and his family edged Musk out as they added $23.6 billion to their net wealth to top the list of the world’s richest 10, according to Forbes’ Real Time Billionaires List, with a net worth of $207.6 billion. LVMH owns luxury brands like brands like Dior, Bulgari, and Sephora.
Till January 18, with a net worth of $227.8 billion, Musk topped the list but lost the top slot to Arnault after suffering huge losses between November 2021 and early January. According to The Washington Post, Musk lost about $182 billion during this period. Quoting the Bloomberg Billionaires Index, the news report said Musk lost $200 billion in this period.
Musk and Arnault are reported to have been engaged in a tug-of-war of sorts to edge each other out of the richest men’s list for quite some time.
According to the Forbes report, the market capitalisation of LVMH and Musk’s Tesla stood, respectively, at $388.8 billion and $586.14 billion.
The other eight richest on the list are Jeff Bezos of Amazon with a net worth of $181.3 billion, Oracle owner Larry Ellison with a net worth of $142.2 billion, Meta owner Mark Zuckerberg with a net worth of 139.1 billion, US investor Warren Buffett with a net worth of $127.2 billion, Bill Gates of Microsoft Inc. with a with net worth of $119.9 billion, Larry Page with a net worth of $118.7 billion, Steve Ballmer with a net worth of $115.4 billion and lastly Sergey Brin with a net worth of $113.8 billion. Page and Brin are co-founders of Google, while Ballmer is the former CEO of Microsoft.