Bernard Arnault, the chairman of LVMH (Louis Vuitton Moët Hennessy), has overtaken Elon Musk of Tesla to become the world’s richest individual, according to Forbes’ latest “Real-Time Billionaires List.” Arnault’s net worth has reached an impressive $207.6 billion (€191.5 billion), surpassing Musk’s $204.7 billion (€188.74 billion).
Arnault experienced a significant surge in wealth last week, witnessing a staggering 12.3% increase in his net worth to $22.7 billion (€20.9 billion) in a single day. In contrast, Elon Musk’s wealth declined by $18 billion (€16.6 billion) the day before, marking an 8.1% decrease in his net worth.
This shift in rankings highlights the divergent paths of their corporate empires, accentuated by the release of their recent financial reports. Under Arnault’s leadership, LVMH reported a record-breaking year in 2023, achieving an impressive €86.2 billion in revenue. This surpassed economists’ expectations of €85.74 billion by a significant margin, representing a substantial 13% rise over 2022 figures. The contrasting financial performances have contributed to Arnault’s ascent to the top of the billionaire rankings.
