Elon Musk No Longer World's Richest Man. This Is The guy Who Surpassed Him

Elon Musk has been surpassed by Bernard Arnault, Chairman and CEO of Moet Hennessy Louis Vuitton (LVMH), who has become the richest man in the world.

According to Forbes, the net worth of the French billionaire and his family has grown to $207.6 billion, marking a $23.6 billion increase.

Luxury Titan Bernard Arnault Overtakes Elon Musk as World's Richest

On Friday, the $204.7 billion net worth of Tesla CEO Elon Musk, who experienced a 13% drop, was surpassed by Arnault, with the French billionaire's net worth of $207.6 billion. Musk lost over $18 billion, marking a significant shift in their ongoing wealth competition since 2022, with Arnault reportedly securing the top spot late in that year.

The report also disclosed that LVMH's market cap, the entity behind luxury brands like Dior, Bulgari, and Sephora, reached $388.8 billion, as opposed to Tesla's $586.14 billion. According to the Forbes real-time billionaires list, the top 10 richest people in the world are:

1. Bernard Arnault & Family ($207.6 billion)
2. Elon Musk ($204.7 billion)
3. Jeff Bezos ($181.3 billion)
4. Larry Ellison ($142.2 billion)
5. Mark Zuckerberg (139.1 billion)
6. Warren Buffett ($127.2 billion)
7. Larry Page ($127.1 billion)
8. Bill Gates ($122.9 billion)
9. Sergey Brin ($121.7 billion)
10. Steve Ballmer (118.8 billion).

On the other hand, according to the Bloomberg Billionaires Index, Elon Musk is asserted to still hold the title of the world's richest man, with a reported net worth of $199 billion. Jeff Bezos, the founder of e-commerce giant Amazon, follows with a wealth of $184 billion. Bernard Arnault is positioned third on the Bloomberg Billionaires Index, registering a net worth of $183 billion.

Last April, Bernard Arnault's fortune surpassed $200 billion as the company's shares reached a record high, reported NDTV. The milestone, previously achieved by Elon Musk and Jeff Bezos, saw Arnault becoming the third person to accomplish this feat.

During that time, the Bloomberg Billionaires Index reported a $2.4 billion rise in Arnault's net worth, reaching $201 billion. The soaring demand for luxury goods contributed to a $39 billion increase in Arnault's fortune in 2023, driven by a 30% surge in LVMH shares.