Forbes reports that Bernard Arnault has surpassed Elon Musk to become the world’s richest person. The chairman and CEO of LVMH, a multinational luxury goods corporation that owns brands including Louis Vuitton, and his family have amassed a net worth of $207.8 billion, following a $23.6 billion increase on Friday.
According to the report, the Tesla CEO was worth $204.5 billion at the time.
The two richest persons on the planet frequently compete with one another for the top spot. As the tech sector faltered and luxury goods shown their ability to withstand inflation, 74-year-old Bernard Arnault initially overtook Musk in December 2022.
The French billionaire’s net worth overtook Elon Musk’s earlier in the year, but in June 2023, the CEO of Twitter and Tesla regained his position as the richest person in the world. Elon Musk and Bernard Arnault made news at the same time after meeting for a formal lunch in Paris.
Bloomberg claims that the two first met at Arnault’s LVMH-owned Cheval Blanc network of upscale hotels. While Arnault was joined by two of his three kids, Antoine and Alexandre, Elon Musk took his mother, Maye Musk, to lunch in Paris.
Arnault stated he was meeting Musk because “I know him (and) I think he is an exceptional entrepreneur” on the French news program Quotidien.
