Bernard Arnault Tops Global Rich List, Overtakes Musk; Mukesh Ambani Ranks 11th
Elon Musk Overtakes Bernard Arnault as the World’s Richest
Elon Musk has now become the world’s wealthiest business magnate, surpassing Bernard Arnault, the CEO of LVMH (Louis Vuitton Moët Hennessy). This shift in rankings can be attributed to the fluctuations in Tesla’s stock, causing Musk’s net worth to climb.
According to Forbes’ real-time billionaires list, Arnault’s net worth currently stands at $207 billion (approximately INR 17.20 lakh crore), while Elon Musk’s net worth is $204 billion (approximately INR 16.96 lakh crore). Meanwhile, Jeff Bezos holds the third position with a net worth of around INR 15.04 lakh crore.
Notably, among the top ten, there is no representation from any Indian billionaire. Mukesh Ambani, Chairman of Reliance Industries, holds the 11th position with a net worth of $104 billion (approximately INR 8.64 lakh crore). Gautam Adani is ranked 16th, with a total wealth of $75 billion (approximately INR 6.23 lakh crore).
Tesla’s Stock Sees Over 26% Decline this Year, Impacting Elon Musk’s Net Worth
Tesla’s stock has witnessed a significant decline of over 26% so far this year. Starting the year at $248.42, the stock has dropped to $183.25 as of January 28. This downturn in share value has contributed to a decrease in Elon Musk’s net worth. In contrast, Bernard Arnault, the CEO of LVMH, has seen a 7% increase in the company’s shares this year.
Who is Bernard Arnault?
Bernard Arnault is a prominent figure in the modern luxury fashion industry. He is considered the godfather of LVMH (Louis Vuitton Moët Hennessy), the world’s largest luxury goods conglomerate. Arnault is the founder, chairman, and largest shareholder of LVMH. In terms of market capitalization, Arnault’s conglomerate is almost four times larger than its nearest competitor. LVMH owns 75 luxury brands, making it a dominant force in the luxury market, with a portfolio that includes iconic names in fashion, watches, and spirits.
