Elon Musk is no longer the richest person in the world. Bernard Arnault, the founder of Louis Vuitton, has surpassed him

Bernard Arnault, the chairman of LVMH (Louis Vuitton Moët Hennessy), has surpassed Elon Musk of Tesla to claim the title of the world’s richest individual, as per Forbes’ latest “Real-Time Billionaires List.” Arnault’s net worth now stands at an astounding $207.6 billion (€191.5 billion), exceeding Musk’s $204.7 billion (€188.74 billion).

Arnault witnessed a remarkable surge in wealth last week, with his net worth soaring by an impressive 12.3% to $22.7 billion (€20.9 billion) in a single day. In contrast, Elon Musk experienced a decline in wealth by $18 billion (€16.6 billion) the day before, marking an 8.1% decrease in his net worth. This shift in rankings underscores the divergent trajectories of their corporate empires, highlighted by their recent financial reports.

Under Arnault’s stewardship, LVMH reported a record-breaking year in 2023, achieving a remarkable €86.2 billion in revenue. This exceeded economists’ projections of €85.74 billion by a significant margin, representing a substantial 13% increase over 2022 figures. The differing financial performances have played a pivotal role in Arnault’s ascent to the pinnacle of the billionaire rankings.

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