Bernard Arnault beats Elon Musk to regain title as world's richest

Bernard Arnault beats Elon Musk to regain title as world’s richest

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Bernard Arnault has reclaimed his title as the wealthiest individual globally, surpassing Elon Musk and Jeff Bezos, according to the latest Forbes rich list.

Arnault briefly lost the top spot after a $3 billion decrease in his net worth on Thursday, dropping from $202 billion to $199 billion within a day.

However, he swiftly regained his position as the richest person on the planet by adding $460 million to his wealth in under 24 hours.

Born on March 5, 1949, Bernard Arnault is the visionary behind LVMH Moët Hennessy Louis Vuitton SE, the world’s leading luxury goods conglomerate, known for its strategic acquisitions and extensive portfolio encompassing fashion, jewellery, watches, and wine.

As of March 22, Arnault boasts an estimated net worth of US$ 231.5 billion, solidifying his status as the wealthiest individual globally.

Arnault oversees LVMH’s empire of 75 prestigious fashion and cosmetics brands, including iconic names like Louis Vuitton and Sephora.

Notably, LVMH made headlines in 2021 with its acquisition of American jeweller Tiffany & Co for a staggering $15.8 billion, marking one of the most significant luxury brand purchases in history.

Beyond his luxury empire, Arnault’s holding company Agache supports ventures such as Aglaé Ventures, a venture capital firm with investments in renowned companies like Netflix and ByteDance, the parent company of TikTok.

Arnault’s journey to wealth began with his father’s success in construction, and he capitalised on this foundation by investing $15 million from the family business to acquire Christian Dior in 1984, propelling him into the world of luxury fashion.

Family plays a central role in Arnault’s business endeavours, with all five of his children actively involved in LVMH.

Here are the current top 10 billionaires as of March 22.

Bernard Arnault — $231.5bn

Jeff Bezos — $196.3bn

Elon Musk — $193.7bn

Mark Zuckerberg — $178.0bn

Larry Ellison — $158.7bn

Warren Buffett — $136.5bn

Bill Gates — $131.7bn

Steve Ballmer — $126.6bn

Larry Page — $123.3bn

Sergey Brin — $118.6bn

 

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