The two billionaires have been engaged in a tug of war over wealth since 2022.
Bernard Arnault, Chairman and CEO of Moet Hennessy Louis Vuitton (LVMH), has surpassed Elon Musk to become the richest man in the world. According to ForbesThe net worth of the French billionaire and his family rose to $207.6 billion after an increase of $23.6 billion.
On Friday, Arnault's net worth surpassed the Tesla CEO's net worth of $204.7 billion, which fell 13 percent with… Mr. Musk lost more than $18 billionThe report added.
The two billionaires have been engaged in a tug of war over wealth since 2022, with Arnault reportedly taking first place late that year.
The report revealed that the market value of LVMH – the entity behind luxury goods brands such as Dior, Bulgari and Sephora – was $388.8 billion, compared to Tesla's $586.14 billion.
According to Forbes Real Time Billionaires List, the 10 richest people in the world are:
Bernard Arnault and his family ($207.6 billion)
Elon Musk ($204.7 billion)
Jeff Bezos ($181.3 billion)
Larry Ellison ($142.2 billion)
Mark Zuckerberg (139.1 billion)
Warren Buffett ($127.2 billion)
Larry Page ($127.1 billion)
Bill Gates ($122.9 billion)
Sergey Brin ($121.7 billion)
Steve Ballmer (118.8 billion).
However, Bloomberg Billionaires IndexOn the other hand, he claims that Mr. Musk is still the richest man in the world, with a net worth of $199 billion.
Elon Musk is followed on the list by e-commerce giant Amazon founder Jeff Bezos, with a fortune of $184 billion.
In the Bloomberg Billionaires Index, Bernard Arnault ranked third with a net worth of $183 billion.
Meanwhile, in April last year, Bernard Arnault's fortune surpassed $200 billion, as the company's shares reached a record high. Arno became the third person to achieve this feat, which was previously achieved by Elon Musk and Jeff Bezos.
The Bloomberg Billionaires Index reported at the time that Arnault's net worth rose by $2.4 billion to $201 billion.
Due to the growing demand for luxury goods, Arnault's wealth increased by $39 billion in 2023 after LVMH shares increased by 30 percent.
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