Elon Musk
The Tesla Inc. chief executive officer Elon Mask has retaken the position of the World’s richest person after the share of Arnault’s LVMH fell 2.6% in Paris trading. Before this, the title of the World’s richest person was acquired by luxury tycoon Bernard Arnault.
According to the Bloomberg Billionaires Index, which lists the top 500 richest people in the world, Tesla CEO and Bernard Arnault were neck and neck for the top spot this year. In December, Arnault surpassed Elon Musk as the tech industry suffered the loss while luxury showed resilience even during inflation. Arnaults Brand LVMH owns several brands including Fendi, Louis Vuitton and Hennessy.
Amid the slowing economic growth Luxury sector started to fade, specifically in China’s market. Since April LVMH’s share fell about 10%, bringing down $11 billion from Arnault’s wealth in a day.
However, Elon Musk’s net worth grew by $55.3 billion this year. According to the Bloomberg Billionaires Index, net worth of Elon Musk is $192.3 billion whereas Arnault stands at $186.6 billion. As per the Index, Amazon founder Jeff Bezos is the world’s third richest person, with a net worth of $144 billion.
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