Elon Musk is no longer the richest man on the planet: who managed to oust the odious billionaire
Bernard Arnault, the French billionaire and CEO of the luxury conglomerate LVMH, has overtaken Elon Musk to become the richest man in the world. This happened after his company’s shares rose by almost 1.5% in European trading, reports Forbes.
According to the publication, Arnaud’s fortune has grown to $210.1 billion, while Tesla’s CEO’s fortune is $208.6 billion. On Thursday, Arnault’s fortune increased by $7.7 billion, and LVMH shares jumped 1.45% to $830.
Since the beginning of the year, LVMH shares have risen by 5.5%. For comparison, Tesla shares, which account for about a third of Musk’s wealth, have fallen by almost 30% since the beginning of 2024.
Earlier in May, Elon Musk took second place from Amazon founder Jeff Bezos and overtook Bernard Arnault after his artificial intelligence startup xAI raised $6 billion with a preliminary estimate of $18 billion. After the latest round of funding, Musk’s stake in xAI is estimated at $14.4 billion.
Results of 2023
As a reminder, Elon Musk, the founder of Tesla and SpaceX and owner of X, remained the richest man in the world in 2023. However, in early May, it became known that French businessman Bernard Arnault, who owns a controlling stake in LVMH, was ranked first in the world’s richest people.
