Bernard Arnault is the world’s richest man, Elon Musk lost position

Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy – Louis Vuitton is the richest man in the world with a wealth of $188.6 billion.

Elon Musk lost his position as the world’s richest man on Monday, as Tesla shareholders fell 4%. Musk lost nearly $7.4 billion (approximately 700 crore) in Tesla stock and was taken over by Bernard Arnault.

According to Forbes, Elon Musk’s current net worth is $176.8 billion, which is $11.8 billion less than Bernard Arnault’s. Musk’s net worth has fallen by $4.5 billion in the last two days, whereas Bernard Arnault and his family’s wealth has increased by $2.7 billion.

Who is Bernard Arnault ?

Meanwhile, Bernard Arnault is a French business magnate, investor, and art collector. He is the co-founder, chairman, and chief executive of LVMH Moët Hennessy – Louis Vuitton SE, the world’s largest luxury goods company. Bernard Arnault & family owns around 70 companies and have an estimated net worth of $188.6 billion as of December 2022 according to Forbes.

Arnault’s collection includes work by Picasso, Yves Klein, Henry Moore, and Andy Warhol. He was also instrumental in establishing LVMH as a major patron of art in France.

ALSO READ: Gautam Adani becomes world’s second richest person, surpasses Bernard Arnault